SAN FRANCISCO — Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth. The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether… Continue reading Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
Tag: Uber
FlixMobility extends Series F at $2B+ valuation as it gears up to add cars to its bus and train network
Back in July it emerged that FlixMobility — the company behind the network of ubiquitous green FlixBus coaches that crisscross Europe and parts of the U.S. — had raised about €500 million in the largest-ever round of funding for a German tech company. That turned out not to be the full story. Today, the company… Continue reading FlixMobility extends Series F at $2B+ valuation as it gears up to add cars to its bus and train network
Lyft’s scooters steering new customers to ride-hailing, but winter is coming
FILE PHOTO: A man rides a Lyft scooter near the White House in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – A quarter of Lyft Inc LYFT.N customers who use its bikes and scooters are new to the company, executives said on Wednesday, outlining how investments in the expensive growth area may eventually… Continue reading Lyft’s scooters steering new customers to ride-hailing, but winter is coming
Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
The auto industry is going through massive change — and Tesla and its outspoken CEO, Elon Musk, are seen as the great disruptors. But as Ford CEO Jim Hackett pointed out during a recent interview for CNN Business’ The Table with Poppy Harlow in Detroit, his company caused, arguably, the biggest industrial disruption of the… Continue reading Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
(Reuters) – Lyft Inc posted a robust jump in revenue on Wednesday in its second-quarter results, helping the ride-hailing company to a better-than-expected loss as more riders used the service and price competition with rival Uber eased. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson/File… Continue reading Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It
Traffic Updates Ride-hailing apps like Uber and Lyft are directly responsible for making traffic in cities worse. That’s not new: studies have arrived at the same conclusions again and again. What’s different this time around, though, is that Uber and Lyft actually funded the study that came back to point the finger at them, according… Continue reading Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It
Self-driving truck startup Kodiak Robotics begins deliveries in Texas
A year after coming out of stealth mode with $40 million, self-driving truck startup Kodiak Robotics will begin making its first commercial deliveries in Texas. Kodiak will open a new facility in North Texas to support its freight operations along with increased testing in the state. There are some caveats to the milestone. Kodiak’s self-driving… Continue reading Self-driving truck startup Kodiak Robotics begins deliveries in Texas
Uber and Lyft finally admit they’re making traffic congestion worse in cities
Uber and Lyft have long argued that ride-hailing apps have the potential to make cities better by easing traffic and reducing personal car ownership. And every time a study emerges that counters that narrative by exposing ride-hailing’s worsening effects on congestion, the two companies respond by casting doubt on the studies’ findings. Well, this time… Continue reading Uber and Lyft finally admit they’re making traffic congestion worse in cities
Didi Chuxing Spins Off its Autonomous Driving Unit as an Independent Company – FutureCar
author: Eric Walz Didi Chuxing, the world’s largest transportation provider, announced that it has spun off its autonomous driving unit into an independent company. Didi said new unit will continue to focus on research and development, product application, and business development related to autonomous driving technologies. DiDi’s CTO, Zhang Bo, will lead the new autonomous… Continue reading Didi Chuxing Spins Off its Autonomous Driving Unit as an Independent Company – FutureCar
SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion
Fair, the vehicle subscription startup backed by SoftBank, is loading its executive team with veterans in the tech, venture and automotive industries as it seeks to build out its Uber leasing program and expand beyond North America. Fair.com today announced three key hires to lead the development of its car subscription app, financing department and… Continue reading SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion