Friday, March 29

Tag: uber technologies

Uber Reports Earnings, Shrinks on Losses Ahead of IPO
BUSINESS

Uber Reports Earnings, Shrinks on Losses Ahead of IPO

Cab riding Major, Uber Technologies has slashed its losses to almost half as its ride bookings have jumped 51 percent since last year, the Silicon Valley ride company reported on Wednesday showing that its business hasn't slowed down despite its retreating from the overseas market. The Cab Aggregator has also reported a one-time gain of $2.5 billion, a majority of which has come from its business sale to Russia and Southeast Asia. Meanwhile, the company is also spending heftily including to expand its on-demand ride business while preparing for an IPO. Interestingly, Uber has said that it would look for secondary share sale for employees and existing investors valuing the company at "$62 billion" A new investor Coatue Management and existing investors Altimeter Capital and TPG wil...
Uber Settles U.S. Allegations Over Data Privacy
News

Uber Settles U.S. Allegations Over Data Privacy

Uber Technologies Inc has agreed to two decades of audits after U.S. regulators found the ride-services company failed to protect the personal information of drivers and passengers and deceived the public about efforts to prevent snooping by its employees. (more…)