Tag Archives: uber

In the not-too-distant future, drones will crowd the skies. Quadcopters, hexacopters, octocopters, svelte fixed-wing drones that look like miniature airplanes, hulking aircraft designed to lift 500 pounds, self-piloting Boeing air taxis and DJI’s teensy Mavic Mini flying camera — they’ll all be competing for airspace. NASA Administrator Jim Bridenstine loves the idea. At the Commercial …

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 …

Can Uber be the one app to rule them all? With ambitions to bring ride-hailing, bike and scooter rental, food delivery and eventually groceries under one roof, it certainly hopes so. “We really want to be the operating system for everyday life,” said the company’s chief product officer, Manik Gupta, speaking at Web Summit in Lisbon on Tuesday. “What that …

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 …

Uber’s lawsuit to prevent the City of New York from capping the number of vehicles allowed to cruise on city streets has been dismissed. The decision, published Oct. 31 and reported earlier Friday by The Verge, was made in the Supreme Court of the State of New York, New York County. The city council first passed a law in August …

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 …

Lyft filed a lawsuit Friday against the city of New York over regulations that limit the amount of time drivers can cruise certain busy parts of Manhattan without a passenger. The ride-hailing company called for the Taxi and Limousine Commission’s “highly damaging cruising rule” to be eliminated. “Lyft supports comprehensive congestion pricing, which is the most effective way to reduce …

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 …