SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced the pricing of $900 million principal amount of 7.500% Senior Notes due 2025 (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: Uber Announces Pricing of Upsized $900 Million Senior Notes Offering
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Uber: Uber Announces Proposed $750 Million Senior Notes Offering
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced that it proposes to offer $750 million principal amount of Senior Notes due 2025 (the “notes”), subject to market conditions and other factors. The notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act… Continue reading Uber: Uber Announces Proposed $750 Million Senior Notes Offering
A Grubhub-Uber tie-up would remake the food delivery landscape
Earlier today news broke that Uber is pursuing an acquisition of Grubhub. The global ride-hailing giant is worth a multiple of the American food delivery service, making the tie-up financially feasible, provided that a palatable price can be found for both parties. The Wall Street Journal broke the news; you can read TechCrunch’s coverage of… Continue reading A Grubhub-Uber tie-up would remake the food delivery landscape
Uber is reportedly in talks to buy GrubHub
Uber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. According to the WSJ’s sources, GrubHub wants 2.15 Uber shares for each GrubHubs share. Uber first approached GrubHub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. A Bloomberg report… Continue reading Uber is reportedly in talks to buy GrubHub
Uber pushes adjusted quarterly profit target to 2021
Uber has pushed its target to achieve a measure of profitability to a quarter in 2021, reversing a decision made just three months ago to move up the goal to the end of this year. Uber will miss its target to reach an adjusted EBITDA quarterly profit in the fourth period of 2020, CFO Nelson… Continue reading Uber pushes adjusted quarterly profit target to 2021
Uber: Uber Announces Results for First Quarter 2020
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended March 31, 2020. Financial Highlights for First Quarter 2020 Gross Bookings grew to $15.8 billion, up 8% year-over-year, or 10% on a constant currency basis, with Rides declining 3% and Eats growing 54% year-over-year, respectively, on a constant currency basis.… Continue reading Uber: Uber Announces Results for First Quarter 2020
Uber leads $170M Lime investment, offloads Jump to Lime
Lime has announced that it has raised a $170 million funding round. Uber is the leading investor with existing investors Alphabet, Bain Capital Ventures, GV and others also participating. The Information first reported on the new funding round before the official announcement. As part of the deal, Lime is also acquiring Uber’s micromobility subsidiary Jump.… Continue reading Uber leads $170M Lime investment, offloads Jump to Lime
Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Reuters Shares of Lyft surged as much as 17% shortly after the market opened Thursday following the company’s better-than-expected first-quarter earnings results. Despite the impact of the coronavirus pandemic, which has hit the ride-hailing sector hard, Lyft’s results exceeded Wall Street’s expectations. The company beat estimates for revenue, and posted a narrower loss than analysts… Continue reading Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Uber lays off hundreds in Egypt amid global cuts, staff says
CAIRO, May 6 (Reuters) – Uber Technologies Inc laid off hundreds of office-based staff in Egypt on Wednesday as the ride-hailing firm made wider cuts amid the fallout from the new coronavirus, one current and two former employees said. The former employees, both of whom lost their jobs on Wednesday, and one employee who retained… Continue reading Uber lays off hundreds in Egypt amid global cuts, staff says
Lyft sees rider demand rebound in late April, ‘on path to profitability’
(Reuters) – Lyft Inc (LYFT.O) on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy. FILE PHOTO: A Lyft driver wears a mask during the coronavirus outbreak, as he leaves passengers in the U.S. Capitol Hill neighborhood in Washington,… Continue reading Lyft sees rider demand rebound in late April, ‘on path to profitability’