The chief executive officer for Singapore’s ride-hailing unicorn Grab said business is off, but the platform’s diversified services and liquidity will help drive it through the pandemic storm. “We are fortunate to have ample liquidity to tide us through, whether it’s a 12-month recession or...
A new service from Lyft will allow for on-demand delivery of groceries and other essential products, the ridesharing company said. The service, intended to help people and to boost the company during the coronavirus pandemic that has eroded its usual ridesharing duties, will pay like...
With ridesharing demand diminished by the COVID-19 pandemic, Uber Technologies Inc. is providing its drivers with job listings to fill the void, Reuters reported. “During this difficult period, drivers are more important than ever: every trip you’re providing now is an essential trip for your community,”...
Business models show their resilience when they are stress tested — and limitations are spotlighted, too. So it is with verticals such as ride-hailing and the online firms that serve them, promising disruption to getting people to and from where they need to go. In...
While the coronavirus forces consumers to stay inside, Amazon is joining forces with Lyft to attract drivers for grocery and package deliveries. Lyft has directed its drivers to pursue Amazon positions as warehouse workers, delivery people or grocery shoppers “as a way to earn additional...
In an unexpected twist for a tech company, Uber has filed a federal lawsuit against the Los Angeles Department of Transportation (LADOT), one that has been brewing for 18 months, according to a Wall Street Journal report on Wednesday (March 25). Uber’s draft lawsuit accuses...
In business, cash is king. It’s a saying that underpins examining companies’ balance sheets and cash flow. The more money in the proverbial bank, goes the thinking, the more money is on hand to deploy for strategic acquisitions, to leverage into R&D (and innovation) or...
Uber has been hit especially hard by the coronavirus pandemic, with rides down as much as 70 percent in places like Seattle. The company has reportedly been looking into other avenues to make money, including the potential delivery of medical supplies, according to a report....
Add Uber to the list of companies that have been affected by the coronavirus’ spread across the globe. Uber said on Wednesday that it expected revenues for its ride-hailing business to take a minor hit, according to Reuters. Speaking at the Morgan Stanley 2020 Technology,...
