Tag: Uber

Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)

Days after Uber laid off about a quarter of its workforce, one of its senior executives — marketing leader Jill Hazelbaker — sold more than half of her stake of Uber shares for $8.6 million. Employees have been chattering about the sale internally, not only because of its timing but because of its size, with… Continue reading Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)

Uber: Analysis on Impacts of Driver Reclassification

By Alison Stein, Economist at Uber On May 22nd, California’s state unemployment rate rose to a record 15.5%. Over 2.9 million Californians are out of work, more than during the height of the 2008–2009 recession. However, despite the current economic crisis, the State government is currently pursuing actions that we estimate threaten 158,000 additional work opportunities… Continue reading Uber: Analysis on Impacts of Driver Reclassification

Vaya Africa launches electric ride-hail taxi network

Vaya Africa, a ride-hail mobility venture founded by Zimbabwean mogul Strive Masiyiwa, has launched an electric taxi service and charging network in Zimbabwe with plans to expand across the continent. The South Africa headquartered company has acquired a fleet of Nissan Leaf EVs and developed its own solar powered charging stations. The program goes live… Continue reading Vaya Africa launches electric ride-hail taxi network

Uber is scrapping tens of thousands of Jump bikes during a nationwide bike shortage – The Verge

Uber is sending tens of thousands of its electric Jump bikes to the scrap yard, weeks after offloading the money-losing bike-share division on Lime. The news of the scrapped bikes has incensed bike enthusiasts on social media, one of whom decried the act as “unconscionable.” Uber confirmed in a statement that it was “recycling” many… Continue reading Uber is scrapping tens of thousands of Jump bikes during a nationwide bike shortage – The Verge

‘Nobody’s making money in this business’: Uber’s CEO defends a possible GrubHub merger amid criticism of the reported merger talks (UBER, GRUB)

Cries that a combined Uber and GrubHub could control up to 90% of the food-delivery market are overblown, according to chief executive Dara Khosrowshahi. As everyone from grocery stores to independent restaurants and chains make the switch to delivery amid the coronavirus pandemic, the market is growing too rapidly for any one business to grab… Continue reading ‘Nobody’s making money in this business’: Uber’s CEO defends a possible GrubHub merger amid criticism of the reported merger talks (UBER, GRUB)

BlaBlaCar partners with scooter startup Voi to launch new BlaBla Ride app

Long-distance ridesharing startup BlaBlaCar announced that it is expanding to scooter sharing. But the company isn’t going to operate its own fleet of scooters. Instead, BlaBlaCar is partnering with Voi, a European e-scooter service that has raised $136 million over multiple rounds. Voi operates in dozens of European cities, including Paris, Marseille and Lyon. Over… Continue reading BlaBlaCar partners with scooter startup Voi to launch new BlaBla Ride app

Bolt, the European on-demand transport company, raises $109M on a $1.9B valuation

Bolt, a rival to Uber and others providing on-demand ridesharing, scooters and other transportation services across some 150 cities in Europe and Africa, is today announcing another capital raise as it weathers a difficult market climate where, because of COVID-19, many are staying in place and avoiding modes of transport that put them into contact… Continue reading Bolt, the European on-demand transport company, raises $109M on a $1.9B valuation

Car rental firm Hertz files for bankruptcy protection in US

The 102-year-old car rental firm Hertz has filed for bankruptcy protection after its business all but vanished during the coronavirus pandemic. Hertz said in a US court filing on Friday that it had voluntarily filed for Chapter 11 reorganisation. Its international operating regions including Europe, Australia and New Zealand were not included in the US… Continue reading Car rental firm Hertz files for bankruptcy protection in US