36.21 -0.11 (-0.30%)
After hours: 4:27PM EDT
|Bid||36.36 x 1300|
|Ask||36.20 x 1000|
|Day's range||34.00 - 36.45|
|52-week range||13.71 - 47.08|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||06 Aug 2020 - 10 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||38.02|
Uber is bringing a new feature to the U.S. that lets users book rides for $50 an hour and make multiple stops as the ride-hailing company tries to respond to changing consumer needs during the COVID-19 pandemic. The product will be available in Atlanta, Chicago, Dallas, Houston, Miami, Orlando, Tampa Bay, Philadelphia, Phoenix, Tacoma, Seattle and Washington, D.C. Uber said it expects to expand this feature into other U.S. cities in the coming weeks. Uber made the move in an effort to offer riders a more convenient way to get things done, and to provide an additional earnings opportunity for drivers as we move forward in this "new normal," Niraj Patel, director of rider operations at Uber, said in a statement.
Uber U.K. has launched a Work Hub for drivers to view a selection of temporary work opportunities with other companies as a way to supplement pandemic-hit ride-hailing earnings during the coronavirus crisis. The Work Hub sits within the Uber driver app and displays offers of work from third party providers -- including jobs that involve using a car to make deliveries -- offering alternative gigs to drivers whose earnings have been affected by weak demand for ride-hailing during the COVID-19 pandemic. The recruiter, Adecco Group, is also offering temp work via the U.K. Work Hub for drivers.
Uber riders can keep the same driver for an hour to run errands or take a family member to the doctor.
Italian magistrates have placed an Italian unit of Uber Technologies under special administration as part of an investigation into alleged exploitation of food delivery riders, three people familiar with the case said on Friday. Uber Italia said it had made its Uber Eats platform available to restaurants and couriers in full respect of the law and it condemned any form of illegal intermediation. "We participate actively in the debate around regulation which we believe will give the food delivery sector the necessary legal security to prosper in Italy," Uber Italia said in an emailed statement.
The option, which is already available in a handful of cities in Australia, Africa, Europe and the Middle East, will cost $50 per hour. Fares for regular Uber rides are generally based on the level of demand and the trip distance. Uber said it decided to expand the hourly feature to the U.S. after riders requested an option for extended trips during the pandemic to avoid exposure to different drivers and vehicles when taking multiple trips in a confined time period.
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There’s a brand-new $30 trillion investment trend that has investors across the globe giving on up old way of doing things, and focusing more on sustainable investments
Vaya Africa, a ride-hail mobility venture founded by Zimbabwean mogul Strive Masiyiwa, has launched an electric taxi service and charging network in Zimbabwe with plans to expand across the continent. The program goes live in Zimbabwe this week, as Vaya finalizes partnerships to begin on-demand electric taxi and delivery services in markets that could include Kenya, Nigeria, South Africa and Zambia.
While social media companies have been encouraged by governments to tackle misinformation and fake news on their platforms, somehow that doesn’t seem to apply if the purveyor of misinformation is the president of the United States. There is further irony and confused logic when Donald Trump complains of free speech being threatened by Twitter’s fact-checking flag against his uncensored tweets about postal ballots, and then instructs his administration to draft orders that would limit free speech protections for social media companies. In a spat between the companies themselves, Mark Zuckerberg implied in a Fox News interview on Wednesday that Twitter was being an arbiter of truth through its actions, a role that Facebook rejected.
In an internal memo announcing the most recent cut, CEO Dara Khosrowshahi confirmed that the ridesharing segment was down 80% year over year because people simply aren't traveling much during the public health crisis. One Uber exec has taken the opportunity to unload the majority of her shares. In a fresh Form 4 filing this week, Uber disclosed that communications and public policy chief Jill Hazelbaker had sold off the bulk of her holdings between May 21 and May 26.
Toro's founders started at Uber helping monitor the data quality in the company's vast data catalogs, and they wanted to put that experience to work for a more general audience. The round was co-led by Costanoa Ventures and Point72 Ventures, with help from a number of individual investors. Company co-founder and CEO Kyle Kirwan says the startup wanted to bring to data the kind of automated monitoring we have in applications performance monitoring products.
