Is Uber the new Amazon? April 2, 2019 By Edmond Jackson from interactive investor. In a test of narrative power versus whopping financial losses, so-called “ride-hailing” or “ridesharing” giants Uber and Lyft have rivalled each other to list on the New York Stock Exchange – Lyft got there first. Both capture the spirit of the times, connecting taxi drivers to passengers via their [...]
Lyft shares drop below opening price on second day of trading April 1, 2019 Shares in ride-hailing app Lyft dropped below their opening price today in the first sign of jitters over the company’s hefty $24bn (£18bn) valuation. The tech firm’s share price dropped as much as 11 per cent to $69.40 – below the initial public offering (IPO) price of $72 – before clawing back some ground. Read [...]
Lyft IPO sets wheels in motion for Uber, Pinterest and Slack floats in coming months March 31, 2019 The runaway success of ride hailing app Lyft’s initial public offering (IPO) last Friday has paved the way for a long queue of tech firms all hoping to emulate its market debut in the coming months. On Lyft’s first day of trading its value soared 8.7 per cent, from an initial valuation of $72 (£55.20) [...]
Lyft valued at $24bn as it prices shares at $72 ahead of New York float March 28, 2019 Ride-hailing app Lyft has priced its initial public offering (IPO) at $72 per share ahead of its float on the Nasdaq tomorrow, giving it a valuation of more than $24bn (£18.4bn). The pricing is at the top end of the firm’s target range, which Lyft increased earlier this week in a sign of strong investor [...]
Daimler and Chinese firm Geely team up to manufacture Smart compact city cars March 28, 2019 Daimler is to produce its next wave of Smart model electric cars in China via a joint venture with Chinese car manufacturing giant Geely. Geely took a stake of nearly 10 per cent in the German car maker last year, saying it wanted to create an alliance to make electric and autonomous vehicles (EVs and [...]
Ex-Uber boss Travis Kalanick’s new venture snaps up UK ‘dark kitchens’ business March 26, 2019 The food delivery company run by Travis Kalanick snapped up London ‘dark kitchens’ firm Foodstars last year, as the former Uber boss looks to expand his new venture in the UK. City Storage Systems, which trades as Cloud Kitchens in the US, quietly bought the startup up last year, according to documents filed to Companies House. [...]
Michelle Obama’s Becoming memoir sells 10m copies March 26, 2019 Former first lady Michelle Obama's memoir has sold 10m copies after just five months on shop shelves, helping push revenues at her publisher to its highest in more than a decade. Read more: Uber cars stock children's books in drive to boost bedtime reading German media giant Bertelsmann has a 75 per cent stake in Penguin Random [...]
Pinterest reveals revenue growth in first public filing as it heads toward IPO March 23, 2019 Pinterest has announced its plans for an initial public offering (IPO) and highlighted its fast revenue growth and shrinking losses as it heads towards a public listing. The image sharing platform joins a whole line of technology companies looking to move into the public market and outlined its plans to the New York Stock Exchange [...]
Global markets fall as FTSE 100 suffers worst day of the year March 23, 2019 Stock markets in the UK and US have plummeted amid growing fears of an economic slowdown. The FSTE 100 suffered its worst day of 2019 as it ended Friday 2 per cent lower, falling 148 points and wiping off around £37bn in the companies combined value. Read more: Countdown to Brexit: three market indicators to watch [...]
Uber ‘picks New York Stock Exchange’ for IPO over FAANG favourite Nasdaq March 22, 2019 Uber is reportedly set to list on the New York Stock Exchange as it gears up for what is expected to be one of the biggest stock market debuts of 2019. Read more: High Court strikes down black cab appeal against Uber's London licence The ride-hailing app’s initial public offering (IPO) is due in April, [...]