Now that Uber has completed its secondary transaction with SoftBank, there is a clearer picture of just how much money the company’s investors are walking away with after the deal. Last month, SoftBank announced that it had acquired a large stake in Uber that equaled...
Uber former CEO Travis Kalanick will be selling nearly a full third of his 10 percent stake in Uber for $1.4 billion, according to new reports. The move comes as part of a deal with SoftBank, which will soon own 17.5 percent of Uber —...
One of Uber’s ridesharing rivals, China’s Didi Chuxing, has acquired Brazilian startup 99, reportedly for around $1 billion. According to TechCrunch, the news comes after Didi received more than $4 billion in an equity funding round in December to “support AI capacity-building, international expansion and...
Driving a traditional taxi cab is not an inexpensive proposition because the medallions necessary to do the driving are not cheap. And, as Uber and Lyft have eaten up more and more of the market, drivers are defaulting on their debts. And that is bad...
Uber Technologies has reportedly sold its subprime auto leasing business in the U.S. to Fair.com, a car marketplace startup. The Wall Street Journal said the sale of the unit marks the end of an attempt by Uber to get new drivers who don’t have access to vehicles....
Daimler’s Daimler Mobility Services announced news on Thursday (Dec. 21) that it has acquired a majority stake in Chauffeur Privé, one of the leading private hire vehicle services in France. In a press release, Daimler Mobility Services said the acquisition, for an undisclosed sum, gives...
A European Union court is slated to decide later this week if ridesharing firm Uber is a digital company or one that provides transport services. According to a report in Reuters, a ruling in the case is expected Wednesday (Dec. 20). If the court decides...
Lyft has started its self-driving car pilot with the self-driving car company nuTonomy, matching its riders with autonomous vehicles in parts of Boston. nuTonomy made the announcement that passengers in Boston’s Seaport district will experience self-driving rides on the Lyft network in nuTonomy vehicles. As the...
Uber is getting hit with accusations that it has a secret unit that was created to steal trade secrets, according to news from The Financial Times, citing information from the pretrial hearing between Uber and Alphabet’s self-driving car unit Waymo. Waymo has accused Uber of stealing...
