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: [...]
Uber launches appeal over TfL London ban December 13, 2019 Uber has today submitted an appeal against Transport for London’s (TfL) decision to ban the ride-hailing app from operating in the capital. TfL last month stripped Uber of its licence, stating that a “pattern of failures” left passengers at risk. Read more: Uber says it received 6,000 reports of sexual assault over two-year period The [...]
Uber says it received 6,000 reports of sexual assault over two-year period in United States December 6, 2019 Uber has revealed it received almost 6,000 reports of sexual assault in the United States in 2017 and 2018. It said that although there had been more cases in 2018, the incidence had dropped by 16 per cent due to there being more trips undertaken. The ride-hailing firm has come under increased scrutiny of late [...]
Food delivery apps serve up extra £400m in restaurant revenue December 2, 2019 Food delivery apps such as Deliveroo, Just Eat and Uber Eats are serving up an extra £400m in revenue for European restaurants, according to a new report. Third-party platforms, that customers can use to order food from a variety of restaurants, have also increased profit across the Europe’s restaurant sector, with venues in London seeing [...]
Uber eyes Square Mile move despite London licence ban December 1, 2019 Uber is eyeing offices space in the Square Mile as it looks to expand in the capital despite Transport for London’s decision last week to not renew its licence. The ride-hailing app is reportedly looking for a bigger European headquarters after the lease on its Aldgate office expires, and is mulling options at 60 London [...]
Uber shares slip after London licence loss November 25, 2019 Uber’s share price has slipped after falling close to a record-low in pre-market trading in response to the app’s loss of its London licence. Shares in the New York-listed company were down three per cent to $28.66 in pre-market trading, wiping almost $2bn off Uber’s market cap. However, shares trimmed losses to stand 1.4 per [...]
Uber co-founder Travis Kalanick takes stock sale to over $700m November 14, 2019 Just days after disposing more than a fifth of his stake in ride-hailing app Uber, ousted chief executive Travis Kalanick has sold a further 6.1m shares in the company he helped found. According to a company filing submitted yesterday, the entrepreneur sold an additional $164m (£127.6m) of stock, taking the total disposed of this month [...]
Uber launches new safety measures in bid to secure a London licence November 14, 2019 Uber passengers will now be able to report discrimination immediately as a part of the app’s push to quell fears about safety and secure a long-term London licence later this month. The ride-hailing app was given a two-month licence extension by Transport for London (TfL) in September. TfL said it needed to see more evidence [...]
Uber co-founder Travis Kalanick offloads $550m in shares November 11, 2019 Uber’s ousted co-founder and chief executive Travis Kalanick has sold nearly 21 per cent of his stake in the ride-hailing app since restrictions on trading expired last week. Read more: Uber shares hit record low after IPO lock-up expiry In a series of transactions, Kalanick sold more than 20m shares worth roughly $547m (£425m), according [...]
Uber shares hit record low as early investors prepare for chance to sell off November 5, 2019 Ride hailing firm Uber’s shares hit a record low today, as shareholders geared up for the expiry of its Initial Public Offering (IPO) lock-up, when early investors will be allowed to sell their stocks. Uber’s share price fell to lows of $27.97, more than nine per cent down, eventually closing at $28.02. Read more: Will Uber’s [...]