Tag: Uber
Uber lays off another 3,000 employees
Uber is laying off another 3,000 employees, the Wall Street Journal reports. Uber is also closing 45 offices and rethinking its approach in areas like freight and autonomous vehicle technology. This comes just weeks after Uber laid off 3,700 employees in order to save about $1 billion in costs. Meanwhile,…
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The first Vision Fund is officially done investing (and spent $100M every day of its existence)
There is a flurry of news out of SoftBank this morning, which announced its Fiscal Year 2019 (ending March 31, 2020) financial results overnight. It’s been a bad year for the Vision Fund, with huge losses at WeWork and Uber due to corporate incompetence, intrigue, and of course, COVID-19. But…
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With pandemic-era acquisitions, big tech is back in the antitrust crosshairs
With many major sectors totally frozen and reeling from losses, tech’s biggest players are proving themselves to be the exception to the rule yet again. On Friday, Facebook confirmed its plans to buy Giphy, a popular gif search engine, in a deal believed to be worth $400 million. Facebook has…
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7 top mobility VCs discuss COVID-19 strategies and trends
As COVID-19 swept across the globe, no sector lay untouched, but perhaps no industry was more disrupted than transportation. Airlines slashed routes, public transit use plummeted, ridership on Uber, Lyft and other ride-hailing platforms dropped and shared scooter companies pulled products from city streets. Meanwhile, e-bike sales bloomed and on-demand…
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Here’s how your Uber ride will change, starting May 18
Uber is rolling out a series of changes to its ride-hailing and on-demand food delivery apps, beginning Monday, as cities and states lift stay-at-home orders prompted by the COVID-19 pandemic. The changes, which includes an online checklist for all users, limits on the number of passengers in vehicles and a…
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Uber will require riders and drivers to wear face masks starting May 18th
Following on the heels of Lyft, Uber is introducing new rules to keep its users safe during the coronavirus pandemic. Starting on May 18th, Uber will require drivers, delivery people and riders to wear face protection before they can start using the… Source
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