Lyft has come a long way since its days of fist bumps and pink mustaches. After its highly anticipated initial public offering, the San Francisco-based ride-hailing company began publicly trading late Friday morning with a preopen share price set at $72. It quickly jumped roughly 20 percent to $85.91 in trading around 9 a.m. PT, …
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Uber’s subscription service is coming to more US cities. The ride-sharing company said Tuesday that it’s expanding Ride Pass, which starts at $15 and limits the cost of fares. The new locations include New York City, Dallas, San Diego, Seattle, San Antonio, Las Vegas, Phoenix, Orange County, Baltimore-Maryland, New Orleans, Nashville, Portland, Raleigh-Durham, St. Louis, Jacksonville and Memphis. When Ride …
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Uber is strengthening its reach in the Middle East. The ride-hailing giant on Tuesday said it’ll acquire its Middle East competitor Careem for $3.1 billion — Uber’s largest acquisition to date. The buyout is expected to be completed in the beginning of 2020, though it’s still subject to regulatory approval. “This is an important moment for Uber as we continue …
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Lyft is the first US ride-hailing company to be heading to the stock market. Filing with the US Securities and Exchange Commission for its initial public offering on March 1, Lyft said it plans to “revolutionize transportation” and be the “defining brand of our generation.” When the company goes public, Lyft said it plans to set its share price between $62 and …
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Uber has offered to pay $20 million to settle a lawsuit brought by its drivers, according to court documents filed late Monday night. If the judge in the case accepts the proposal, the settlement would bring to a close one of the company’s longest running court battles. It would also maintain Uber’s current classification of its drivers as independent contractors …
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Drones are useful today for real estate photos and gas pipeline inspections. They could be useful tomorrow for home security and package delivery. But in a half decade, they could well shuttle you to work over the heads of drivers stuck in traffic. That’s what Anil Nanduri, general manager of Intel’s drone group, expects. Drone innovation combined with people paying …
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Prosecutors determined Tuesday that Uber won’t be held criminally liable for the death of a pedestrian in Arizona last March. One of the ride-hailing company’s autonomous vehicles struck Elaine Herzberg, 49, who later died from her injuries. “After a very thorough review of all the evidence presented, this Office has determined that there is no basis for criminal liability for …
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Lyft, the popular ride-hailing company, said it plans to pay drivers a bonus and that they could use the cash to buy shares in its IPO. Lyft filed paperwork with the Securities and Exchange Commission on Friday to list its shares on the NASDAQ stock exchange, an IPO that could come as early as next month. The San Francisco-based company reportedly …
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If you’re not in a hurry, Lyft offers you a way to save money on shared rides. The ride-hailing giant on Wednesday rolled out a new feature called Shared Saver, which will lock you in the lowest prices for shared rides even when it’s busy, according to a Lyft blog post. It works in similar ways as another ride-sharing app, …
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It’s inevitable. There are going to be a lot of disappointed people after Super Bowl 2019. Only one team can win after all. But Uber is looking to provide a little comfort to hometown fans of the losing side. On Tuesday, Uber said that it’ll offer free rides (or up to $50 off) for an hour after the game to …
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