Uber has announced it has sold a $500 million stake in its Uber Freight logistics business to New York-based private equity firm Greenbriar Equity Group. Uber will retain majority ownership of Uber Freight. The investment values the logistics arm of the company at $3.3 billion on a post-money basis. Visit Business Insider’s homepage for more… Continue reading Uber Freight raises $500 million from New York-based private equity firm at a $3.3 billion post-money valuation
Tag: Uber
Uber sells $500M stake in its freight business as the ride-hailing giant works to conserve cash
One year ago, Uber’s business model could be categorized as an “all of the above approach,” a strategy to generate revenue from all forms of transportation, including ride-hailing, micromobility, logistics and package and food delivery. The COVID-19 pandemic upended that business strategy, prompting Uber to offload its shared micromobility unit Jump, double down on delivery… Continue reading Uber sells $500M stake in its freight business as the ride-hailing giant works to conserve cash
Uber Freight raises $500 mln, valuation rises to $3.3 billion
By Reuters Staff 1 Min Read FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo (Reuters) – Uber Technologies Inc UBER.N said on Friday New York-based private equity firm Greenbriar Equity Group would invest $500 million in its logistics arm, Uber Freight, valuing the unit… Continue reading Uber Freight raises $500 mln, valuation rises to $3.3 billion
Pakistan’s Bykea raises $13m Series B led by Prosus Ventures
Bykea, a ride-hailing and parcel delivery startup based in Pakistan, has raised $13 million for its Series B round led by Prosus Ventures, according to a company statement. This is understood to be Prosus Ventures’s first investment in Pakistan. The round was also joined by existing investors Middle East Venture Partners (MEVP) and Sarmayacar, bringing… Continue reading Pakistan’s Bykea raises $13m Series B led by Prosus Ventures
Prosus Ventures leads $13 million investment in Pakistan’s ride-hailing giant Bykea
Bykea, which leads the ride-hailing market in Pakistan, has raised $13 million in a new financing round as the five-year-old startup looks to deepen its penetration in the South Asian country and become a “super app.” The startup’s new financing round, a Series B, was led by storied investment firm Prosus Ventures. It’s the first… Continue reading Prosus Ventures leads $13 million investment in Pakistan’s ride-hailing giant Bykea
World NM: Uber weighs purchase of BMW-Daimler ride-hailing venture000205
Uber Technologies Inc is considering a purchase of Daimler AG and BMW AG’s ride-hailing joint venture Free Now, a deal that could boost its market share in Europe and Latin America. Daimler valued the equity investment in its half of the Your Now venture at 618 million euros (S$990 million) at the end of June.… Continue reading World NM: Uber weighs purchase of BMW-Daimler ride-hailing venture000205
Protection Against Coronavirus:
• Improved safety when traveling: A protective panel minimizes the spread of coronavirus while offering drivers and passengers improved safety when traveling • High-quality plastic film as a partition panel in passenger cars, ready for the market in just eight weeks Winchester, September 28, 2020. Technology company Continental is helping to improve the drivers and passenger’s safety… Continue reading Protection Against Coronavirus:
Uber granted 18-month London licence after legal battle
By Costas Pitas 3 Min Read LONDON (Reuters) – Uber UBER.N has won a legal bid to restore its London operating licence which was taken away over safety concerns, after a judge ruled on Monday that the company was a fit and proper operator despite “historical failings”. Transport for London (TfL) refused to grant the… Continue reading Uber granted 18-month London licence after legal battle
Postmates cuts losses in Q2 as it heads towards tie-up with Uber
Popular food delivery service Postmates is in the process of merging with Uber in a blockbuster $2.65 billion deal that would see it join forces with its food delivery competitor, Uber Eats. The deal remains under antitrust scrutiny, and has not yet been approved for closing. The deal is expected to close in the first… Continue reading Postmates cuts losses in Q2 as it heads towards tie-up with Uber
@VW Group: Volkswagen and Uber launch pilot project with electric vehicles in Berlin
Yesterday, Volkswagen together with the intermediation platform Uber, launched a pilot project for the utilization of electric vehicles within the sustainable ride hailing service “Uber Green”. Within the framework of a virtual event, Uber hire car partners informed themselves about the background and possibilities of the cooperation. With the e-Golf, they now have a locally… Continue reading @VW Group: Volkswagen and Uber launch pilot project with electric vehicles in Berlin