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.
Taxi and Hire Car Drivers in Victoria are preparing to sue Uber for hundreds of millions of dollars in lost earnings. It will be alleged Uber operated illegally when they launched in Victoria without legal approval in the state, according to the Australian Associated Press. Sign up for Which-50’s Irregular
Amazon today announced it is increasing the minimum wage of its 350,000 full and part time US workers to $US15 per hour, following increased pressure over the treatment of its lowest paid workers. Meanwhile, research released today reveals American Uber drivers are being paid less than $US10 per hour –
Digital is disrupting the auto industry on multiple fronts. Smart factories are upending manufacturing processes, ecommerce is changing the way cars are sold, ride sharing is inspiring new business models and emerging automotive technologies such as electrification and autonomy are making their way into mass produced vehicles. To survive in