Search Results for: Uber

Uber CEO says there will be no more global exit deals

Dianne Jacobs

Uber has exited three global markets by selling to rivals, but enough is enough after its deal with Grab so says CEO Dara Khosrowshahi. Following today’s announcement with Grab which sees Uber leave Southeast Asia hot on the heels of exits in China (2016) and Russia (2017), Khosrowshahi told employees that there will be no more repeats under his leadership. It is fair to ask whether consolidation is now the strategy of the day, given this is the third deal of its kind, from China to Russia and now Southeast Asia. The…

Uber used undercover agents, court letter says

Dianne Jacobs

It is critical evidence in Uber’s legal battle with Waymo, the self-driving car company that accuses the ride-sharing firm of stealing its technology. The letter, sent by lawyers representing a former Uber employee, sparked an internal investigation when it was sent to Uber in May, but has not been made public until now. In a statement, Uber said: “While we haven’t substantiated all the claims in this letter – and, importantly, any related to Waymo – our new leadership has made clear that going forward we will compete honestly and…

Uber Paid Hackers to Delete Stolen Data on 57 Million People

Dianne Jacobs

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies Inc., a massive breach that the company concealed for more than a year. This week, the ride-hailing firm ousted its chief security officer and one of his deputies for their roles in keeping the hack under wraps, which included a $100,000 payment to the attackers. Compromised data from the October 2016 attack included names, email addresses and phone numbers of 50 million Uber riders around the world, the company told Bloomberg on Tuesday. The personal information…

Uber confirms SoftBank has agreed to invest billions

Dianne Jacobs

The long-anticipated SoftBank Group investment into Uber has been agreed upon, confirms a spokesperson. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment. We believe this agreement is a strong vote of confidence in Uber’s long-term potential. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.” Uber has not yet elaborated on plans, but we’ve been told that it includes a $1 billion investment in the company at the…

Travis Kalanick Resigns As Uber’s CEO

Dianne Jacobs
Uber London

Travis Kalanick , one of the founder of Uber, the popular ride-hailing service has stepped down Tuesday as chief executive. Kalanick helped start the ride hailing service in 2009 and built it into a transportation colossus. He has now stepped down after a shareholder revolt made it untenable for him to stay on at the company. The exit came under pressure after hours of drama involving Uber’s investors, according to two people with knowledge of the situation, who asked to remain anonymous because the details were confidential. The company has…

Only 4% of Uber drivers remain on the platform a year later

Dianne Jacobs

Uber’s accelerating driver drop off rate is partially due to increased competition from companies like Lyft. But the number one complaint among Uber drivers is the pay, according to undisclosed data seen by The Information. Many Uber drivers have complained about unfair compensation for long trips, and not being able to accept tips. A spokesman’s reports that they recognize we need to improve our relationship with drivers and their experience using Uber. The ride hailing firm firm is working on a range of improvements across our products, our policies, our customer support and…

Uber Rival Grab Said Raising $1.5 Billion in New Funding Round

Grab, Uber Technologies Inc.’s largest rival in Southeast Asia, plans to raise more than $1.5 billion in a new funding round backed by SoftBank Group Corp., people familiar with the matter said. SoftBank is pledging about $1 billion in the ride-sharing company backed by Tiger Global Management and GGV Capital, the people said, asking not to be named because the matter is private. It wasn’t clear if the money was coming from the Japanese company itself or its yet-to-close SoftBank Vision Fund. Grab’s financing could be a record for Southeast…

Uber ’s self-driving cars are now picking up passengers in Arizona

Editor
Uber

Almost two months to the day after the Uber loaded its fleet of self-driving SUVs into the trailer of a self-driving truck and stormed off to Arizona in a self-driving huff, the company is preparing to launch its second experiment in autonomous ride-hailing reports The Verge. The ride shairing platform rolled out its pilot self-driving car program first in Pittsburgh, Pennsylvania and then in San Francisco mid-December with 16 self-driving vehicles but ran into issues with the state of California when the California DMV insisted Uber cars needed to get…

Uber ordered to stop service in Argentina

Uber

A judge in Buenos Aires, Argentina, has ordered Uber to be blocked. The ride-hailing company however told CNNTech that the app continues to operate normally and an appeals court will consider a nationwide ban. The ride-hailing company was told to stop business in Buenos Aires in April. Local credit card and telecommunications companies were ordered to block Uber but the ride-sharing service continued to operate in the city. Taxi drivers in Argentina have been vocal opponents of the app-based car service, and a local taxi labor organization filed a lawsuit…

Uber self-driving cars hit the streets of San Francisco

Dianne Jacobs

Taxi-hailing service Uber has announced that passengers in its hometown can now use its app to summon a ride in a car that can drives itself. The ride sharing firm is bringing a small number of self-driving car to its ride-hailing service in San Francisco, a move likely to excite the city’s tech-savvy population and certain to antagonize California regulators. The self driven car technology will  ensure that a Uber employee behind the wheel to take over should the technology fail. According to Uber, Users of the App may be…