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 [...]
Uber hopes to turn a profit in 2021, as ride hailing firm makes heavy third quarter loss November 4, 2019 Ride hailing giant Uber hopes to be profitable by 2021, its chief executive has said, as the company booked a more than $1bn loss in its third quarter earnings. Uber beat Wall Street estimates for revenue over the period, as the number of people using its ride-hailing and food delivery service increased. However, it still [...]
DEBATE: Will Uber’s move into banking succeed or fail? November 4, 2019 Can Uber graduate from taxi rank to taxi bank after announcing its move into financial services? YES, says Andrew Mitchell, vice president at JCB. Uber’s drivers are its bedrock. And growing driver service and revenue options without earth-shattering outlays is shrewd indeed. As such, Uber Money is a logical step to maximise its digital-lifestyle standing [...]
Revealed: TfL tightened Uber’s driver checks in London licence extension October 30, 2019 Uber’s licensing restrictions have been revealed to include stringent checks on drivers’ documentation and insurance, prompting claims the ride-hailing app has in the past harboured unlicensed drivers. Restrictions were placed on Uber by Transport for London (TfL) in September as a part of a two-month licence extension in September. Read more: Uber suffers blow as [...]
Uber challenger Bolt launches XL vehicle category in London October 14, 2019 Ride-hailing app Bolt is launching a new XL category of vehicles – with space for up to six passengers – in London today, in a bid to compete with rival Uber in its biggest European market. Bolt, which launched in London in June, is hoping its expanded offering, coupled with its comparatively low prices, will [...]