New Jersey is the latest state to say Uber’s drivers should be classified as employees rather than independent contractors. The state’s Department of Labor and Workforce Development said that because of this misclassification, the ride-hailing company owes it roughly $650 million in unemployment taxes and disability insurance, according to Bloomberg Law. The Department of Labor …

Wednesday marked the first day Uber investors and employees could cash out their shares and turn their stock into real money. While many early investors said they’d hold onto their shares, others flooded the market causing Uber’s stock to hit record lows. By the end of the day, the company’s shares were trading at $26.96 — roughly 40% lower than …

Uber’s first six months as a newly minted public company haven’t been easy. It’s seen three rounds of layoffs, the departure of three board members and a share price that’s fallen more than 30%. On Monday, the ride-hailing company reported third-quarter earnings that suggest the situation might be stabilizing. For the three months ended Sept. 30, Uber posted a loss of …

Lyft’s founders remain optimistic about the ride-hailing company’s future, even though the recent past has seen its share price skid by more than 40% since going public in March. CEO Logan Green has repeatedly said the company “has never been stronger.” On Wednesday, Lyft’s third-quarter earnings backed up that confidence.  The short of the story: Lyft beat analysts’ expectations, posting …

Lyft has experienced a rough first few months on Wall Street. But the company’s co-founders still seem optimistic. Lyft CEO Logan Green said Tuesday that the company plans to reach profitability one year earlier than analysts had previously forecast. “We’ve never laid out our path for profitability and we know that’s a question on a lot of investors’ minds,” Green …

Uber announced it laid off another 350 employees on Monday from several teams across the company. This is the ride-hailing service’s third round of layoffs over the past 10 weeks and brings the total number of people cut from its payroll to 1,185. Company CEO Dara Khosrowshahi said he intends for this to be Uber’s final round of layoffs. “Days …

Uber is expanding its delivery horizons. The ride-hailing company announced Friday that it’s acquiring majority ownership in the grocery delivery startup Cornershop. The investment, which is still subject to regulatory approval, is slated to close in early 2020. “Whether it’s getting a ride, ordering food from your favorite restaurant, or soon, getting groceries delivered, we want Uber to be the …

Uber is adding a new category to its list of ride-hailing options. Along with UberX, Uber Comfort, UberPool and others, the company unveiled Uber Pet on Wednesday. The idea is to let passengers notify drivers when they’re traveling with a pet. “This new feature lets you communicate to a driver that you’ll be bringing a furried (or even scaled!) friend …

Uber is aiming to make it easier and safer for passengers to connect with the right driver. The ride-hailing company on Thursday announced several upcoming safety features, from the ability to directly text 911 emergency responders to a new technology that uses ultrasound waves for automatically verifying a ride. “We recognize that becoming an integral part of people’s lives comes …

Uber announced Thursday the first major overhaul to its rider app in three years. The ride-hailing company unveiled two possible versions of the app, both of which put more of an emphasis on its food delivery service, Uber Eats. No longer just a ride-hailing service, Uber now has bikes and scooters for rent in several cities. In other places, it’s …