UBER TECHNOLOGIES INC
New product, new business: Uber to sell software
Uber’s effort to re-purpose its software for others to use has been years in the making. Although the first deal is small, it could be the start of a reliable revenue stream in the future in the form of long term contracts.
New woes for SoftBank's Son: Wirecard may go the WeWork way
As Wirecard drama unfolds, it may well turn into this year's WeWork, another PR d...
SoftBank CEO defends Vision Fund chief Rajeev Misra, after losses, controversy
The Vision Fund lost almost $18 billion in the fiscal year end...
Uber sees grocery delivery sparking its next wave of growth
Grocery delivery is an area that has seen rapid growth following the Covid-19 outbreak.
Uber’s Ex-CTO reflects on a rift with Travis Kalanick and how to fix autonomous cars
Pham’s willing embrace of unemployment sets him far apart from the 6,700 former colleagues who lost their jobs last month. He gave notice a week before the first of two large rounds of job cuts eliminated about a quarter of Uber’s workforce.
SoftBank Vision Fund posts record $17.7 billion loss on Oyo, WeWork and Uber
SoftBank lost $17.7 billion last fiscal year after writing down the value of investments.
SoftBank’s Son offers mea culpa after Jesus comment backfires
SoftBank shares reached their highest level in two decades in April 2019, but then plunged by the most on record this March as the coronavirus slammed the company and its startups. Now Son is racing to stabilize his company for the challenges ahead.
SoftBank’s Vision Fund is planning to cut 10% of staff
The Vision Fund has struggled since WeWork botched its efforts to go public last year and SoftBank stepped in to bail the company out.
SoftBank doubles buyback plans while Jack Ma leaves board
That first buyback, announced in mid-March, initially failed to lift SoftBank’s stock amid concerns the conglomerate’s portfolio of startups is vulnerable to the economic shock from the coronavirus pandemic.
Uber CTO steps down as company reportedly weighs job cuts
Earlier this month the company withdrew its financial forecast for 2020 and said it would write down about $2 billion in investments impaired by Covid-19.
Uber is reducing workforce by 14% and signals more cuts to come
Uber instituted a hiring freeze in March, withdrew its financial forecast and wrote down some $2 billion worth of investments in April and said Monday it would shutter food delivery operations in seven countries.
Musk says ‘time to break up Amazon,’ fueling feud with Bezos
Tesla Inc. Chief Executive Officer Elon Musk is escalating a rivalry with Amazon.com Inc. CEO Jeff Bezos.
Mobility firms Ola, Zoomcar may downsize fleet as rides thin out
Zoomcar owns more than 10,000 cars that customers rent on a self-drive basis. A large portion of their fleets has been unused since the beginning of the lockdown.
Bankers keep Vision Fund going with rubber bands
A likely scenario is that the Vision Fund will once again find bankers willing enough to front the required money, but one would expect (hope) they’d ask for some collateral to back it up and charge a hefty enough interest rate to make it worthwhile in these unstable times.
Uber, posting first-ever decline in rides, says worst is over
During the past week, Uber has embarked on a blitz of cost-trimming moves. Uber said it will end food delivery operations in more than a half-dozen countries and that its Middle East unit Careem will terminate 31% of employees.
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