After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has […]
View More Uber is paying $3.1BN to pick up Middle East rival CareemCategory: Dara Khosrowshahi
In big tech’s future expansion plans, public good should be the corporate incentive
Yung Wu Contributor Yung Wu is the CEO of MaRS Discovery District, a Toronto-based innovation hub. More posts by this contributor To actually change the world, Big Tech needs to grow up The cancellation of Amazon’s planned expansion in New York exposes the truth about its HQ2 promises. In the end, the company seemed mainly […]
View More In big tech’s future expansion plans, public good should be the corporate incentiveWith SEC workers offline, the government shutdown could screw IPO-ready companies
The weeks-long government shutdown may have lasting effects on the IPO market.
View More With SEC workers offline, the government shutdown could screw IPO-ready companiesUber’s IPO may not be as eye-popping as we expected
New analysis pegs the ride-hailing giant’s initial market cap at around $90 billion, $14 billion higher than its latest private valuation and a whole $30 billion lower than early estimates from Wall Street bankers.
View More Uber’s IPO may not be as eye-popping as we expectedSaudi ally calls for Uber boycott over response to Khashoggi’s vanishing
Uber is facing calls for a boycott of its app in the Persian Gulf, a region that has poured billions of dollars of investment into the company’s ride-hailing business in recent years: Directly via Saudi Arabia’s Public Investment Fund (PIF) and indirectly because the Saudis are major investors in Softbank’s Vision Fund vehicle, which is another big Uber […]
View More Saudi ally calls for Uber boycott over response to Khashoggi’s vanishing5 takeaways on the state of AI from Disrupt SF
The promise of artificial intelligence is immense, but the roadmap to achieving those goals still remains unclear. Onstage at TechCrunch Disrupt SF, some of AI’s leading minds shared their thoughts on current competition in the market, how to ensure algorithms don’t perpetuate racism and the future of human-machine interaction. Here are five takeaways on the […]
View More 5 takeaways on the state of AI from Disrupt SFLyft unveils second annual diversity report
Lyft has released its second annual diversity report outlining the gender and racial breakdown of its 4,000-person workforce. At a glance, little has changed from last year’s report, which was the first time the $15 billion ride-hailing company disclosed its diversity stats. Forty percent of Lyft’s workforce is female, a slight decrease from last year’s 42 percent, […]
View More Lyft unveils second annual diversity reportUber to pay $148 million in data breach settlement
Uber has agreed to pay $148 million to settle a data breach that affected some 57 million customers in 2016. The agreement was with the attorneys general of all 50 states and the District of Columbia to resolve their legal inquiries on this matter, Uber’s chief legal officer Tony West said in a statement released Wednesday. The […]
View More Uber to pay $148 million in data breach settlementUber changes its disaster response playbook
Uber is taking a page out of the federal government’s disaster response handbook. The ride-hailing company is centralizing how it responds to disasters, whether it’s flooding in North Carolina, a mass shooting in Las Vegas or an earthquake in Mexico City. Now, instead of taking a local-first (and sometimes reactionary) approach, the company’s global security […]
View More Uber changes its disaster response playbookUber’s complex relationship with diversity
Since Dara Khosrowshahi came to Uber as CEO about a year ago, there has certainly been less drama, but drama remains. Over the last few months, there were reports of Uber COO Barney Harford making insensitive comments about women and racial minorities, as well as Uber’s now-former Chief People Officer Liane Hornsey making denigrating comments […]
View More Uber’s complex relationship with diversityUber is investing $150M in Toronto to expand self-driving car efforts
Months after an Uber self-driving vehicle struck and killed a pedestrian in Tempe, Arizona, the ride-hailing giant has announced it’s adding a new engineering hub in Toronto and expanding its autonomous research team as it refocuses its self-driving car efforts.
View More Uber is investing $150M in Toronto to expand self-driving car effortsUber drivers in Denmark could face fines for every ride they offered
The Danish Supreme Court has upheld large fines issued to several Uber drivers for operating without a taxi license, at a time when the ride-hailing giant was still running its non-licensed p2p driver UberPop service in the market. The decision could mean more than a thousand additional Uber drivers who sold rides in Denmark could […]
View More Uber drivers in Denmark could face fines for every ride they offered