Ride-hailing

Lyft’s Good Problem to Have: Its IPO Is Oversubscribed

Lyft’s Good Problem to Have: Its IPO Is Oversubscribed

Olivia Zaleski and Eric Newcomer, Bloomberg

Looks like Lyft's initial public offering is already oversubscribed. Investors are willing to overlook its significant losses and forget that strong demand ahead of an offering does not mean success in public markets. As Facebook has shown.

3 days ago

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.

5 days 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 week 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.

2 weeks 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.

3 weeks 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 month ago

China’s Ridehailing Giant Didi to Cut 2,000 Jobs as It Revamps Strategy

China’s Ridehailing Giant Didi to Cut 2,000 Jobs as It Revamps Strategy

Lulu Yilun Chen, Bloomberg

Didi Chuxing has a string of problems now, among them a poor safety image, fresh competition from players such as Meituan Dianping and China's cooling economy. A re-evaluation of its businesses is needed.

1 month ago

Indonesia’s Go-Jek Seeks $2 Billion More in Funding as Startup Wars Heat Up

Indonesia’s Go-Jek Seeks $2 Billion More in Funding as Startup Wars Heat Up

Yoolim Lee, Crystal Tse and Joyce Koh, Bloomberg

This is a battle of titans in the ridehailing sector in Southeast Asia. And with Go-Jek and Grab angling to become the region's super-app, providing a plethora of services from insurance to payment, describing them as ridehailing players will soon no longer do.

1 month ago

Parent of Thailand’s Centara Hotel Chain Eyes a $200 Million Stake in Grab

Parent of Thailand’s Centara Hotel Chain Eyes a $200 Million Stake in Grab

Yoolim Lee and Natnicha Chuwiruch, Bloomberg

Thailand’s Central Group, which owns hotels, restaurants, supermarkets and department stores, now wants to grab a piece of ride hailing. Why not? For one, imagine the promotions it can push, via the Grab Thailand app, to a captive audience sitting restless in snarling traffic.

2 months ago

Singapore Proposes Stricter Ridehailing Rules Because the Services Are the Same

Singapore Proposes Stricter Ridehailing Rules Because the Services Are the Same

Youlim Lee, Bloomberg

With more players in the market, Singapore no longer sees ridehailing firms as technology, but transport companies which should be subject to the same rules as street-hail operators. Safety is another big issue.

2 months ago

Where Do Government Employees Go When They’re Not Being Paid? Uber and Lyft.

Where Do Government Employees Go When They’re Not Being Paid? Uber and Lyft.

Carlyann Edwards, Bloomberg

This is now the second paycheck government workers have missed, thanks to the ongoing political stalemate. More and more employees are having to swap their supposedly steady jobs with work in the gig economy.

2 months ago

Investor in Dubai Ridehailing Service Careem Backs Uber Merger

Investor in Dubai Ridehailing Service Careem Backs Uber Merger

Francine Lacqua and Matthew Martin, Bloomberg

A blessing from Kingdom must be sweet news for Uber, which has been in talks to buy a majority share of its rival in Dubai. Whether it means much remains to be seen.

2 months ago