Sunday, June 23

Tag: Dara Khosrowshahi

Uber Chief tightening his grip in the Ride Sharing Firm
News

Uber Chief tightening his grip in the Ride Sharing Firm

Uber chief Dara Khosrowshahi tightening his grip in the ride-sharing firm in the wake of a bumpy stock market debut. The company's chief operating officer and head of marketing will leave in a leadership shake-up that will result in Uber's shared rides and food delivery platforms reporting directly to Uber chief, according to a mail provided to Pixr8 News. Khosrowshahi credited the maturing of operations at the San Francisco-based company and the completion of its initial public offering last month with enabling him to make the management moves. "I now have the ability to be even more involved in the day-to-day operations of our biggest businesses, the core platform of Rides and Eats, and have decided they should report directly to me," Khosrowshahi said in his message to employ...
Uber In Talks To Merge With Careem In Middle East
MIDDLE EAST

Uber In Talks To Merge With Careem In Middle East

Uber Technologies is in preliminary talks with the Middle East cab service company Careem Networks for the purpose of combining their ride-hailing services in the Middle East. Both the cab companies have discussed various considerable deal structures but have still not come to an agreement. According to the reports, current leaders of Careem would be managing the newly combined business, as well as retaining one or both of the companies' local brands. Another proposal that has been reported is that the Uber will be acquiring the Middle-East ride-hailing mobile application. If not acquiring Careem wholly, Uber stated that it would need to own more than half of the combined company. To this, Careem has yet not declined or accepted any comments. "Our ambition is to build a lasting inst...
Uber Records Eye-Dropping Profits That Will Be Reinvested in India
BUSINESS

Uber Records Eye-Dropping Profits That Will Be Reinvested in India

Uber is currently facing a lot of competition with India-based cab aggregator rival Ola, in Australia. However, the global leader in the ride-hailing market’s CEO, Dara Khosrowshahi, reportedly stated that the company will keep investing in its products and technology in emerging markets such as India and Middle East. In an email sent to his employees, the recently appointed CEO stated that the company’s core business has been achieving well and saw the number of trips on the platform increase by 43% while bookings also rose by 55% to $11.3 Bn year-on-year. He further expressed that the company’s net revenue grew by 67% to reach $2.5 Bn while it was able to cut losses by half compared to the previous year. We are deliberately reinvesting our profits. Even with these impressive results,...
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’s Technology Will Reduce Traffic Congestion In Indian Metro Cities
News

Uber’s Technology Will Reduce Traffic Congestion In Indian Metro Cities

Uber, the US based cab hailing company, is taking the responsibility of helping civic authorities, traffic police, researches, think tanks and policymakers find ways of reducing traffic and congestion by applying big data and analytics to find patterns commuting habits and propose innovative plans meant to improve road infrastructure and traffic management decisions. Therefore, the cab aggregator Uber launched the second phase of ‘Movement’, a free tool destined to collect data from millions of trips and eventually assist urban planners in achieving sustainable development in road infrastructure and implement policies that would substantially improve commuting facilities in metro cities. Uber is taking a formal stand against traffic congestion with this initiative and shows its commi...
Uber Developed New App For Its Drivers
News

Uber Developed New App For Its Drivers

Uber developed an app designed exclusively for its drivers that includes a tracker revealing their earnings in real-time as a renewed effort to show its commitment with the Indian market and display its goodwill to satisfy both its clients and employees. The new app comes after Uber’s ‘180 days of change’ program that was launched in June last year in a bid to reply to the diverse requests of Uber’s drivers, such as a tip system and compensation for time wasted in waiting for passengers. "While 180 Days was about correcting missteps of the past, we also needed to think longer term, and the obvious place to start was the Driver app," Chief Executive Officer Dara Khosrowshahi said in a statement. The new app will include lots of useful and new features such as a status bar designed to f...
Why Uber CEO is not Worried about its Losses?
Entrepreneurs Talk

Why Uber CEO is not Worried about its Losses?

