Optimism can be so fleeting and fragile, especially when it comes to revenue, growth and profit. That’s one lesson to consider today in reading coverage from a year ago, when Lyft was celebrating its billionth provided ride. The story for the ride-hailing operation back then...
Uber will limit drivers’ access to the app during low-demand times starting Tuesday (Sept. 17), per new regulations in New York City, according to a report by Reuters. The new regulations are meant to boost driver pay and help to lessen congestion in the city....
Uber said Thursday (Sept. 12) that it will tap $750 million in debt financing to help fund its $3.1 billion buy of Careem, a ride hailing company that is based in the Middle East. As reported by Yahoo Finance, the financing will be done through...
Grab is planning to earmark $150 million for additional research into artificial intelligence (AI), Bloomberg reported on Thursday (Sept. 5). Over the next year, the Southeast Asian ride-hailing startup will advance its developing business, which now offers food delivery, digital payments and digital content. Grab...
A superior court in Brazil has decided Uber drivers are independent from the company, according to a report by Bloomberg. The decision was handed down unanimously by 10 judges, overturning a previous ruling. “App drivers don’t have a hierarchic relationship with Uber because their services are...
Shares of Uber and Lyft hit their lowest levels ever on Tuesday (Sept. 3). CNBC reported that Uber closed down 5.7 percent to $30.70, falling below its previous low of $32.57 on Aug. 30. Lyft was down 7.2 percent to $45.42, compared to its previous low...
Summer is unofficially over and the kids are back in school. For some, that’s a mix of good and bad news (summer with children can be difficult, after all, no matter how well behaved they are), and for the fledgling ridesharing service Zum, it’s another...
Google Maps users can now plan trips across different modes of transportation, with a new feature pairing bike routes and transit with ridesharing, VentureBeat reported on Tuesday (Aug. 27). The new feature on Maps lets users streamline directions with public transit, biking and ridesharing options....
Uber is trying to reassure its customers before a tell-all book about the company is released. One excerpt of the book, authored by New York Times reporter Mike Isaac, reveals that Uber misled customers into paying $1 more per ride by telling them the rideshare...
