Category: ride hailing
Amazon reportedly seals $1.2 billion acquisition of self-driving startup Zoox
Amazon will reportedly pay over $1.2 billion to acquire Zoox, one of the many companies working on self-driving technology, according to The Information and The Financial Times. The acquisition would be Amazon’s biggest step into self-driving so far,… Source
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How Grab adapted after COVID-19 hit its ride-hailing business
The COVID-19 pandemic is taking a heavy toll on ride-hailing services, like Uber and Lyft. Grab, Southeast Asia’s largest ride-hailing company, has also been impacted, but the company has adapted by quickly transitioning many of its ride-hailing drivers to its on-demand delivery verticals and expanding services needed by customers during…
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Why Uber and Lyft rallied last week
Heading into earnings season, you might have expected Uber and Lyft to suffer. After all, global travel slowed toward the end of Q1, so how could these companies have done well? Continuing the same line of thinking, given that they are both unprofitable and are valued more on growth than…
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Lyft shares rally 14% after it reports Q1 revenue growth of 23% to $955.7M
Fresh off of a large round of layoffs, Lyft reported its Q1 results this afternoon. The ride-hailing company disclosed that it generated revenue of $955.7 million in the first three months of 2020, up 23% from its year-ago Q1 revenue result of $776 million. The company’s net loss of $398.1…
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Lime’s valuation, variable costs and diverging categories of on-demand companies
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. We’re wrapping the week with Lime, scooters and the divergence between Uber and Lyft and their two-wheeled rivals. It’s been a hectic year for ride-hailing, but an even more turbulent…
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Grab and Gojek began discussing a potential merger more than three months ago
After a report that it is considering a potential merger with Grab, Gojek denied that it is planning a deal with its rival, but a source tells TechCrunch that the two companies have been talking for about three and a half months, beginning after Gojek founder and former CEO left…
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