Uber Technologies Inc on Tuesday reported positive quarterly cash flow for the first time ever and forecast third-quarter operating profit above estimates, betting on steady demand for its ride-hailing and food-delivery services. Uber shares, which have lost more than 40% this year, surged 15% to $28.41 in premarket trading and helped drive an 8% gain in rival… Continue reading Uber turns quarterly cash flow positive for the first time in Q2The number of drivers and delivery agents rose 31% to 5 million.
Tag: Lyft
Blue Cross Blue Shield of Massachusetts Sponsors Free Bluebikes Adventure Passes Every Monday in August
Riders can enjoy complimentary passes as part of “Mindful Mondays” throughout National Wellness Month, courtesy of Blue Cross BOSTON, Aug. 1, 2022 /PRNewswire/ — In recognition of National Wellness Month, Blue Cross Blue Shield of Massachusetts (“Blue Cross”) is sponsoring free Bluebikes Adventure Passes each Monday in August, beginning August 1, as part of its… Continue reading Blue Cross Blue Shield of Massachusetts Sponsors Free Bluebikes Adventure Passes Every Monday in August
Lyft to Close Rental Car Business
Lyft’s car rental business had five locations. Photo: Chris Brown Lyft plans to shut down its car rental business and cut about 60 jobs, according to a report by Bloomberg. The company confirmed the news last week and it was first reported by The Wall Street Journal. The layoffs affect less than 2% of Lyft’s… Continue reading Lyft to Close Rental Car Business
Can Alto succeed at employee-driven ride-hail?
Ride-hail startup Alto thinks the current gig worker-based market is inherently broken. Drivers’ salaries are squeezed by the costs of owning and maintaining a vehicle; riders aren’t guaranteed a high-quality service; cities have had to deal with angry taxi drivers; and the app-based companies themselves that have undercharged users to expand into new markets are… Continue reading Can Alto succeed at employee-driven ride-hail?
Big tech companies are pulling back on hiring. Is it time to worry?
Image: Getty/Thomas Barwick Google and Microsoft have both instituted measures to slow hiring, marking the latest in a series of tech-giant moves to decrease new employment. Google CEO Sundar Pichai has announced initiatives to slow hiring for the rest of the year, and has paused most new offers for two weeks to reevaluate hiring plans,… Continue reading Big tech companies are pulling back on hiring. Is it time to worry?
Lyft Rentals shuts down as the ride-sharing company lays off about 60 people
Lyft launched its rental car service in December 2019, more than a year after Uber shut down a similar program that provided rental cars and access to bike rides and public transportation. Lyft Rentals stood out for its low starting rate of $35 a day and lack of mileage limit that also allowed renters as… Continue reading Lyft Rentals shuts down as the ride-sharing company lays off about 60 people
Lyft lays off about 60 employees, shutters in-house car rentals program
Lyft has joined the ranks of tech companies trimming its workforce. The news of the layoffs, initially spotted in LinkedIn posts by now-former Lyft employees, has been confirmed by the company. Lyft said it has laid off about 60 people and dropped its in-house car rental service and is consolidating global operations. The Wall Street… Continue reading Lyft lays off about 60 employees, shutters in-house car rentals program
Curbee Rolls Out Free Signature Health Check For Visibility Into Urgent & Upcoming Car Maintenance Needs
Signature Health Check allows consumers to plan for future necessary repairs and services to keep their cars in the best condition while avoiding unexpected headaches and fees at repair shops SAN FRANCISCO, July 19, 2022 /PRNewswire/ — Curbee, a mobile car-repair company redefining the convenience and transparency of traditional car maintenance, is announcing its Signature… Continue reading Curbee Rolls Out Free Signature Health Check For Visibility Into Urgent & Upcoming Car Maintenance Needs
Uber will pay over $2 million to disabled riders after federal settlement
Uber has settled with the Department of Justice over allegations that it discriminated against disabled passengers, the DOJ announced in a press release on Monday. As part of the agreement, Uber will credit double the total wait fees issued to the 65,000 disabled riders already identified by Uber’s programs and commit more than $2 million… Continue reading Uber will pay over $2 million to disabled riders after federal settlement
BIS Research Study Projects the Mobility as a Service Market to Reach $379.66 Billion by 2031
FREMONT, Calif., July 15, 2022 /PRNewswire/ — The premium market intelligence study by BIS Research titled Mobility as a Service Market – A Global and Regional Analysis projects the market to reach $379.66 billion in terms of revenue by 2031, at a CAGR of 25.7%. With the changing landscape of passengers’ daily commutes, the demand for… Continue reading BIS Research Study Projects the Mobility as a Service Market to Reach $379.66 Billion by 2031