Uber to spend $50m on safety kit as it tells drivers and passengers to wear masks May 13, 2020 Uber has set aside $50m (£41m) to buy personal protective equipment for drivers as it introduces new rules requiring all users to wear face masks. Chief executive Dara Khosrowshahi today told reporters that the ride-hailing app will roll out a string of new safety measures as it looks to address concerns about the Covid-19 pandemic. [...]
Uber leads $170m investment round in scooter startup Lime May 7, 2020 Bike and scooter-sharing startup Lime today said it has secured a $170m (£138m) in a fresh funding round led by Uber. Google owner Alphabet, its investment arm GV and Bain Capital are also among the backers taking part in the investment round, the company said. As part of the cash injection, Lime will take control [...]
Uber to cut 3,700 employees as ride-hailing demand slumps due to coronavirus May 6, 2020 Uber will cut 3,700 employees and its chief executive will forgo his salary for the rest of the year as demand for ride-hailing services collapses due to the coronavirus outbreak. The company said the job losses will include roles in its customer support and recruitment teams, with $20m in costs expected to be incurred as [...]
Uber abandons 2020 guidance amid Covid-19 lockdown April 17, 2020 Uber has withdrawn its 2020 financial guidance and plans to write down around $2bn in investments amid the Covid-19 lockdown. The ride-hailing firm had expected to book adjusted net revenue of up to $17bn and an adjusted loss of between $1.45bn and $1.25bn. But Uber yesterday said Covid-19 made it “impossible” to predict future financial [...]
Uber to provide free journeys and meals for NHS staff March 30, 2020 Uber has committed to providing 200,000 trips and 100,000 meals to NHS workers on the frontline of the coronavirus crisis. Free rides up to the value of £15, as well as £10 Uber Eats vouchers, will be given to anyone with an NHS email address, which includes many of the 300,000 nurses in the UK. [...]
Hola, Ola: Meet the latest app to fight for Uber’s London crown February 10, 2020 Transport for London’s (TfL) decision not to renew Uber’s operating licence late last year split commuters down the middle, but the controversial ride-hailing app’s rivals have seized the opportunity to stake their claim to the capital. Uber’s effective ban came over concerns it had not done enough to protect Londoners after TfL identified a “pattern [...]
Uber sells Indian food delivery business to Zomato January 21, 2020 Uber today said it has sold its food delivery business in India to local rival Zomato in an all-share deal worth a reported $350m (£268m). The deal gives Uber a 10 per cent stake in Zomato, which is backed by Ant Financial, a fintech affiliate of Chinese conglomerate Alibaba. The companies did not disclose the [...]
Travis Kalanick to leave Uber’s board in December December 24, 2019 Travis Kalanick has resigned from the board of Uber, the ride-hailing service that he founded and helped make a global phenomenon. In a statement, Uber said that the entrepreneur would step down on 31 December to concentrate on other business endeavours. Read more: Uber co-founder takes stock sale to over $700m In a statement, Kalanick [...]
Uber banned in Germany as bumpy ride continues into 2020 December 19, 2019 A German court banned Uber from operating its ride-hailing services in Germany today for lacking the licence necessary to offer transport services using rental cars. Uber is active in seven German cities and works exclusively with car rental companies and their drivers. It can appeal to a higher court and will continue to drive in [...]
Uber in talks to sell Indian food delivery business to Zomato in $400m deal December 16, 2019 Uber is said to be in talks to sell its Indian food delivery business to local rival Zomato in a deal worth roughly $400m (£299m). The ride-hailing giant is looking to offload Uber Eats in India to Zomato as part of its plan to reach profitability by 2021, according to several media reports. Read more: [...]