Uber is in talks to sell its self-driving vehicle division, ATG, to autonomous vehicle startup Aurora, TechCrunch reported Friday. ATG has been hobbled by a deadly crash, infighting, and unreliable tech — leading investors to lose patience and sparking rumors the company would try to offload the struggling unit. Despite a previous $7.25 billion valuation,… Continue reading Uber is reportedly in talks to sell its self-driving vehicle division to a startup run by former Uber, Tesla, and Google executives and backed by Amazon (UBER)
Tag: Uber
Uber in talks to sell ATG self-driving unit to Aurora
Eighteen months ago, Uber’s self-driving car unit, Uber Advanced Technologies Group, was valued at $7.25 billion following a $1 billion investment from Toyota, DENSO and Softbank’s Vision Fund. Now, it’s up for sale and a competing autonomous vehicle technology startup is in talks with Uber to buy it, according to three sources familiar with the… Continue reading Uber in talks to sell ATG self-driving unit to Aurora
DoorDash files to go public
After filing earlier this year, DoorDash dropped its public S-1 filing this morning, bringing clarity to its numbers and moving it closer to a public debut that should happen before the end of the year. The company is one of several startups that we expect to see IPOs from before the year ends, despite some… Continue reading DoorDash files to go public
DoorDash files for IPO and hints at driverless future
Food delivery platform DoorDash filed its widely anticipated IPO with the Securities and Exchange Commission on Friday, and plans to take the company public early next month. The company’s revenue soared in 2020 and it briefly showed a profit, as restaurants closed to in-person dining due to the pandemic, and relied on delivery services. DoorDash… Continue reading DoorDash files for IPO and hints at driverless future
Uber-rival Bolt to invest over 100 million euros in European e-scooter market
By Tarmo Virki 2 Min Read TALLINN (Reuters) – Estonia-based ride-hailing service Bolt said on Thursday it would invest over 100 million euros ($118 million) in 2021 to become the largest e-scooter rental firm in Europe, at a time when cab services have been severely hit by the COVID-19 pandemic. The Uber Inc rival said… Continue reading Uber-rival Bolt to invest over 100 million euros in European e-scooter market
BMW CEO says he is weighing options for mobility JV with Daimler
By Joseph White 1 Min Read FILE PHOTO: Oliver Zipse, CEO of German luxury carmaker BMW poses with a mask after BMW donated protection masks and gloves to the Federal Agency for Technical Relief (THW), as the spread of the coronavirus disease (COVID-19) continues in Munich, Germany, April 8, 2020. REUTERS/Andreas Gebert DETROIT (Reuters) –… Continue reading BMW CEO says he is weighing options for mobility JV with Daimler
Uber and Lyft Drivers in California Will Remain Contractors
[President-elect Joe Biden’s victory prompts spontaneous celebrations.] OAKLAND, Calif. — Drivers and other workers for so-called gig economy companies in California will not become their employees. California voters carried Uber and Lyft to victory, overwhelmingly approving Proposition 22, a ballot measure that allows gig economy companies to continue treating drivers as independent contractors. Uber, Lyft… Continue reading Uber and Lyft Drivers in California Will Remain Contractors
Provizio closes $6.2M seed round for its car safety platform using sensors and AI
Provizio, a combination hardware and software startup with technology to improve car safety, has closed a seed investment round of $6.2million. Investors include Bobby Hambrick (the founder of Autonomous Stuff); the founders of Movidius; the European Innovation Council (EIC); ACT Venture Capital. The startup has a “five-dimensional” sensory platform that — it says — perceives,… Continue reading Provizio closes $6.2M seed round for its car safety platform using sensors and AI
California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
California voters approved Proposition 22, a legislation that keeps rideshare and food delivery drivers as “independent contractors” who do not qualify for state and local employee benefits like minimum wage, healthcare, or paid time off. The ballot measure, backed by Uber, Lyft, Instacart, and DoorDash, exempts firms from AB-5, a state law that would have… Continue reading California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
Lyft executives celebrate the company’s IPO in 2019. Mario Tama/Getty Images Uber shares rose as much as 18% and Lyft shares jumped as much as 22% on Wednesday after California voters approved Proposition 22. The ballot measure’s passage means the ride-hailing companies can continue to classify their drivers as independent contractors instead of employees, exempting… Continue reading Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22