Uber is pulling the brakes on its service in Morocco, which will cease on February 23, as it waits for local regulators to accommodate app-based ride-hailing. Read More
Sony Corporation said today that it will build an AI-based ride-hailing system in Japan in partnership with five taxi companies. The service will use artificial intelligence to manage taxi dispatches and forecast demand based on factors like weather, traffic and local events. Sony’s announcement came just before Uber chief executive officer Dara Khosrowshahi, who is currently visiting… Read More
When black employee resource groups from a variety of tech companies come together, black magic happens. More specifically, black excellence happens. The Coalition of Black Excellence Week, spearheaded by Uber Litigation Counsel Angela Johnson in collaboration with black ERGs from over 40 tech companies like Facebook, Google, eBay, Lyft and Microsoft, kicks off this Monday in the San Francisco… Read More
Uber is preparing to sell its Southeast Asian business to Grab in exchange for a stake in the Singaporean ridesharing company that has a big presence in that region, according to a new report from CNBC. Read More
Every city where Uber and Lyft have found a foothold has also faced impossible congestion in the city center; Felix Salmon says this is because drivers are incentivized to come to the city-center despite the traffic (because that's where the fares are) and riders are incentivized to skip public transit when there are a lot of cars around to hail with their apps.
Uber trumpeted its Q4/2017 financial statements as evidence of the company's progress towards CEO Dara Khosrowshahi's goal of profitability and IPO by 2019; the company argued that despite losing $4.5 billion in 2017, its cust-cutting in the final quarter of the year was proof that they would eventually go from losing money on each ride to actually earning money.
Welcome to “Equity,” TechCrunch’s venture capital and tech business podcast. On this week, we were joined by Mike Ghaffary from Social Capital, who was the perfect guest because he used to run Eat24, when it was Yelp’s food delivery business. Food delivery is highly relevant to this week’s news. First up, we talked about Uber, which is losing lots of money in Asia… Read More
After London sent ripple’s of shock through Silicon Valley last year, by denying Uber a renewal of its private hire vehicle license, the city’s transport regulator is doubling down on its scrutiny of the impact of app-based ride operators like Uber. Read More
Uber lost $4.5 billion last year, but CEO Dara Khosrowshahi said he’s not worried. Speaking at the Goldman Sachs Technology and Internet Conference in San Francisco on Wednesday, the newly appointed chief defended the company’s financials, saying that “we can turn the knobs to get this business even on a full basis profitable, but you would sacrifice growth and sacrifice… Read More
Fresh off a public spat between Uber investor Benchmark Capital and former Uber CEO Travis Kalanick, Benchmark general partner Bill Gurley took the stage in front of a large room of bankerfolk at the Goldman Sachs Internet and Technology Conference to talk about how startup boardrooms are now filled with a lot of cheerleaders that aren’t holding founders accountable. Read More