Uber Raises Market Optimism After Upgrading Guidance
(CNBC) Uber shares rose by about 6% in premarket trading after raising its expected gross bookings to between $22.8 billion and $23.2 billion for the third quarter. The bookings were…
Food Delivery Firms That Include Uber Move to Court to Protest NYC Cap Fees
(WSJ) Uber Technologies, DoorDash Inc., and Grubhub Inc. have filed a lawsuit in a New York federal court to protest a fee cap by the city authorities. The food-delivery firms…
Uber Acquires HKTaxi App to Enter the Hong Kong Cab Market
(SCMP) US ride hailing giant Uber has bought Hong Kong’s most popular cab app HKTaxi as it pushes to gain traction in the local market. With access by at least…
Uber Reaches a Deal to Acquire TPG’s Transplace for $2.25 Billion
(Uber) Uber Freight has agreed to acquire Transplace for about $2.25 billion. The deal consists of $750 million common stock of Uber Freight’s parent company. The acquisition, which is still…
Uber and Lyft Partners with Washington to Offer Free Rides to Covid Vaccine Sites
Ride-hailing Uber and Lyft have agreed with White House to offer free rides to Covid vaccination sites up to July 4, according to the Wall Street Journal. The partnership is…
Uber Posts a Record Gross Bookings of $19.5B Amid Lower Demand for Ride Service
Uber reported that its gross bookings rose 24% year over year in the first quarter to a record $19.5 billion, according to the company’s press release. Sustained expansion in the…
Uber will Consider Venturing into Cannabis Delivery-CEO
Uber CEO Dara Khosrowshahi expects the company to start delivering cannabis once federal regulation allows it to do so, according to CNBC. The CEO sees an opportunity in cannabis delivery,…
U.K. Supreme Court Ruling Entitles Uber Drivers to Workers’ Rights
Britain’s Supreme Court ruled on Friday that a group of Uber drivers are entitled to workers’ rights such as minimum wage, according to Reuters. The ruling is a blow to…
Uber Calls the EU to Introduce a Framework for Gig Economy
Uber has asked the European Union to implement reforms that protect drivers and couriers operating through an app, according to CNBC. The reforms could include new laws similar to proposition…
Postmates Synergy with Uber strengthens as Q2 Revenue Doubles Ahead of Merger
Postmates’ revenue for the quarter ended June 30 was 160 million, up from $ 71.39 million in the same period last year, according to SEC. UBER filed form S-4 on…