Lyft set to court investors ahead of Wall St float March 17, 2019 Ride-hailing platform Lyft is launch its investor roadshow today, ahead of the company’s upcoming debut on the New York Stock Exchange. The firm is seeking to raise as much as $2bn (£1.5bn) and be valued at more than $20bn, people familiar with the matter told Reuters. Lyft will be meeting with investors across the US [...]
We Work poaches Uber’s UK manager Tom Elvidge to serve as COO March 15, 2019 Uber's UK and Ireland general manager has left the ride-hailing app to join tech workspace firm We Work as its new chief operating office for Europe. Tom Elvidge is replacing current COO for Europe, Anthony Yazbeck, who will become COO of We Work International. “WeWork is a truly exciting company that's changing the way we work, live and [...]
Get Your Guide to achieve unicorn status thanks to $50m Temasek backing March 13, 2019 Online travel firm Get Your Guide is set to achieve coveted unicorn status thanks to a $300m (£228m) cash injection from a group of investors, Sky News reported. The Berlin-based travel company is said to be in advanced talks with Singaporean sovereign wealth fund Temasek Holdings over a $50m investment that will be announced in [...]
Vegan sausage rolls and a Nandos uniform: 25 weird items people left in their Uber rides March 12, 2019 A Nandos uniform, a painting of the Last Supper, a tooth and a Gregg's vegan sausage roll are just some of the items that British passengers have left behind in Uber cars in the last year. While some witty Brits simply reported leaving behind their dignity and pride in an Uber – presumably after [...]
Google paid $105m to two executives accused of sexual harassment March 12, 2019 Google paid a total of $105m (£79m) to two executives after they were accused of sexual harassment, according to court documents released last night. The lawsuit, filed by shareholder James Martin, confirms previous reports that Android creator Andy Rubin was paid $90m after he allegedly coerced sex from a colleague. Read more: Fintech superstar Marta [...]
FOMO Driving Lyft Valuation March 8, 2019 | City Talk Fear of missing out – FOMO – in financial markets is a powerful emotion. It can propel a bull market to record highs as investors watch stocks rise and want a piece of the action. It’s panic buying to a degree. And it’s just such a phenomenon that is behind investor appetite for stocks like [...]
Activist investor strikes upbeat tone as Just Eat interim boss rules himself out of the race March 6, 2019 A major Just Eat shareholder who has pressed the company to merge with a rival today welcomed the takeaway giant’s interim boss decision to rule himself out of the race for a permanent chief executive. Activist investor Cat Rock Capital Management, which owns a 1.7 per cent stake in Just Eat, said today that it appreciated Peter [...]
Uber avoids criminal liability following fatal self-driving car collision March 6, 2019 Uber has been cleared of liability by a US court after one of its self-driving cars struck and killed a pedestrian in Arizona in March. A letter from the Yavapai County attorney, made public today, said there was “no basis for criminal liability” for Uber, but that the back-up driver, Rafaela Vasquez, should be referred [...]
Automakers and the tech giants are battling over the future of the car industry March 5, 2019 More than 100 years after the petrol-powered car passed go for the first time – and despite worldwide sales at a record high in 2018 – stress fractures are starting to appear. Tesla is on track to outsell both BMW and Mercedes-Benz in the US, car sales in China are declining for the first time in [...]
Lyft files for IPO ahead of rival Uber in listing that could value it at $25bn March 1, 2019 Ride-hailing company Lyft filed its initial public offering (IPO) registration today ahead of rival Uber in the race to hit the public markets. Lyft filed with an initial offering size of $100m (£75.62m), which is usually just a placeholder amount used to calculate fees that could change. The company did not disclose the price it plans to list at [...]