SoftBank's India portfolio has fared well despite Covid-19: Rajeev Misra
Rajeev Misra, who also serves on the board of SoftBank Group Corp, said the central government’s move to put curbs on capital emanating from China would ultimately be replaced, but it would be difficult to replicate the technological know-how Chinese strategic investors bring to local companies.
Seattle approves minimum pay standard for Uber and Lyft drivers
Under the ordinance, effective January, the drivers will now earn at least $1...
Tinder's CPO Brian Norgard, OLX founder Fabrice Grinda invest in Chingari
Grinda has more than 200 investments in several big firms including...
It’s a ballot fight for survival for gig companies like Uber in the US
California's Proposition 22 would exempt the companies from complying with a law that went into effect at the beginning of the year, while offering limited benefits to drivers. The law is intended to force them to treat gig workers as employees, but Uber and its peers have resisted, fearing that the cost of benefits like unemployment insurance and health care could tip them into a downward financial spiral.
It is a ballot fight for survival for gig companies like Uber, DoorDash
Top executives of Uber, Lyft and the delivery service DoorDash met to discuss a California ballot measure that would exempt them from a new state labor law and save their companies hundreds of millions of dollars.
California sues Uber, Lyft over misclassifying drivers as contractors
Uber in a statement said it will contest the action in court, while pushing for the implementation of its own proposal for additional driver benefits.
Uber investors are pressuring CEO to revamp the self-driving division
When Khosrowshahi assumed Uber’s helm from ousted founder Travis Kalanick in 2017, he inherited a mess of cultural, strategic and financial problems.
Uber’s job cuts, office closures reflect narrower ambitions
Uber, which for years burned cash in exchange for user growth, had also faced challenges even before coronavirus hit. Its food delivery operations, a bright spot in terms of adoption, loses money, and other bets like autonomous vehicles and air taxis have yet to be proven.
Uber cuts 3,000 jobs as virus slashes payroll by 25%
The ride-hailing giant will be closing or consolidating 45 offices globally, and almost all departments will be affected by layoffs. The company is closing its Incubator and AI Labs and will pursue strategic alternatives for its job recruiting app, Uber Works, Khosrowshahi said.
Lyft buys digital car-top advertising startup Halo Cars
Halo Cars was founded in 2018 and has operations in U.S. markets such as New York and Chicago.
VCs are gearing up for a post-pandemic auto industry
Autotech is trying to pandemic-proof its portfolio as it prepares to deploy $150 million in a funding round announced this week.
Uber loses $2.9 billion, offloads bike and scooter business
Earlier this week, Uber said it was cutting 3,700 full-time workers, or about 14 per cent of its workforce, as people avoiding contagion either stay indoors or try to limit contact with others.
Uber, posting first-ever decline in rides, says worst is over
During the past week, Uber has embarked on a blitz of cost-trimming moves. Uber said it will end food delivery operations in more than a half-dozen countries and that its Middle East unit Careem will terminate 31% of employees.
Uber is reducing workforce by 14% and signals more cuts to come
Uber instituted a hiring freeze in March, withdrew its financial forecast and wrote down some $2 billion worth of investments in April and said Monday it would shutter food delivery operations in seven countries.
Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Uber and rival Lyft have already withdrawn their full-year financial outlooks as demand for app-based rides dropped sharply across the world after governments imposed stay-at-home orders to curb the transmission of the coronavirus.