Page 40 - Uber

Uber turns to Saudi for $3.5-billion funding

In its quest to build a global empire, Uber has turned to the West Asia for its biggest infusion of cash from a single investor.Uber said on Wednesday that it had raised $3.5 billion from Saudi Arabia's Public Investment Fund, the kingdom's main investment fund, in one of the largest-ever investments into a privately held start-up.The money was part of the ride-hailing giant's most recent financing round and continued to value Uber at $62.5 billion. The investment, which was months in the making, does not cash out any of Uber's existing investors.Uber, which has viewed the West Asia as an important area in its expansion, said the investment further aligned the company with Saudi Arabia as the kingdom planned to transform its economy, reducing its dependence on oil and improving employment. Until now, Saudi Arabia has not been known for venture capital investing, though some members of its royal family have made some deals. Prince Alwaleed bin Talal, for instance, has invested in Lyft,

Uber takes Karnataka to court on new rules; says it is constitutional

This is the second time it has challenged local authorities after it took on the Delhi govt for denying it a licence to operate in the capital

Karnataka to Uber, Ola: Get licence or go off roads

Ola and Uber have committed to spending Rs 15,000 cr to win the taxi market

Selling Uber shares may be much tougher than you actually think

SharesPost, a broker of private technology stocks, approached investors with what seemed like an alluring offer: a potential investment in a fund that would hold Uber Technologies shares. In exchange for exposure to the high-flying ride-hailing startup, they were asked to part with at least $100,000 each and agree to hold the stake until the company goes public or gets acquired, with no vote in business decisions or visibility into its operations or finances.But SharesPost said it called off the proposed deal. The plan was to purchase as much as $10 million in preferred shares from Uber's most recent round of financing and package them in an investment fund to be sold at a premium, according to offering documents obtained by Bloomberg.SharesPost said it wouldn't pursue the transaction, citing a "lack of investor interest." "It became clear that the minimum funds would not be collected for this deal, and as a result, the sales team began to inform interested clients of this fact," Greg

Uber to test self-driving cars in Pittsburgh city

The hybrid Ford Fusion converted car is mounted with various sensors to map details of the environment

Uber bikes in Bengaluru face legal hurdle again

Gurgaon is now the only place where Uber is offering this service. However, it said it was hopeful of growing in this category

Uber and out

Uber's deal with US drivers looks cheap

Uber recognises drivers' group in New York

Agreement is Uber's latest attempt to assuage mounting concerns from regulators and drivers about the ride-hailing firm's labour model

Uber drivers, if employees, owed $730 million more: US court papers

According to attorneys for Uber drivers, the total potential damages in the case are $852 million.

Two years of Uber in Mumbai

Here are some interesting numbers the cab hailing app has shared in a blog post

Uber joins Alipay to allow Chinese tourists pay in yuan

The option has been expanded to more than 400 cities in 68 countries and regions in which Uber operates

Uber ties up with Alipay globally

Alipay's collaboration with Uber reflects a step forward of Ant Financial's global strategy, and the collaboration also extends to the Alipay's strategic global partners like Paytm in India

Drivers take to streets in Bengaluru as war between taxi aggregators, state goct escalates

Karnataka govt says Ola and Uber are not compliant with the newly passed rules for taxi

Defiant Uber takes on Arvind Kejriwal, will continue surge pricing

Say they should be allowed to do so as odd-even rule is not in place; demand separate scheme for aggregators

Uber brings back surge pricing

Kejriwal warns of strong action

Karnataka accuses Uber and Ola of violating norms; seizes vehicles

Around 100 vehicles operating on both the aggregators' platforms have been impounded and penalised for violating norms

Uber vs Ola: How fight for Indian taxi market ended up in court

Uber has filed a lawsuit accusing Ola of a campaign to disrupt its business and poach its drivers

Over but not out

Uber driver deal just a detour from legal showdown

Tipping is coming to Uber, and how

Uber has agreed to notify customers more clearly that tips are not included in fares and give tacit approval for optional gratuity

Surge pricing: Why should commuters pay for the monster created by Uber, Ola

Surge pricing is a fix Uber and Ola have manufactured to deal with the problem created by their faulty business models that seek to grab market share at any cost