London investor in Peloton and Goop raises third fund at $300m January 15, 2020 Venture capital firm Felix Capital has today revealed its third fund at $300m (£230.3m), targeting startups at both early and growth stages across London and beyond. The firm has previously invested in the likes of Deliveroo, Peloton and Mejuri, as well as Gwyneth Paltrow’s lifestyle brand Goop. The new fund is double that of its [...]
The number of floats in London dropped to a decade-low last year January 15, 2020 Geopolitical uncertainty contributed to a subdued initial public offering (IPO) market in London last year, as listings fell 56 per cent year-on-year. In what was the capital’s quietest year for a decade, just 35 companies floated raising £5.9bn, down from 79 listings raising £9.5bn in 2018. The number of admissions to London’s junior Aim market [...]
With its foray into facial recognition, Uber is normalising mass surveillance January 13, 2020 The news late last year that Uber plans to introduce facial recognition technology seems to have mostly escaped the notice of the public, buried as the story was beneath five or six paragraphs in most of the reports on the loss of the firm’s London licence. Or perhaps, as one depressing Wall Street Journal headline [...]
The best (and weirdest) new gadgets from CES 2020 January 9, 2020 As difficult as it is to believe, 2019 has actually ended, slinking out of time’s backdoor like a scolded cat and into the history books under a chapter titled ‘Bloopers and Outtakes’. Of course, the annual changing of the calendar guards heralds many things – reflection, resolution, vegan steak bakes – but it’s also a [...]
How will losing its London licence affect Uber? January 8, 2020 Uber does not appear to have the controls necessary to run a wide-scale transport service and assure passengers and authorities of adequate safety standards. Despite London being one of the company’s top five markets in the world by revenue, the company has shown a marked reluctance to fully co-operate with transport authorities. Time and again, [...]
Sadiq Khan promises free travel for disabled people’s carers January 2, 2020 London’s public transport system will be free for anyone accompanying a disabled passenger if Sadiq Khan is re-elected. The Labour mayor of London has pledged to create a “companion pass” if he wins the May election, which would provide free travel on all Transport for London (TfL) services for carers of disabled people. Read more: [...]
Amazon’s Deliveroo investment could cause higher prices, says CMA December 27, 2019 Amazon and Deliveroo are the subject of an in-depth probe by competition authorities into the e-commerce giant’s investment in the food delivery firm. Neither company offered undertakings in response to concerns aired by the Competition and Markets Authority (CMA). Read more: CMA puts brakes on Amazon’s Deliveroo investment The CMA said earlier this month that [...]
Travis Kalanick to leave Uber’s board in December December 24, 2019 Travis Kalanick has resigned from the board of Uber, the ride-hailing service that he founded and helped make a global phenomenon. In a statement, Uber said that the entrepreneur would step down on 31 December to concentrate on other business endeavours. Read more: Uber co-founder takes stock sale to over $700m In a statement, Kalanick [...]
Uber banned in Germany as bumpy ride continues into 2020 December 19, 2019 A German court banned Uber from operating its ride-hailing services in Germany today for lacking the licence necessary to offer transport services using rental cars. Uber is active in seven German cities and works exclusively with car rental companies and their drivers. It can appeal to a higher court and will continue to drive in [...]
Airbnb wins European court battle to dodge property rules ahead of public listing December 19, 2019 Airbnb received another boost today ahead of its public listing next year as Europe’s top court ruled that it is an online platform not an estate agent. The decision by the European court of justice will allow the company to dodge regulations faced by property brokers as it continues to expand. The company, which announced [...]