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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.
Ads on Ola, Uber cabs likely to be cheaper in Delhi soon
Wed, Dec 26, 2018
Under the new policy, ad rates will be decided on cabs numbering over 400-500 cars at one go, and it would be cheaper in comparison to common rates, the report said citing official sources.
Fighting Fraud: SMEs are you hacked? This is how you can reduce the risk of fraud in the business
Thu, Dec 13, 2018
Oftentimes, the easy-going or laissez faire approach adopted by small businesses is a factor in their falling victim to opportunistic hackers.
Defunct startup Sidecar sues Uber: ''hell-bent on stifling competition''
Wed, Dec 12, 2018
Defunct startup Sidecar Technologies Inc, which pioneered on-demand ride-hailing, is suing Uber Technologies Inc, alleging it engaged in predatory pricing and anticompetitive practices that ultimately put Sidecar out of business.
Mumbai Ola-Uber strike update: Mumbaikars, be ready to shuffle your plans; Cabs to remain off road again
Sat, Nov 17, 2018
Mumbai Ola-Uber strike update: The drivers of Ola and Uber have now decided to again go on a strike from today evening as the demands which were addressed by them are not solved.
Uber remains committed to investing in high-potential markets even as losses rise
Fri, Nov 16, 2018
"We had another strong quarter for a business of our size and global scope. As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East where we continue to solidify our leadership position," Uber CFO Nelson Chai said.
Uber cab drivers salaries set to shoot up by Rs 2,200
Thu, Nov 15, 2018
Leading cab aggregator Uber India Thursday claimed that its fuel price-linked fare mechanism will increase gross earnings of its drivers by Re 1 per km, which on a monthly basis will lead to a net additional earning of up to Rs 2,200 for an 8-hours driving.