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
Tag: Uber
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
Uber will spend $200 million to expand its Uber Freight trucking venture
Uber will invest $200 million and hire thousands of engineers to bolster its two-year-old long-haul trucking venture, Uber Freight, the company announced today. The expanded business will be headquartered in a newly opened office in downtown Chicago where it will house up to 2,000 engineers that Uber plans to hire over the next three years.… Continue reading Uber will spend $200 million to expand its Uber Freight trucking venture
Uber Eats to pull out of South Korea amid tough competition
FILE PHOTO: Uber Eats workers wait for orders in central Kiev, Ukraine July 31, 2019. REUTERS/Valentyn Ogirenko SEOUL (Reuters) – Uber Technologies Inc’s (UBER.N) restaurant delivery business will terminate its service in South Korea, Uber Eats said on Monday. Facing intense competition in the world’s No.4 online food delivery market, the U.S. company is struggling… Continue reading Uber Eats to pull out of South Korea amid tough competition
Volocopter raises $55M led by Volvo owner Geely, sets 3-year timeline for its flying taxi service
The promise of flying cars has become an idea more synonymous with the tech world’s shortcomings than its exciting potential, but today one of the startups that has been focused on actually trying to make small, airborne vehicles a reality is announcing a fundraise and says it’s on track for a commercial launch in two to… Continue reading Volocopter raises $55M led by Volvo owner Geely, sets 3-year timeline for its flying taxi service