Articles tagged “uber”

Uber CEO Hopes IPO Will Solve Its Saudi Arabia Investor Problem

Uber CEO Hopes IPO Will Solve Its Saudi Arabia Investor Problem

Dennis Schaal, Skift

Uber needs to shed its Saudi Arabia investment as long as Crown Prince Mohammed Bin Salman remains in power, and the country bombs innocents in Yemen. Uber's leaders know they have to do this, but how they dump their Saudi investment and the extent of the divorce remain to be seen.

1 month ago

Lyft’s Focus Stands in Contrast to Uber’s Ambition

Lyft’s Focus Stands in Contrast to Uber’s Ambition

Eric Newcomer, Bloomberg

It's sometimes lost in the Uber debate that the strongest companies in the world don't try to do everything at once on a global basis. The financial case for investing in a focused and nimble operation tends to be much stronger even if the headlines aren't as sexy.

1 month ago

Uber Takes a Step Closer to IPO

Uber Takes a Step Closer to IPO

Eric Newcomer, Bloomberg

The pieces are falling into place as the year comes to a close with Uber reportedly filing the paperwork for an IPO, promising to make 2019 one exciting year for ridesharing services. Who will win the race to the public markets — Uber or archrival Lyft? Or will increasing volatility in stocks slam on the brakes for those plans?

1 month ago

Lyft’s Long-Awaited IPO Is Coming Soon

Lyft’s Long-Awaited IPO Is Coming Soon

Giles Turner and Elizabeth Fournier, Bloomberg

Lyft has beat Uber to the punch, filing confidentially for an initial public offering. It turns out Lyft's focus on the U.S. at the expense of explosive international growth may pay off. The company is still losing money, though, which could worry potential investors.

1 month ago

Uber Hit With $1.2 Million Data Breach Fine

Uber Hit With $1.2 Million Data Breach Fine

Associated Press

Uber will be hoping the changes it has implemented mean that this type of thing won't happen again. We'll have to wait and see whether that is indeed the case.

2 months ago

Game On: Lyft and Uber Launch Loyalty Programs

Game On: Lyft and Uber Launch Loyalty Programs

Grant Martin, Skift

Ridesharing and homesharing services have been long overdue for loyalty program launches. Now, both Lyft and Uber are offering at least limited options.

2 months ago

VW-Backed Gett Ponders Its Strategy as Other Ridehailing Apps Pull Ahead

VW-Backed Gett Ponders Its Strategy as Other Ridehailing Apps Pull Ahead

Giles Turner, Ruth David, and Manuel Baigorri, Bloomberg

Tel Aviv-based Gett aims to overtake Uber and Lyft. But some investors like Volkswagen and Vostok, a Swedish fund manager, aren't adding in more money. The lack of capital is hindering the startup's pace.

2 months ago

Uber Launches Rewards Program for Most Loyal Customers

Uber Launches Rewards Program for Most Loyal Customers

Eric Newcomer, Bloomberg

Uber's launch of a loyalty program explains why Lyft appears to have rushed out a similar announcement earlier this week. Neither company is being generous with details, but at least Uber has committed to officially launching in nine cities this week.

2 months ago

Uber Is Going an Extra Mile to Retain Drivers Amid Labor Crunch

Uber Is Going an Extra Mile to Retain Drivers Amid Labor Crunch

Eric Newcomer, Bloomberg

Uber wants to earn loyalty from its drivers by offering extra pay and free college. But the company also wants to treat its drivers as contractors, not employees. No wonder they jump ship when a better opportunity comes up.

3 months ago

Booking Holdings Invests $200 Million in Grab as Ridehailing Becomes More Strategic

Booking Holdings Invests $200 Million in Grab as Ridehailing Becomes More Strategic

Dennis Schaal, Skift

It's becoming increasingly clear that online travel players will try to leverage the heck out of connections between food delivery, ridehailing, and booking hotels. Uber and Lyft will undoubtedly become a bigger part of the action, as well.

3 months ago

Uber Talks Up Its Side Hustles in March Toward an IPO

Uber Talks Up Its Side Hustles in March Toward an IPO

Eric Newcomer, Bloomberg

The success or failure of Uber's upcoming IPO try will hinge on the merits of its core ridesharing business. Big bets are nice to have and can turn out to have enormous impact, but investors aren't usually known for their patience and long-term thinking.

3 months ago

Uber, Airbnb and Lyft Are Setting Up 2019 as a Landmark Year in Travel IPOs

Uber, Airbnb and Lyft Are Setting Up 2019 as a Landmark Year in Travel IPOs

Dennis Schaal, Skift

In initial public offering land, it's a long time until 2019. The markets are turbulent at the moment and there are big regulatory headaches that stubbornly persist, but investors are salivating at the prospect of dropping some money into Uber and/or Airbnb. These IPO plans could be very impactful.

3 months ago