Tag: Uber

Jeff Holden, Uber’s head of product resigns
Global Tech

Jeff Holden, Uber’s head of product resigns

Jeff Holden, Uber Technologies Inc Chief Product Officer is leaving the company as part of recent executive departures in the ride-hailing startup. According to Reuters News which cited an Uber spokesperson, Holden oversaw Uber Elevate, the company’s flying car operation, which is now headed by Eric Allison, the spokesman said, […]

Uber has burnt $10.7 billion in nine years
Tech

Uber has burnt $10.7 billion in nine years

Without making a single profit, Uber, the world’s most valuable startup company is burning money in record proportions. Within nine years of its founding, Uber has spent over $10.7 billion with no visible path into profitability. In comparison Facebook and Google are already making bigger revenues and even profit at […]

Uber, Yandex merge ride sharing business in Russia
Tech

Uber, Yandex merge ride sharing business in Russia

Yandex and Uber have announced the merger of Yandex.Taxi and the Uber ride-sharing businesses in Russia and neighboring countries have closed. At closing, Uber invested $225 million and Yandex invested $100 million in cash in the combined company. The combined business has more than $400 million in cash on hand […]

Russia approves Yandex ridesharing business with Uber
Tech

Russia approves Yandex ridesharing business with Uber

The Federal Antimonopoly Service of the Russian Federation has approved the agreement between Yandex and Uber to combine their ride-sharing businesses in Russia. The Ministry of Antimonopoly Regulation and Trade of the Republic of Belarus has also approved the transaction in Belarus. The decision of the antimonopoly service of Kazakhstan […]

Why Uber was hiding a devious hack
Tech

Why Uber was hiding a devious hack

Uber are said to have paid hackers to a tune of USD100,000 to conceal a breach in the company’s system in 2016. Uber confirmed that information of over 57 million customers and drivers in October 2016 were stolen without the company alerting the key players. The hackers were reported to […]

Why Taxi app Uber lost its license in London
Global

Why Taxi app Uber lost its license in London

Popular Taxi technology firm, Uber, has lost its licence to operate in London effective September 30, London. The city’s transport regulator announced the decision which obviously will deal a huge blow blow to the taxi app. The regulator, Transport for London said that Uber approach to transportation lacked corporate responsibility […]

Alphabet to invest USD1 billion in Uber’s rival, Lyft
Tech

Alphabet to invest USD1 billion in Uber’s rival, Lyft

Lyft, Uber’s biggest competitor in the western region might be getting close to USD1 billion investment to its kitty. According to unnamed sources cited by Bloomberg, Alphabet Inc., Google’s parent might be taking the bet anytime soon. The fund is said to be invested through Capital G, Alphabet’s venture capital […]