Uber is cutting 25 per cent of its workforce in India as the US ride-hailing group grapples with severe strain from the coronavirus crisis in its biggest market in Asia. It comes as the technology company rethinks its position in Asia more broadly. Uber has been hard hit by India’s harsh coronavirus lockdown, during which all public transportation including taxis and private car-hailing services were suspended for weeks.
The Estonia-based company is today announcing that it has picked up an additional €100 million ($109 million) in a convertible note. The money is coming from a single investor, Naya Capital Management, which was also a major backer of the company in its last round, a $67 million Series C in July 2019. The funding is one more example of how investors are continuing to support their most promising, and/or most capitalised, portfolio companies as they face drastic losses of business during the COVID-19 pandemic, which can only be more complicated for a startup built on a business model that -- even in the best of times -- is very capital-intensive.
Uber Technologies Inc has cut about 600 jobs in India as part of plans to reduce its global workforce by 23%, the company said on Tuesday, joining local rival Ola as the COVID-19 pandemic crushes demand for app-based cab services. Last week, Uber said it would focus on its core businesses in ride-hailing and food delivery and cut staffing globally in an attempt to become profitable despite the coronavirus pandemic. "The impact of Covid-19 and the unpredictable nature of the recovery has left Uber India SA with no choice but to reduce the size of its workforce," Uber India and South Asia President Pradeep Parameswaran said.
Uber is cutting 600 jobs in India, or 25% of its workforce in the country, it said on Tuesday as it looks to cut costs to steer through the coronavirus pandemic. The job cuts, which affect teams across customer and driver support, business development, legal, policy, marketing, and finance, are part of the company’s global restructuring that eliminated 6,700 jobs this month. The American giant, which claimed to be the top cab hailing service in India earlier this year, said it was providing 10 to 12 weeks of salary to the employees who were being let go, in addition to offering them medical insurance for the next six months.
As COVID-19 continues to transform our economic reality, two megatrends are converging to create a once in a lifetime investment opportunity
The $325bn Public Investment Fund has not been shy about its ambitions since it fell under Crown Prince Mohammed bin Salman’s stewardship five years ago — it boasts of becoming the world’s “most impactful investor” and the largest sovereign wealth fund. As the coronavirus pandemic wreaks economic carnage across the globe, PIF has stepped up a gear to become the most publicly active sovereign investment vehicle, unabashedly seeking out bargains amid the panic. It has snapped up a 5.7 per cent stake worth around $500m in Live Nation, a US-based entertainment company.
Bulb is a company that you’ve probably never thought much about, unless you happen to buy your electricity or gas through it. It did so by offering its services to households and businesses at below cost, funded by slugs of venture capital money. The venture capitalists involved weren’t afraid of start-up losses.
Uber finished the quarter with an adjusted EBITDA loss of $612 million, which is expected to be worse in the second quarter, given that shutdowns in most areas didn't begin until March. Last year, Uber had set a goal of reaching adjusted EBITDA profitability by the fourth quarter of 2020, but the company pushed that back to 2021 due to the pandemic. Despite the recent setbacks, CEO Dara Khosrowshahi and his team remain squarely focused on the bottom line.
With its core ride-hailing business plummeting amid the pandemic, Uber is eyeing meal delivery and electric scooters for growth once COVID-19 is contained.
An Uber customer on Friday asked a Manhattan federal judge to overturn an arbitration win for the company in a price-fixing case, arguing that the arbitrator only ruled in Uber's favor because he was scared. Spencer Meyer initiated the high-profile 2015 antitrust lawsuit alleging that Uber Technologies Inc <UBER.N> engaged in an illegal conspiracy with its drivers to coordinate high "surge pricing" fares during periods of heavy demand by agreeing to charge prices set by an algorithm in the Uber ride-hailing app. The lawsuit sought a nationwide ban against surge pricing.
With talks apparently continuing between Grubhub (NYSE: GRUB) and Uber Technologies (NYSE: UBER) over Uber's possible acquisition of the food delivery service, four senators sent a letter to the Department of Justice (DOJ) and the Federal Trade Commission (FTC) asking them to watch the deal carefully. The senators, all Democrats, allege the deal could damage the market's competitiveness and they want a full investigation if Uber actually agrees to buy Grubhub.