Uber Technologies Inc (NYSE: UBER) Acquires Transplace Through Uber Freight

Uber Technologies Inc’s (NYSE: UBER) Subsidiary, Uber Freight, has announced the acquisition of TPG Capital’s Transplace at $2.25 billion in cash. GCM Grosvenor, D1 Capital, and Abu Dhabi Growth fund made a $550 million investment in Uber Freight to support the transaction. The acquisition combines operational solutions and shipper technology from Transplace with digitally-enabled carriers […]

Uber Technologies Inc (NYSE: UBER) Eliminates Bonuses in Areas Where Drivers Are Back to Work

Uber Technologies Inc (NYSE: UBER) has had several shortcomings as a consequence of the pandemic. One such problem is a labor crisis with drivers scared of returning to work, as some are concerned about contracting Covid-19. In contrast, others have retired early for a better work opportunity or to become full-time parents. Other drivers have […]

Uber Technologies Inc. (NYSE: UBER) And Lyft Inc. (NYSE: LYFT) Are Polluting The Environment As They Face Assault Lawsuits

A new study has shown that ridesharing companies Uber Technologies Inc. (NYSE: UBER) and Lyft Inc. (NYSE: LYFT) may be sparing the environment from carbon emissions that result from starting a cold vehicle. Still, these gains are wiped by drivers driving around to wait for customers or fetching clients, which is called deadheading. Ridesharing rides […]

Uber Technologies Inc. (NYSE: UBER) Acquires Drizly As Uber Eats Drivers Accuse It Of Using Racist Facial Recognition Software

Uber Technologies Inc. (NYSE: UBER) has completed Drizly’s acquisition, and the two companies are expected to start integrating their complementary services and delivery apps. Uber acquires Drizly  The acquisition consideration was around $ 1.1 billion, comprising nearly 18.7 million newly issued Uber common shares and cash. Drizly is an on-demand alcohol marketplace with several local […]

Trip Segment Values for Uber, Lyft Endure Rising Nationwide Amongst Motorist Scarcity

Summoning a trip is turning out to be progressively costly for customers. As ride-share companies like Uber (NYSE:UBER) and Lyft battle driver scarcities, fees for trips have skewered 40% countrywide, rendering to statistics from Rakuten. The upwelling is striking big cities like New York, Los Angeles, and Chicago particularly stiff. Industry forecasters say that with […]

California Passes A New Rule Forcing Rideshare Companies – LYFT Inc (NASDAQ: LYFT) And Uber Technologies Inc (NYSE: UBER) To Switch To Electric Vehicles

California is the first state to implement CMS (Clean Mile Standard) in the US. The new law mandates ridesharing companies – LYFT Inc (NASDAQ: LYFT) and Uber Technologies Inc (NYSE: UBER) to transition to electric vehicles from gasoline-based vehicles. CMS will be effective from 2023 According to a communiqué from CARB (California Air Resources Board), […]

Uber Technologies Inc (NYSE:UBER) And LYFT Inc (NASDAQ:LYFT) Expects To Resume Ride Share Service With COVID-19 Related Restrictions Easing And Customers Begins Travel

The rideshare companies Uber Technologies Inc (NYSE:UBER) and LYFT Inc (NASDAQ:LYFT) will resume regular services with customers to begin travel amid easing COVID-19 related restrictions. Demand for travel increases The growing demand for travel augurs well for ridesharing companies.  The gig business model also received political support in California. However, the company that depends on […]

Uber Technologies Inc (NYSE:UBER) And LYFT Inc (NASDAQ:LYFT) Strive To End Driver Shortages By Offering Bonuses

The outbreak of the coronavirus brought Ride-hailing to its knees, and that was back in 2020. LYFT Inc (NASDAQ:LYFT) and Uber Technologies Inc (NYSE:UBER) reported losses, but things seem to be taking a different turn lately. The companies attribute the impressive changes to the government’s vaccination programs in the previous month. Return to normalcy The […]

Uber Technologies Inc (NYSE:UBER) Opens Up About Offering Gig Economy Workers Workplace Pensions

It was sometime back that UK’s Supreme Court considered a case brought before it by 35 Uber Technologies Inc (NYSE:UBER) drivers. The fate of thousands of gig economy workers lay in the hands of the court’s ruling, and that it was a much-awaited ruling. The C court’s ruling favored the drivers who launched complaints about […]

Uber Technologies Inc (NYSE:UBER) Eyeing The Supreme Court Verdict And Its Implications

The Supreme Court will on Friday give its judgment on Uber’s case. It was back in 2016 that 25 Uber drivers filed a suit wanting recognition as workers. A positive outcome from the court would entitle them to holiday pay and minimum wage like the rest of the workforce. The case has been ongoing since […]

Uber Technologies Inc. (NYSE:UBER) Wins Mobile Ad Fraud case Against Phunware For Violation Of Advertising Standards

Uber Technologies Inc. (NYSE:UBER) won a multimillion-dollar lawsuit over mobile ad fraud, and in the process uncovered significant evidence. Uber wins ad fraud case against Phunware  In 2017, mobile advertising firm Phunware Inc. had sued the ride-sharing company for $3 million unpaid invoices. However, Uber counterclaimed against the company accusing the company’s co-founder and CEO […]

Uber Technology Inc. (NYSE:UBER) And Lyft Inc. (NASDAQ:LYFT) Operations In Major Cities Linked To Car Ownership Increase

Uber Technology Inc. (NYSE:UBER) and Lyft Inc. (NASDAQ:LYFT) operations in several urban areas have been associated with an increase in car ownership by 0.7% on average per capita. This is according to research published in the journal of iScience that analyzed data from major cities in the US between 2011 and 2017. Ridesharing linked to […]

Uber Technologies Inc. (NYSE:UBER), And Lyft Inc. (NASDAQ:LYFT) Drivers To Continue Working As Independent Contractors

Uber Technologies Inc. (NYSE:UBER), Lyft Inc. (NASDAQ:LYFT) drivers, and workers of gig economy companies in California will continue to be treated as independent contractors after voters approved Proposition 22. This is a ballot measure allowing companies not to be treated as employees, which voters reportedly passed by 58%. Gig economy workers to continue as independent […]

Uber Eats Overtakes Ride-Sharing As Uber Technologies Inc (NYSE:UBER)’s Leading Source Of Revenue

Uber Eats has overtaken Uber ride-hailing service as Uber Technologies Inc (NYSE:UBER)’s leading source of revenue. According to the company’s 2Q 2020 results, Uber rides registered a whopping 75% drop in gross bookings compared to the same quarter last year. The ride-sharing unit reported $3 billion in revenue. On the other hand, Uber’s delivery unit […]

COVID-19 Pandemic Affected Uber (NYSE:UBER) And Lyft (NASDAQ:LYFT) Drivers Most As Calls For Their Reclassification Grow

Uber Technologies (NYSE:UBER) and Lyft Inc. (NASDAQ:LYFT) drivers have been among the most affected by the pandemic because the stay at home measures has impacted demand for-hire car business. Ridesharing drivers most affected by the pandemic The pandemic has done a lot of damage, which shows there is a need to change and fix relationships […]