Cars

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Lyft Expected to Reveal a $2 Billion IPO Plan Anytime Now

Lyft Expected to Reveal a $2 Billion IPO Plan Anytime Now

Olivia Zaleski and Eric Newcomer, Bloomberg

Lyft aims for a market valuation of $20 billion to $25 billion, which will make its offering the biggest from a technology upstart since Snap’s IPO two years ago.

1 year ago

Uber Closes in on Selling $1 Billion Stake in Its Self-Driving Car Unit

Uber Closes in on Selling $1 Billion Stake in Its Self-Driving Car Unit

Eric Newcomer, Bloomberg

Given the massive bet it has on Uber, SoftBank will want to do all to ensure the ridehailing company's success — including bankrolling Uber’s very expensive self-driving car unit.

1 year ago

SoftBank Invests Another $1.5 Billion in Singapore’s Grab

SoftBank Invests Another $1.5 Billion in Singapore’s Grab

Yoolim Lee and Pavel Alpeyev, Bloomberg

Already a major investor in Singapore's Grab, SoftBank is pumping in more big money into the ridehailing company, which is in a two-horse race with Indonesia's Go-Jek to gain dominance in Southeast Asia. We're tightening our seat belts watching this epic battle.

1 year ago

Ayala May Back Ridehailing Service Go-Jek’s Expansion in the Philippines

Ayala May Back Ridehailing Service Go-Jek’s Expansion in the Philippines

Yoolim Lee, Claire Jiao and Cecilia Yap, Bloomberg

The oldest and largest conglomerate in the Philippines, whose business is primarily real estate and hotels, is investing in technology companies. Go-Jek is likely next. That would end Grab's monopoly in the Philippines.

1 year ago

Lyft Aims to Reward Loyal Drivers While Going Public

Lyft Aims to Reward Loyal Drivers While Going Public

Krista Gmelich, Bloomberg

One of Lyft's major risk factors is the possibility of its drivers bailing to another competing service for some reason. This move will generate goodwill with the company's most loyal drivers, and others who are willing to buy into Lyft's long-term future.

1 year ago

Lyft Readies to Go Public Before Rival Uber

Lyft Readies to Go Public Before Rival Uber

Olivia Zaleski and Eric Newcomer, Bloomberg

Lyft's core focus was on growing in the U.S. while Uber jockeyed for global dominance. It didn't quite work out for Uber, and Lyft is now likely to beat it to the punch as a public company even though both are still losing money.

1 year ago

Avis and Hertz Chart Their Futures After Yet Another Comeback

Avis and Hertz Chart Their Futures After Yet Another Comeback

Andrew Sheivachman, Skift

Car rental companies are looking to become transportation networking companies like Uber and Lyft, while also renting cars to drivers of those ridesharing services. But first, they need to bring their core business back on track.

1 year ago

Uber Looks to Acquire Dubai-Based Competitor

Uber Looks to Acquire Dubai-Based Competitor

Giles Turner, Dinesh Nair, Matthew Martin and Eric Newcomer, Bloomberg

After getting pushed out of markets across Asia, it's not surprising Uber would look to further establish itself in the Middle East as it prepares to go public.

1 year ago

Lyft’s Imminent IPO Filing Could Value the Company at $25 Billion

Lyft’s Imminent IPO Filing Could Value the Company at $25 Billion

Eric Newcomer, Bloomberg

And the winner is ... Lyft, maybe. It appears as though Lyft may beat Uber to the altar, meaning Nasdaq. But Uber's IPO, when it arrives, would be a lot larger.

1 year ago

How Avis Wants to Build Transparency in Corporate Travel

How Avis Wants to Build Transparency in Corporate Travel

Brian Sumers, Skift

Can this two giant global travel companies work out their differences? Surely consumers would be prefer to know they can keep searching for United fares on Expedia.

1 year ago

Airstream Is Turning Recreational Vehicles Into Smart Homes

Airstream Is Turning Recreational Vehicles Into Smart Homes

Kyle Stock, Bloomberg

The classic American camper brand will now let digital nomads control their campers by iPhone. Airstream started taking orders for a $1,000 kit that will convert any of its vehicles into a smart home. The move gives new meaning to the phrase "turn on, tune in, and drop out."

1 year ago

Uber’s Losses Continue Despite Push Into Food Delivery and Freight

Uber’s Losses Continue Despite Push Into Food Delivery and Freight

Eric Newcomer, Bloomberg

Uber continues to lose money despite gains in delivery and freight services. Pushing into new sectors isn't doing much for the company's balance sheet as it gears up to go public.

1 year ago