Didi Chuxing, the Chinese ride-hailing company, and SoftBank are reportedly teaming up to invest $2 billion in Grab, the leading ridesharing company operating out of Southeast Asia. According to a news report in Recode, in addition to the investment, Grab expects to raise $500 million from...
Startup Cargo has raised $1.75 million in seed funding to place mobile shops in Uber and Lyft drivers’ vehicles. According to Tech Crunch, the money was raised from Techstars, Detroit Venture Partners, Fontinalis Partners and Rosecliff Ventures. Cargo gives Uber and Lyft drivers the chance...
Grab Taxi Holdings, the Singapore ride-hailing company and Uber Technologies’ largest rival in Southeast Asia, is in the processing of raising $2 billion in venture capital (VC) funding. According to a news report in The Wall Street Journal late last week, the paper cited people familiar...
Uber Technologies’ venture capitalists and the company’s board may be gearing up for a share sale to SoftBank Group and others, at the urging of early investor Benchmark, Bloomberg reports. The newswire quoted unnamed sources “familiar with the matter.” The discussion of a share sale...
Uber announced Thursday (July 13) that it is teaming up with Yandex to create a new company that combines its Rides and EATS business in Russia. In a blog post announcing the news, the ridesharing company said the Russian merger will also include business in Azerbaijan,...
Uber told investors to expect bookings to increase and losses to narrow during its first presentation to shareholders since Travis Kalanick was pushed out as the company’s CEO. According to news from Fortune, over the course of a 15-minute conference call, Uber executives predicted that Uber...
The New York Times reports news that ride-hailing has returned to New York state and Long Island after a two-year battle by Lyft, Via, Uber and others to lift the ban on their carsharing services. Among the reasons for the ban were concerns about the...
Friction is something that I talk and write about a lot. Its abundance in payments and commerce is what inspires innovators to challenge a friction-filled status quo and create something new. But friction can also be what sidelines those who set out to eliminate one...
With 30 percent of the app-driven ridesharing trips taken in the United States, a decade into its journey, Lyft is proving to be a formidable Uber competitor. And part of that is due to the firm’s structure, according to President John Zimmer. In an interview with...
