Category: Uber
Lyft sees ride revenues recover by nearly 50% in just three months
Shares of Lyft are riding high, popping more than 7% in after-hours trading today after the American ride-hailing giant reported its Q3 earnings. Lyft, which competes with Uber for rideshare, reported revenues of $499.7 million in third-quarter, a 48% drop from the $955.6 million in same year-ago period. That lackluster…
Read More
Transportation on the ballot, Softbank parks its money in REEF and Tesla Tequila arrives
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to…
Read More
Human Capital: The gig economy in a post-Prop 22 world
Welcome back to Human Capital and congrats on making it through one of the hardest weeks of the longest year. Now that the Associated Press has called the election in favor of Joe Biden, it should be good news for DEI practitioners, who expressed some worry they’d be out of…
Read More
Provizio closes $6.2M seed round for its car safety platform using sensors and AI
Provizio, a combination hardware and software startup with technology to improve car safety, has closed a seed investment round of $6.2million. Investors include Bobby Hambrick (the founder of Autonomous Stuff); the founders of Movidius; the European Innovation Council (EIC); ACT Venture Capital. The startup has a “five-dimensional” sensory platform that…
Read More
After Prop 22’s passage, Uber is taking its lobbying effort global
Fresh off of its success on Election Day, Uber is signaling that it will continue to push laws similar to the Proposition 22 measure approved by California voters that will keep gig workers classified as independent contractors. The ride-hailing company’s ambitions for laws that preserve its business model are global.…
Read More
Huge delivery demand fails to stop Uber’s revenue from shrinking in Q3
Despite surging delivery demand, Uber’s third-quarter ultimately failed to meet investor revenue expectations in the third quarter. Uber reported gross bookings of $14.7 billion, in the period, a decline of 10% compared to the year-ago quarter. That level of platform spend generated revenue of $3.1 billion for the company, down…
Read More