Texas Gov. Greg Abbott announced that Uber will receive $24 million from the state to establish a new U.S. General and Administrative Hub in Dallas. The project will create 3,000 new jobs and more than $75 million in capital investment. “I am proud to welcome...
Uber shares have hit their lowest level ever following devastating Q2 losses of $5.2 billion, according to a report by CNBC. The shares fell 7.6 percent to $37, the company’s lowest close ever. The previous low was on May 13 at $37.10. Since it first...
Facing losses, San Francisco-based Uber is instituting a tech hiring freeze among other cost-savings measures, Bloomberg reported. The company suspended new software engineer hires as well as product managers since those departments had already reached employment capacity, an Uber spokesman told Bloomberg on Friday (Aug....
Car2go, a car rental app that lets users pay by the minute, is significantly raising its rates, according to a report by TechCrunch. The company said it’s going to start using variable pricing, based on how busy the service is and the time, location and...
Waze, the GPS app owned by Google since 2013, announced that it is launching a new Carpool feature that allows users to invite multiple riders to join a carpool. Before now, a carpool could only be initiated by a driver with one other rider, and...
Uber has laid off one third of the employees, or 400 people, in its marketing department, according to a report in The New York Times. The move is an attempt by the company to streamline the way it works and to reduce costs. The company...
Japanese investor SoftBank will invest $2 billion over five years in the Southeast Asian ride-hailing firm Grab. A next-generation transportation network is planned, along with an overhaul of how medical care and other essential services are delivered, Grab said on Monday (July 29) in a...
In a move to develop new car technologies in China, Toyota Motor Corp. is planning to invest $600 million in ride-hailing giant Didi Chuxing. Toyota will also form a new joint venture as it seeks to advance connected and electric vehicles in China, Reuters reported...
The Santa Monica-based eScooter rental service Bird is being valued at $2.5 billion in a new funding round led by the venture capital firm Sequoia Capital. The Series D funding round tips Bird’s valuation above the $2.3 billion where it was pegged last year, double...
