Uber has partnered with trucking startup CloudTrucks to make it easier for its ride-hail drivers to get jobs as truckers during the pandemic. Described as a “business in a box,” CloudTrucks is designed to make it easier for truck owners and operators to run their businesses. Through software and data science, CloudTrucks aims to reduce… Continue reading Uber partners with CloudTrucks to help drivers get trucking jobs
Tag: Uber
As Uber (reportedly) squeezes Lime, scooter startups run low on juice
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. In December of 2019, this column wrote an entry detailing Uber’s micro-mobility efforts. Just six months ago — a mere two quarters — Uber’s Jump team was on the record saying that its parent company… Continue reading As Uber (reportedly) squeezes Lime, scooter startups run low on juice
Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup’s valuation by nearly 80% — and give Uber the option to buy it in 2 years
Uber is reportedly considering leading a $170 million emergency fundraising round for the scooter startup Lime, according to the Information. The terms of the deal will hit the scooter startup hard. The round will reportedly slash Lime’s valuation to $510 million, a 79% slide from the startup’s whopping valuation of $2.4 billion in 2018. As… Continue reading Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup’s valuation by nearly 80% — and give Uber the option to buy it in 2 years
Uber subsidiary Careem to slash workforce by 31%, suspends bus transport app
Careem, the Dubai-based ride-hailing and delivery company that was acquired by Uber last year, is cutting its workforce by 31% and suspending its mass transportation business due to affects from the COVID-19 pandemic. The layoffs will affect more than 530 employees. Employees who are laid off will receive at least three months’ severance pay, one… Continue reading Uber subsidiary Careem to slash workforce by 31%, suspends bus transport app
Lyft is laying off nearly 1,000 employees — 17% of its workforce — as the coronavirus sends the ride-hailing industry into a nosedive (LYFT)
Lyft said on Wednesday that it would cut nearly 1,000 jobs and had furloughed 288 workers. Both Lyft and its larger competitor Uber have seen ride-hailing volumes plummet during the coronavirus pandemic. Shares of Lyft were up more than 5% on Wednesday, outpacing broader market gains. Visit Business Insider’s homepage for more stories. Lyft said… Continue reading Lyft is laying off nearly 1,000 employees — 17% of its workforce — as the coronavirus sends the ride-hailing industry into a nosedive (LYFT)
UPDATE 1-Uber’s Middle East business Careem cuts 31% of workforce
DUBAI (Reuters) – Uber Technologies’ Careem subsidiary on Monday announced it was cutting 536 jobs this week, representing 31% of the Dubai-headquartered company’s workforce. FILE PHOTO: Careem CEO Mudassir Sheikha speaks to Reuters in an interview at the company headquarters in Dubai, UAE, December 13, 2018. REUTERS/Satish Kumar/File Photo The announcement came hours after Uber… Continue reading UPDATE 1-Uber’s Middle East business Careem cuts 31% of workforce
Elon Musk admits Tesla’s plan for a million-strong robotaxi network may not happen this year after all (TSLA, UBER)
Elon Musk set a lofty goal last year: 1 million Tesla robotaxis by the end of 2020. But on Wednesday, the billionaire softened his tone. “Punctuality is not my strong suit, but I always come through in the end,” he said on a conference call. It’s been one year since Elon Musk announced his bold… Continue reading Elon Musk admits Tesla’s plan for a million-strong robotaxi network may not happen this year after all (TSLA, UBER)
Uber CTO Resigns
While Uber’s food delivery business, Uber Eats, has seen an uptick in use as people stay home, it has failed to make up for the losses on the ride-hailing side. Photo via Shopblocks/Flickr. Uber’s Chief Technology Officer, Thuan Pham, is leaving the company, according to a filling with the Securities and Exchange Comission. Pham had been… Continue reading Uber CTO Resigns
Lyft is laying off 982 employees, furloughing a further 288 due to COVID-19 pandemic
Less than 24 hours after it was reported that Uber was considering layoffs of 20% of staff, its big rival Lyft is announcing its own cuts. Today the company said it would be reducing employee count by 17%, working out to 982 employees, and furloughing an additional 288, due to the effects of the COVID-19 pandemic… Continue reading Lyft is laying off 982 employees, furloughing a further 288 due to COVID-19 pandemic
Uber: Uber CFO to Participate at J.P. Morgan Global Technology, Media and Communications Conference
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) announced today that Nelson Chai, Chief Financial Officer, will participate in a fireside chat at J.P. Morgan’s 48th Annual Virtual Global Technology Media and Communications Conference on Thursday, May 14. Mr. Chai is scheduled to appear at 10:50 am ET (7:50am PT). A live webcast of the event… Continue reading Uber: Uber CFO to Participate at J.P. Morgan Global Technology, Media and Communications Conference