On the Digging Deeper podcast we are going to discuss Uber, its IPO, and what it means for a company that has endured its fair share of trouble across the world.
Sarfraz Maredia is driving Uber at a crucial moment when the cab aggregator is facing challenges in one of its largest markets: New York City
While Uber’s valuation is primarily linked to how well it sold its vision and growth prospects to its investors so far, its gross billing which comes from the total number of rides it completes also matters.
Plans are afoot to scale up to over 1,000 techies across engineering and product teams in Bengaluru and Hyderabad said the company which currently has 500 plus engineers across the two locations.
Uber was driving the vehicles on public roads in four cities” sometimes at night” at speeds as high as 55 miles an hour when testing was halted after the accident, the paper said.
Britain's Information Commissioner's Office said Tuesday it fined the company 385,000 pounds ($491,000) and Dutch officials imposed a 600,000-euro ($679,000) fine for violating Dutch data protection laws.
China will crack down hard on monopolistic activity that damages consumer rights, Wu said.
The announcement came days before the strike threat on November 18 and 19 that the drivers had given to the management after their 12-day strike last month.
Its sales grew by about 5 percent to $2.95 billion for the said quarter from the previous quarter.
The new incentive is applicable in Mumbai to begin with, Uber India said in a statement on Wednesday.
A case brought by a private individual against the holding companies of the two firms claimed that their algorithmic pricing model "takes away the liberty of individual drivers to compete with each other and thus, amounts to price fixing".
In a 13-page order, the Competition Commission of India (CCI) also dismissed complaints that Ola and Uber are imposing a resale price maintenance system on the drivers as well as alleged price discrimination.
Considering the frequency of strikes, the legal ramification may only be to appreciate the legitimacy of drivers’ struggles and giving them their due recognition as a 'worker' under the law
The Silicon Valley-based company, which could be valued at $120 billion in a forthcoming flotation, has faced legal action, protests, regulator crackdowns and licence losses around the world as it challenges existing competitors and rapidly expands.
Uber Chief Financial Officer Nelson Chai will take over Poetzscher's duties while the company looks for his replacement, an Uber spokeswoman said, without providing further details.
'Our objective is not to challenge the remedies of the decision, which are in fact almost identical to the commitments that Uber and Grab voluntarily offered to the CCCS (Competition and Consumer Commission of Singapore),' Uber said in a statement.
The offering includes a $1.5 billion portion of eight-year bonds, up from an originally planned $1 billion. The rest $500 million has a five-year tenure, the report said.
Uber has presence in 31 cities while its competitor Ola offers services in around 110 cities.
The development comes in at a time when Softbank-backed rival Ola has been on an international expansion spree. Besides India, it has expanded its operations to Australia, UK and New Zealand.
The government had agreed in 2017 on new regulations in an attempt to guarantee a cap on licences for Uber and similar services at a ratio of just one permit for every 30 taxi permits
The settlement with 50 US states and Washington, DC brings closure to one of several high-stakes legal battles Uber is seeking to resolve before an initial public offering next year, while also delivering a national rebuke against Uber's history of flouting laws and basic business ethics.
As of now, the proposal is just a draft. The government will evaluate suggestions and objections from stakeholders before finalising it
The slowdown is a result of the two companies focussing more on operational efficiency, cutting customer discounts, expansion into new spaces such as food delivery and driver incentives, the report said
The Competition and Consumer Commission of Singapore has fined Uber S$6.6 million and Grab S$6.4 million, it said on Monday.
Uber and Careem held preliminary talks in July to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry in the region.