Tag: Uber

Uber losses widen as it pours cash into new ventures

Uber’s losses widened in its second quarter as it poured cash into new services, such as food delivery and autonomous car technology, and aggressively expanded its core ride-hailing services overseas.  The San Francisco-based company reported adjusted losses before interest, tax, depreciation and amortisation of $404m (£318m) for the three months to the end of June, compared to $304m… Continue reading Uber losses widen as it pours cash into new ventures

Uber narrows losses but growth slows

Uber narrowed its losses in the second quarter but remains a long way from turning a profit, according to company results published on Wednesday. The ride-hailing firm reported an $891m (£702m) net loss for the three months to 30 June, compared with a $1.1bn loss a year ago. Revenue growth slowed and the firm continues… Continue reading Uber narrows losses but growth slows

Uber reports Q2 losses of $404 million, up 32 percent from Q1

While Uber isn’t required to disclose its financial results, Uber has done so for the past few quarters as it gears up to go public next year. In Q2 2018, Uber’s net revenue was up 8 percent quarter-over-quarter, at $2.7 billion. Year-over-year, that’s a 51 percent increase. Uber recorded gross bookings — the total taken… Continue reading Uber reports Q2 losses of $404 million, up 32 percent from Q1

Uber told by investors to sell self-driving unit: The Information

(Reuters) – Investors have told Uber Technologies Inc [UBER.UL] it would be wise to sell off its self-driving car unit after it racked up losses of $125 million to $200 million each quarter for the past 18 months, tech news site The Information reported on Wednesday, citing an unnamed person familiar with the issue. The… Continue reading Uber told by investors to sell self-driving unit: The Information

Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia

Uber agreed to sell its Southeast Asia business in March, but it isn’t leaving the region. In fact, the U.S. firm is doubling down with plans to more than double its staff in Singapore. That’s right. Uber is currently in the midst of a major recruitment drive that will see Singapore, the first city it… Continue reading Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia

China’s Didi beefs up its newly-independent car services business with an acquisition

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.… Continue reading China’s Didi beefs up its newly-independent car services business with an acquisition

FiveAI to start a trial of its shared autonomous car fleet in London in 2019

After raising $35 million to develop driverless car technology and a strategy to build a fleet of shared vehicles, UK startup FiveAI is announcing its first on-street trial: a service aimed at commuters in the London outer boroughs of Bromley and Croydon. Projected to begin in late 2019, it will kick off first with a… Continue reading FiveAI to start a trial of its shared autonomous car fleet in London in 2019

Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

August 14, 2018 Vogo, a scooter and bike sharing start-up, has raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp chairman Pawan Munjal, according to a person familiar with the matter. Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding… Continue reading Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

New Uber feature uses machine learning to sort business and personal rides

Uber announced a new program today called Profile Recommendations that takes advantage of machine intelligence to reduce user error when switching between personal and business accounts. It’s not unusual for a person to have both types of accounts. When you’re out and about, it’s easy to forget to switch between them when appropriate. Uber wants to… Continue reading New Uber feature uses machine learning to sort business and personal rides