China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn. The company, which is backed by SoftBank Group Corp. and Tencent Holdings Ltd., said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1… Continue reading Chinese startup Full Truck Alliance breaks even en route to IPO
Tag: Uber
INMOTION VENTURES BACKS SELF-DRIVING CAR COMPANY VOYAGE IN $31M RAISE
InMotion Ventures has announced its follow-on investment into autonomous vehicle manufacturer Voyage. The investment is part of a $31m Series B fundraiser, led by Franklin Templeton, with participation from Khosla Ventures and Chevron Technology Ventures – bringing its total capital raised to $52m. Voyage will be using the fresh funding to bring its technology to… Continue reading INMOTION VENTURES BACKS SELF-DRIVING CAR COMPANY VOYAGE IN $31M RAISE
Applied Intuition raises $40 million for autonomous vehicle simulation tools – VentureBeat
Simulators are invaluable assets for companies developing autonomous vehicles (AVs). These tools are used by Waymo, GM’s Cruise, Zoox, and countless others to validate systems’ scalability and safety, not to mention training the machine learning algorithms underlying car makers’ real-world vehicles. But not every company has the resources to build their own software simulator from… Continue reading Applied Intuition raises $40 million for autonomous vehicle simulation tools – VentureBeat
Uber Announces Pricing of Upsized $1.2 Billion Senior Notes Offering
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced the pricing of $1.2 billion principal amount of 7.500% Senior Notes due 2027 (the “notes”). The principal amount of the offering was increased from the previously announced offering size of $750 million. The notes are being offered only to persons reasonably believed to be qualified institutional… Continue reading Uber Announces Pricing of Upsized $1.2 Billion Senior Notes Offering
India’s ride-hailing giant Ola makes serious bet on two-wheeler
Ola, the largest ride-hailing service in India, said today its two-wheeler service — Ola Bike — is now operational in 150 Indian cities and towns and it intends to grow this business by three times in the next one year. The eight-year-old SoftBank-backed firm said Ola Bike is enabling it to reach the “hinterlands of… Continue reading India’s ride-hailing giant Ola makes serious bet on two-wheeler
Uber plans to keep defending independent contractor model for drivers
In light of gig worker protections bill AB-5 passing in the California State Senate last night, and amendments to AB-5 passing in the Assembly this morning, Uber has made it clear it plans to do whatever it takes to keep its drivers independent contractors. “We will continue to advocate for a compromise agreement,” Uber Chief… Continue reading Uber plans to keep defending independent contractor model for drivers
Uber lays off 435 people across engineering and product teams
Uber has laid off 435 employees across its product and engineering teams, the company announced today. Combined, the layoffs represent about 8% of the organization, with 170 people leaving the product team and 265 people leaving the engineering team. The layoffs had no effect on Eats, which is one of Uber’s top-performing products, and Freight,… Continue reading Uber lays off 435 people across engineering and product teams
Interview: Alain Visser, Chief Executive, Lynk & Co International – Automotive World
The design of an office is usually a good indicator of how a company likes to operate. Many traditional corporate offices resemble the waiting area of a dental practice—clean, traditional and often due a revamp. Despite its business in manufacturing vehicles, Geely subsidiary Lynk & Co is adamant that it is not like the other… Continue reading Interview: Alain Visser, Chief Executive, Lynk & Co International – Automotive World
Shaping the future of mobility, one child at a time: our investment in Zūm
Roughly half a million school buses transport more than 25 million students to and from school each day in the US, where the majority of buses are still state-owned and operated. The cost of transportation has increased rapidly over years, and this results in a public expense of close to $25 billion per year. As… Continue reading Shaping the future of mobility, one child at a time: our investment in Zūm
Lyft faces sexual assault lawsuit
Fourteen women today filed a lawsuit against Lyft alleging the company has not addressed complaints pertaining to sexual assault, including rape. The suit, filed today in the Superior Court of San Francisco, seeks special, general and punitive damages, among other types of relief. In one case, a woman describes a Lyft driver who ended the… Continue reading Lyft faces sexual assault lawsuit