AP Photo/Mark Lennihan Uber skyrocketed as much as 43% Thursday after CEO Dara Khosrowshahi said on a call with investors that the company is in a solid position to weather the coronavirus crisis. Uber’s balance sheet is “incredibly strong,” he said, adding that at the end of February, Uber had $10 billion in unrestricted cash.… Continue reading Uber surges 43% after its CEO says it has enough cash to get through the coronavirus pandemic (UBER)
Tag: Uber
Didi to publish safe ride standards
Ride-hailing platform Didi Chuxing said on Monday it has worked with a state-backed industry group to create China’s first nationwide guidelines for ride-hailing platforms dealing to prevent transmission of Covid-19 during rides. The guidelines are closely based on measures Didi has already adopted, promoting a Didi model for safe ride-hailing that includes AI-based mask checks… Continue reading Didi to publish safe ride standards
Uber says rides down by as much as 70% in cities hardest hit by Coronavirus, looks at delivering meds
Uber — the on-demand transportation and food delivery behemoth — has been hit hard by the novel coronavirus pandemic. CEO Dara Khosrowshahi said today in a call with investors that ride volume has gone down by as much as 60%-70% in recent days in the hardest-hit cities like Seattle, and that’s before you consider the pauses… Continue reading Uber says rides down by as much as 70% in cities hardest hit by Coronavirus, looks at delivering meds
Uber says a coronavirus worst-case scenario could cost it $7 billion and rides could slump as much as 80% (UBER)
Uber has seen its rides business shrink up to 80% as the spreading coronavirus forces people to stay home. The company is modeling up to an $7 billion hit in its worst-case scenario model, it said Thursday. Executives said on a conference call that Uber Eats could help ease some of the pain as people… Continue reading Uber says a coronavirus worst-case scenario could cost it $7 billion and rides could slump as much as 80% (UBER)
Uh-oh Uber, Look Out Lyft: Here Comes Driverless Ride Sharing
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Uber, Lyft Suspend Shared Ride Service
Photo via Uber. Ride-hailing services Uber and Lyft have suspended their shared ride options amid growing concern about the coronavirus and the need to practice social distancing. According to Tech Crunch, Uber’s suspension of its pool service applies only to the U.S. and Canada. The company is looking at enacting the same measure in other… Continue reading Uber, Lyft Suspend Shared Ride Service
Uber: Uber Announces Analyst Call
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) will host a conference call with analysts on Thursday, March 19, 2020 at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) to discuss the state of the business in light of COVID-19, and what the company is doing to respond. A live webcast of the conference call can… Continue reading Uber: Uber Announces Analyst Call
Deliveroo riders can’t access coronavirus hardship fund, warns union
UK on-demand food delivery startup Deliveroo has been accused of setting up an inaccessible hardship fund for couriers in the midst of the coronavirus crisis that leaves gig economy workers on its platform unable to access claimed financial support if they become ill or are self isolating. Gig economy delivery workers are one of the… Continue reading Deliveroo riders can’t access coronavirus hardship fund, warns union
Abwaaab Closes $2.4M Pre-Seed Funding Round
Abwaaab Technologies, an Amman, Jordan-based online learning platform, closed a $2.4M pre-seed funding round. The round was kicked off by Adam Tech Ventures and joined by Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund (“ISSF”), a London-based investment fund. The startup plans to use this funding to develop its product and grow its… Continue reading Abwaaab Closes $2.4M Pre-Seed Funding Round
Uber sues LA’s Dept. of Transportation for warrantless record requests
Sponsored Links Uber The data privacy battle between Uber’s Jump scooter service and the Los Angeles Department of Transportation has been brewing over the last 18 months. After refusing to share real-time location data on its scooter riders, Uber was ordered by the LADOT to remove its scooters from the city. According to CNET, Uber… Continue reading Uber sues LA’s Dept. of Transportation for warrantless record requests