To use Uber Rent, Uber clients in Brisbane must update the Uber app that allows them to select a rental. Photo via Uber. Uber has launched a new platform — Uber Rent — that allows ride-hail customers to rent a car. Brisbane, Australia is the first city to trial the service, according to an Uber… Continue reading Uber Trials Daily Car Rentals in Australia
Tag: Lyft
Uber shares tumble 5% as reports indicate it will lose Grubhub deal to European rival
Update: Just Eats Takeaway confirmed today in a release that “it is in advanced discussions with Grubhub regarding an all-share combination of Just Eat Takeaway.com with Grubhub.” More when we have it. Reports this morning indicate that Uber, the American ride-hailing giant with a global footprint, will lose out on its attempt to buy Grubhub, an… Continue reading Uber shares tumble 5% as reports indicate it will lose Grubhub deal to European rival
SoftBank leads $500m funding in Chinese ride-hailer Didi
HONG KONG/TOKYO China’s largest ride-hailing company Didi Chuxing has raised $500 million for its autonomous driving subsidiary in a funding round led by SoftBank. The investment, the largest single funding round in China’s autonomous driving sector, marks Didi’s growing ambition in developing its own self-driving fleets as competition heats up and more companies begin launching… Continue reading SoftBank leads $500m funding in Chinese ride-hailer Didi
‘Nobody’s making money in this business’: Uber’s CEO defends a possible GrubHub merger amid criticism of the reported merger talks (UBER, GRUB)
Cries that a combined Uber and GrubHub could control up to 90% of the food-delivery market are overblown, according to chief executive Dara Khosrowshahi. As everyone from grocery stores to independent restaurants and chains make the switch to delivery amid the coronavirus pandemic, the market is growing too rapidly for any one business to grab… Continue reading ‘Nobody’s making money in this business’: Uber’s CEO defends a possible GrubHub merger amid criticism of the reported merger talks (UBER, GRUB)
China’s Didi will begin using AI to run virus monitoring in Latin America
BEIJING, May 20 (Reuters) – China ride-hailing giant Didi Chuxing said on Wednesday that it will start using artificial intelligence (AI) technologies to verify if drivers in its Latin American markets wear masks and disinfect cars to keep rides safe amid the coronavirus pandemic. Didi, which is in eight countries across Latin America, Australia and… Continue reading China’s Didi will begin using AI to run virus monitoring in Latin America
Uber lays off another 3,000 employees
Uber is laying off another 3,000 employees, the Wall Street Journal first reported. Uber is also closing 45 offices, and rethinking its approach in areas like freight and autonomous vehicle technology. “I knew that I had to make a hard decision, not because we are a public company, or to protect or stock price, or… Continue reading Uber lays off another 3,000 employees
Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Almost as quickly as GrubHub’s stock price skyrocketed following reports Uber had made a takeover bid, so too came the backlash. The potential deal would create a delivery megalith with market share well over 50% in major cities, but also represents a “new low in pandemic profiteering,” as David Cicilline, a congressman and head of… Continue reading Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Lyft Announces Private Offering of $650 million of Convertible Senior Notes and Capped Call to Increase Effective Conversion Premium to 150% – GlobeNewswire
SAN FRANCISCO, May 12, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced its intention to offer, subject to market conditions and other factors, $650 million aggregate principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant… Continue reading Lyft Announces Private Offering of $650 million of Convertible Senior Notes and Capped Call to Increase Effective Conversion Premium to 150% – GlobeNewswire
Lyft: Lyft Announces Private Offering of $650 million of Convertible Senior Notes and Capped Call to Increase Effective Conversion Premium to 150%
SAN FRANCISCO, May 12, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced its intention to offer, subject to market conditions and other factors, $650 million aggregate principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant… Continue reading Lyft: Lyft Announces Private Offering of $650 million of Convertible Senior Notes and Capped Call to Increase Effective Conversion Premium to 150%
Lyft: Lyft launching personal health certification, will require face masks as part of new Health Safety Program
SAN FRANCISCO, May 07, 2020 (GLOBE NEWSWIRE) — As local governments ease stay-at-home orders, Lyft is ramping up efforts to protect riders and drivers — including establishing new health and safety standards for ridesharing. Today we’re announcing a Health Safety Program with new policies, commitments, and products designed to address the needs of our community… Continue reading Lyft: Lyft launching personal health certification, will require face masks as part of new Health Safety Program