As SoftBank’s investment is looming on the horizon, Uber is reporting losses on the rise in the third quarter of the year. Uber reported unadjusted net losses of $1.46 billion in the third quarter, according to Reuters reports. The adjusted figure, according to The Financial Times, is $743m...
Ride-hailing app company Uber, which made news when it covered up a huge data breach that exposed roughly 600,000 driver’s license numbers, could face investigations by regulators around the globe. According to a report in Fortune published Wednesday (Nov. 22), regulators in the U.K., U.S., Australia and...
Ridesharing app Uber confirmed the company has reached a deal, paving the way for Japan’s SoftBank to invest in it, according to a Monday (Nov. 13) report in TechCrunch. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,”...
Masayoshi Son, the head of SoftBank who is in talks to make a big investment in ridesharing company Uber Technologies, warned he could walk away. Bloomberg, citing Son, reported news that the executive said he could give up on the Uber investment, potentially even pouring...
Uber Technologies’ efforts to complete an investment by SoftBank Group that would inject billions of dollars into the ride-hailing company is at risk, thanks to former CEO Travis Kalanick. Citing people familiar with the matter, The Wall Street Journal reported news that Kalanick is fighting...
Ridesharing company Uber announced news of the launch of its Uber Visa Card, which is a credit card with no annual fee. In a blog post, the company said it created the card with its riders in mind after speaking with them about how and where...
Uber is hitting passengers with some new fees, created to entice drivers who don’t want to wait for slow passengers, drive longer distances for out-of-the-way pickups or deal with last-minute trip cancellations. Drivers will now earn standard time and distance rates on the way to...
Ride-hailing platform Lyft, a competitor to Uber, announced Thursday (Oct. 19) that CapitalG, Alphabet’s growth investment fund, was the lead investor in a $1 billion round of financing. In a company blog post announcing the funding, Lyft said its valuation will be $11 billion following the investment. “We’re also excited...
UberEATS, the food delivery branch of the ridesharing company lately embroiled in a series of scandals culminating in the ouster of its CEO, is on track to post more than $3 billion in gross sales by the year’s end, The Financial Times reports. This comes at...