Speaking at a conference held in San Francisco on Monday, the cab aggregator giant Uber Technologies chief executive officer Dara Khosrowshahi said that "we can turn the knobs to get this business even on a full basis profitable." Uber's last year losses were $4.5 billion on net revenue of $7.5 billion, but this is the last thought that Uber CEO is worried about right now. He says,"(forcing the business to be profitable)would sacrifice growth and sacrifice innovation.” Dara said that it's Uber's commitment to "developing" markets that are dragging its business down, but he views that as an "optional investment". He however, thinks that it is the "right thing to do," indicating that company will not stop exploring options and investing in Asia. Ultimately, Uber's business is getting p...
Uber Names Ex-Orbitz Executive As COO
News

Uber Names Ex-Orbitz Executive As COO

Uber Technologies Inc on Wednesday named the former chief executive of Orbitz to be its chief operating officer, second-in-command to new CEO Dara Khosrowshahi, who has been revamping the leadership team in hopes of turning around the ride provider and preparing for an IPO. Barney Harford, who was CEO of online travel service Orbitz Worldwide Inc, will join Uber on Jan. 2 and will be tasked with overseeing global ride-hailing operations, marketing, customer support and the food delivery business. A familiar face at Uber, he been an adviser since October, Khosrowshahi said in an email to employees. With Khosrowshahi flying to Europe and South America to address regulatory issues, Harford will have an important role in Uber’s day-to-day business. He must also help figure out how to...
Uber Ties Up With BBM Messenger On Ride Booking
News

Uber Ties Up With BBM Messenger On Ride Booking

Uber Technologies said on Monday it has joined forces with BBM Messenger to allow users around the world, including in the application’s biggest market of Indonesia, to book rides via the messenger service. The partnership agreement is with Creative Media Works, operating as BBM Messenger, the company said in a statement. ”With this partnership, BBM users can quickly request an Uber ride via BBM despite variations in quality of location, network speed, or device features,” said Chan Park, Uber’s general manager in Southeast Asia. The agreement means that BBM Messenger users, including both Android and iOS users, can book an Uber ride without leaving the BBM app, or being required to have a stand-alone Uber app on their phone, the company said. Creative Media works is a unit...
Uber Hacking Cover-Up Collides With SoftBank Deal, Triggers Probes Worldwide
USA

Uber Hacking Cover-Up Collides With SoftBank Deal, Triggers Probes Worldwide

A newspaper advertisement for an Uber Technologies Inc stock sale was juxtaposed on Wednesday with a report that the ride-service provider had covered up a data hack – something of a metaphor for Uber, a company with boundless investor interest, but whose penchant for rule-breaking has led to a series of scandals. The stock sale advertised in the New York Times will enable Uber investors to sell their shares to Japanese investor SoftBank, a critical deal for the company whose problems included building software to spy on competitors and to evade regulators and being investigated in Asia for paying bribes. Uber on Tuesday said that it had paid hackers $100,000 to destroy data on more than 57 million customers and drivers that was stolen from the company – and decided under the previou...
Uber Paid Hackers $100,000, Concealed Data Stolen From 57 Million Accounts
News

Uber Paid Hackers $100,000, Concealed Data Stolen From 57 Million Accounts

Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the data of some 57 million accounts of the ride-service provider, the company said on Tuesday. Discovery of the company’s cover-up of the incident resulted in the firing of two employees who led Uber’s response to the hack, said Dara Khosrowshahi, who was named CEO in August following the departure of founder Travis Kalanick. Khosrowshahi said he had only recently learned of the breach, which happened in October 2016.  "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post on the company website. The company’s admission that it failed to disclose the breach comes as Uber seeks to recover from sexual harassment allegations and mul...
Uber’s European Policy Chief Christopher Burghardt Quits
News

Uber’s European Policy Chief Christopher Burghardt Quits

Uber’s European policy chief Christopher Burghardt has quit to join the electric vehicle charging network company Chargepoint, the latest senior figure to leave the taxi app, the Financial Times reported on Tuesday. Burghardt, the head of policy for Europe, the Middle East and Africa, departs after less than two years with the group, and will become managing director for Chargepoint in Europe in November, the FT said. No one was immediately available from Uber to comment. RELATED Now Uber’s Chief Legal Officer Set To Leave The Company Earlier this month, Uber’s top boss in Britain also quit the Silicon Valley company, which was told last month by London’s transport regulator (TfL) that its license to operate in the British capital would not be renewed. It is appealing t...