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Uber to price blockbuster IPO against grim market backdrop
Thu, May 09, 2019
Uber Technologies Inc will price its initial public offering on Thursday, the most high-profile U.S. listing since Facebook Inc seven years ago, against a backdrop of turbulent financial markets and the plunging share price of its U.S. rival Lyft Inc.
Ahead of Uber IPO, ride-hailing drivers in New York to go on strike
Sat, May 04, 2019
Uber Technologies Inc`s drivers in New York will go on strike next week shortly before the ride-hailing company goes public to protest what they view as unfair employment conditions, a taxi union said on Friday.
Uber drivers plan protest over pay ahead of IPO
Tue, Apr 30, 2019
Uber Technologies Inc`s drivers in six U.S. cities are planning to shut their apps for 12 hours on May 8 to protest against low wages and working conditions, two days ahead of the company`s expected market debut.
Uber unveils IPO terms fall short of investors' expectations
Sat, Apr 27, 2019
Uber Technologies Inc, the world`s largest ride-hailing company, plans an initial public offering that values the company lower than the startup`s insiders had hoped, between $80.5 billion and $91.5 billion.
Uber Technologies to kick off investor road show with IPO terms on Friday
Fri, Apr 26, 2019
Uber`s moderation of valuation expectations reflects the poor stock performance of its smaller rival Lyft Inc following its IPO last month.
Uber allows Saudi women drivers to choose female passengers
Thu, Apr 18, 2019
After running a pilot program to understand the preference of women drivers in Saudi Arabia, Uber has officially introduced a feature to let the drivers decide the riders. Uber announced the introduction of its 'Passenger Preference' feature in Saudi Arabia for the female drivers.
Factbox: How Uber and Lyft compare on key financial metrics
Fri, Apr 12, 2019
Both Uber and Lyft lose money though Uber has trimmed its losses in recent years. Uber`s adjusted loss before interest, taxes, depreciation and amortization was just over $1.8 billion in 2018 compared to $2.6 billion in 2017.
Uber plans to sell around $10 billion worth of stock in IPO
Wed, Apr 10, 2019
Uber is showing a realism that is being increasingly adopted by Silicon Valley unicorns, as stock market investors push back against some of the lofty price tags sought.
Uber buys rival Careem in $3.1 billion deal
Tue, Mar 26, 2019
The acquisition makes Careem a wholly owned subsidiary of Uber and will keep the Careem brand and app intact, at least initially. Careem co-founders Mudassir Sheikha, Magnus Olsson and Abdulla Elyas are staying on with Careem following the acquisition, the companies said.
Ola ban in Karnataka: State govt open for talks
Sat, Mar 23, 2019
Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share.
SoftBank, others in talks to invest $1 billion in Uber''s self-driving unit: Sources
Thu, Mar 14, 2019
SoftBank Vision Fund is the largest shareholder in Uber with a 15 percent stake.
Uber hires more IPO underwriters as it prepares to go public, say sources
Wed, Mar 13, 2019
Ride-hailing startup Uber Technologies Inc has hired a string of investment banks to its syndicate of initial public offering underwriters, as it ramps up preparations for a stock market debut, people familiar with the matter said on Tuesday.
Ola, Uber rival? Mahindra enters taxi service with this electric car
Wed, Feb 27, 2019
Mahindra and Mahindra aims to make electric vehicles commercially viable.
Uber commuters alert! Cab aggregator gets this WhatsApp like feature: Check how to use it
Wed, Feb 13, 2019
One the leading cab aggregators in India, as well as the world, Uber has introduced a new feature to improve the experience of its users.
Ola losses narrow to Rs 2,842 cr for FY18; revenue zooms 61%
Fri, Feb 01, 2019
According to the documents filed with the Corporate Affairs Ministry, Ola narrowed its standalone losses significantly to Rs 2,676.7 crore, while revenues were up 44.6 per cent to Rs 1,860.6 crore in FY2018 compared to the previous financial year.
Uber to start speedboat services in Mumbai from February 1
Wed, Jan 30, 2019
Hoping to tap waterways transportation in the country`s commercial capital, Maharashtra Maritime Board (MMB) has partnered with Uber to launch UberBOAT from February 1, a senior Uber official said here on Wednesday.
Uber starts pilot speedboat service in Mumbai
Wed, Jan 30, 2019
Ride-hailing app company Uber just launched UberBOAT, a speedboat service between Mumbai’s Gateway of India, Mandwa and Elephanta Caves. The service will kick off on Friday, 1 February and can be booked through the Uber app.
Uber aims to ramp up driver onboarding in India with new 'Fleet' app
Thu, Jan 24, 2019
"There is an opportunity for people, who didn't approach us as they didn't own a vehicle, to now come onboard as a partner. We expect this (number) to be significant," he said.
Uber India revenue zooms to Rs 21.5 cr in FY18
Thu, Jan 03, 2019
The company, which competes with rival Ola in India and other international markets, had posted a total revenue of Rs 1.04 crore in 2016-17.
Uber, Ola to solve your Delhi Metro problems; here is how you will benefit
Thu, Dec 27, 2018
A pilot service on booking cars through two major cab aggregators at Delhi Metro stations was launched Wednesday, seeking to further boost last-mile connectivity for commuters.