Uber Technologies announced an agreement to acquire majority ownership of Cornershop, an online grocery provider in Chile, Mexico, and more recently in Peru and Toronto. The investment is expected to close in early 2020, subject to regulatory approval. Sign up for Which-50’s Irregular Insights newsletter “Whether it’s getting a ride,
Steve Brennen, director of marketing APAC at Uber has moved to Zip Co to be the buy now, pay later provider’s new chief customer officer. At Uber, Brennen headed up marketing across Australia, New Zealand, Japan, Korea, Taiwan and Hong Kong. Brennen is also chair of the Australian Alliance for
A new Californian law passed overnight requiring gig economy companies to treat their workers as employees rather than contractors. The decision is expected to be felt around the US and could rewrite the rules of the gig economy when the law comes into force in 2020. Webinar: Can I Trust
Uber has chosen Melbourne as its first international pilot city for its Uber Air program with tests scheduled to start next year, followed by commercial flights from 2023. Uber already has test sites in Los Angeles and Dallas for its air transport program, which the company hopes will open up
Overnight, Uber delivered its first quarterly results since going public earlier this month. The ride hailing giant lost more than $US1 billion in the first three months of 2019 as revenue growth continued to slow. Sign up for Which-50’s Irregular Insights newsletter Nominate today for the Which-50 Digital Experience Awards.
Uber shares closed at $41.57 after their first day of trading, down almost 8 per cent from its listing price and valuing the company at US$69.7 billion. The company previously set a target of $44-$50 per share and on Thursday night priced its IPO at $45, towards the lower end
Overnight, ridesharing giant Uber made its S1 filing as part of its initial public offering, revealing the company made US$10 billion worth of operating losses since 2016. It also warned more operating losses are expected and it “may not achieve profitability”. The filing suggests Uber is pitching itself to investors
Ride sharing company Lyft has had it value soar on its first day on the Nasdaq with the company’s shares up 8.7 per cent at US$78.29 with a valuation of US$26.5 billion. Lyft debuted on the Nasdaq with a price of US$72 last Thursday. On Friday, its shares opened at
Uber has confidentially filed for an IPO over the weekend, after its rival Lyft also filed late last week. According to the Wall Street Journal, both companies filed their S-1 paperwork to the US Securities and Exchange Commission (SEC) with their shares to go public early next year. The two companies
China’s answer to Uber, DiDi has launched a roaming service in Australia allowing for its Greater China App users to use the Express app when travelling in Australia. The ridesharing company said this could potentially create thousands of new rideshare customers per day for its driver-partners in Melbourne and Geelong.