Tech startups remain private for longer leading to high valuation IPO pipeline February 26, 2019 Technology startup companies are choosing to remain private for longer due to the availability of capital from private equity and venture capital investors, creating a pipeline of high-value listings expected this year. The median age of venture capital backed technology companies at the time of IPO has risen from 10.9 years in 2018 from 7.9 [...]
High Court strikes down black cab appeal against Uber’s London licence February 26, 2019 The High Court rejected an appeal to block Uber's 15-month London licence today, dismissing claims that the decision to grant it was biased. Taxi drivers of the United Cabbies Group (UCG) argued that chief magistrate Emma Arbuthnot's decision to grant Uber a licence to operate in London was affected by her husband's relationship with the company. Read more: [...]
Backlog of employment tribunal cases balloons 77 per cent February 24, 2019 The backlog of cases at employment tribunals has risen 77 per cent in a year after the number of cases rocketed following the scrapping of fees in July 2017. In the three months ended September 2018 outstanding cases hit 23,700, up from 13,360 in the same period in 2017. There were 36,900 single claims in the year to [...]
Daimler, BMW to launch Uber rival as Lyft races toward IPO February 22, 2019 | City Talk The conversation around ride-hailing has this year centred on Lyft and Uber – the two tech unicorns racing to list on the US stock market. However, in the penultimate week before Lyft makes its IPO filing public, German carmakers Daimler and BMW have announced that they are set to enter the market as well, with [...]
Picture perfect: Pinterest confidentially files for IPO in the latest up and coming tech float February 22, 2019 Pinterest has reportedly filed for an initial public offering (IPO), as Silicon Valley gears up for a busy year of tech startup listings. The online image search platform, known for the food and fashion photos its users post, is planning for a late-June listing and is seeking a valuation of at least $12bn, it is reported. Read [...]
Uber Eats cuts app fees to compete with food delivery rivals Just Eat and Deliveroo February 21, 2019 Uber is to cut the fees it charges to restaurants that use its food delivery app in a bid to out-compete rivals such as Just Eat and Deliveroo. Uber Eats will reduce the commission it charges to restaurants that use its app from 35 per cent to 30 per cent, which it says makes it the most competitive delivery [...]
Just Eat faces pressure as Cat Rock says investors back calls for merger February 20, 2019 Activist investor Cat Rock Capital said today that it has the backing of fellow shareholders after calling for Just Eat to merge, in a fresh headache for the takeaway ordering website. US-based Cat Rock, which owns a 1.7 per cent stake in Just Eat, said that it had the support of investors after hitting out [...]
Nearly half of commuters think air taxis would solve transport problems in cities February 19, 2019 The public is turning more to the idea of air taxis to help alleviate congestion and air pollution on Britain's roads, new research reveals. Research carried out by aviation events organisation Revolution.Aero found that 43 per cent of those surveyed would support the introduction of air taxis to reduce transport problems in UK cities. Read more: [...]
Lyft to pitch fast growth to investors as IPO race with Uber intensifies February 15, 2019 Lyft is set to pitch its fast growth in the US to investors as it seeks to beat out rivals Uber to become the first publicly listed ride-hailing company. It will tell investors its share of the US market is close to 40 per cent, a five per cent increase on a year earlier, having [...]
Revolut’s Valentine’s Day advert caused a social media storm – and shows the pitfalls of using comedy in marketing February 11, 2019 Roses are red, violets are blue, there’s a company in hot water and it’s called Revolut. The fintech challenger bank, which offers a mobile-based banking service, recently launched a new ad campaign of Tube posters that joked about the spending habits of its customers. One of the four adverts read: “To the 11,867 people who [...]