News

Uber drivers earned over Rs 50K cr since 2013; 300 cr trips in India Drivers have earned more than Rs 50,000 crore through Uber, and 300 crore trips were taken on the ride-hailing platform over the last 10 years in India. Uber on Tuesday completed 10 years in the country. “Uber has become a part of India’s social fabric and we are proud and privileged to have been able to make a difference by enabling access and movement to riders while enabling livelihood to millions of drivers over the last decade,” Prabhjeet Singh, President, Uber In...
Uber drivers earned over Rs 50K cr since 2013; 300 cr trips in India
Uber drivers earned over Rs 50K cr since 2013; 300 cr trips in India
Source: IANS
29/08/2023 2:05:51 PM
Uber appoints Arnab Kumar as Director of Business Development for India and South Asia Uber, India’s leading ridesharing app, has announced the appointment of Arnab Kumar as Director of Business Development for India and South Asia. Arnab joins Uber with over 17 years of experience across technology and financial services  sectors. Arnab’s professional journey includes building the India operations for Coinbase and leading India fintech investments and strategic initiatives for Prosus (formerly known as Naspers). Arnab has previously served as Program Direct...
Uber appoints Arnab Kumar as Director of Business Development for India and South Asia
Uber appoints Arnab Kumar as Director of Business Development for India and South Asia
Source: PR Agency
25/08/2023 10:56:43 AM
Uber working on AI-powered chatbot, logs first-ever operating profit Ride-hailing platform Uber is reportedly working on an AI-powered chatbot to boost customer service as the company posted its first-ever operating profit in the second quarter (Q2) this year. Uber CEO Dara Khosrowshahi said that Uber has been leveraging machine learning for years. "We’re working on it (chatbot) right now. We have been working with machine learning, artificial intelligence systems for years and years," he was quoted as saying on Bloomberg Technology Show....
Uber working on AI-powered chatbot, logs first-ever operating profit
Uber working on AI-powered chatbot, logs first-ever operating profit
Source: Reuters
3/08/2023 9:46:23 AM
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market Fleet management company Everest Fleet on Wednesday said it has closed a $20 million funding round led by Uber. Mumbai-headquartered Everest fleet operates in the shared mobility space in the country and is an existing partner to Uber and Ola. The company said that fresh funds will enable it to expand its operations and grow the overall supply pool available for the ride-sharing industry, where demand continues to outstrip vehicle supply. "This funding round will accelerate our ...
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market
Source: IANS
14/06/2023 1:00:15 PM
Uber to offer cashback as it drops ride discounts for subscribers  Ride-hailing platform Uber has discontinued the 5 per cent discounts on eligible rides that it previously provided to Uber One subscribers. According to an email sent out to customers, beginning with the next billing cycle, subscribers will earn 6 per cent 'Uber Cash' on eligible rides, which they will be able to spend on Uber and Uber Eats, reports TechCrunch. Since the company launched Uber One in 2021 for $9.99 per month and $99.99 per year, discounts on rides have been...
Uber to offer cashback as it drops ride discounts for subscribers
Uber to offer cashback as it drops ride discounts for subscribers
Source: IANS
31/05/2023 10:50:07 AM
All-electric Uber Green service arrives in India as firm inks EV partnerships Ride-hailing major Uber on Wednesday announced the launch of its global flagship service Uber Green in India from June, starting with Delhi, Mumbai, and Bengaluru. Uber Green is the most widely available on-demand mobility solution for no or low-emission rides in more than 100 cities in 15 countries around the world. The company also announced plans to expand its network of fleet partners to unlock EV growth on its platform with Lithium Urban Technologies, India's largest B2B fleet ...
All-electric Uber Green service arrives in India as firm inks EV partnerships
All-electric Uber Green service arrives in India as firm inks EV partnerships
Source: IANS
24/05/2023 6:21:37 PM
Uber steps up EV push in India with Uber Green Ride-hailing platform Uber Technologies is stepping up its efforts to go green in India by introducing more electric vehicles, partnering with more EV fleet operators, boosting financing options and giving its users the option to hire electric vehicles while booking their ride. As part of the launch of "Uber Green" in June, it will join hands with Zypp Electric to roll out 10,000 electric two-wheelers in Delhi by 2024, partner with SIDBI to provide 10 billion rupees ($122.3 milli...
Uber steps up EV push in India with Uber Green
Uber steps up EV push in India with Uber Green
Source: Reuters
24/05/2023 3:30:39 PM
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director  Flexible workspace provider WeWork India on Monday announced the appointment of Manoj Kohli, former Country Head of Softbank India, Softbank Group International, as an independent Director to its Board. Anthony Yazbeck, President and Chief Operating Officer, WeWork Inc, has also joined the Board. Kohli supported the SoftBank Group and Vision Fund in investing $15 billion in over 25 AI-focused portfolio companies in India. He has also aided entrepreneurs and CEOs of key players ...
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director
Source: IANS
22/05/2023 1:53:37 PM
SoftBank Vision Fund loses massive $32 bn as tech startups bleed Japanese investment giant SoftBank has posted a record $32 billion loss at its Vision Fund for the fiscal year that ended in March 2023, as funding winter continues amid global macroeconomic conditions. As tech startups valuations continue to dip, the Vision Fund vertical posted a 4.3 trillion Japanese yen (about $32 billion) loss for its fiscal year. "The fair value of a wide range of private portfolio companies also decreased, reflecting markdowns of weaker-performing companies a...
SoftBank Vision Fund loses massive $32 bn as tech startups bleed
SoftBank Vision Fund loses massive $32 bn as tech startups bleed
Source: IANS
11/05/2023 2:12:01 PM
Uber trips up 24% to 2.1 bn in Q1, sales grow 29% to $8.8 bn Ride-hailing major Uber reported a 24 per cent increase in trips to 2.1 billion during the first quarter of 2023, or approximately 24 million trips per day on average. According to Uber CEO Dara Khosrowshahi, the company significantly accelerated Q1 trip growth to 24 per cent from 19 per cent last quarter, with "mobility trip growth of 32 per cent as a result of improved earnings and consumer engagement". "Looking ahead, we are focused on extending our product, scale and ...
Uber trips up 24% to 2.1 bn in Q1, sales grow 29% to $8.8 bn
Uber trips up 24% to 2.1 bn in Q1, sales grow 29% to $8.8 bn
Source: IANS
3/05/2023 10:21:42 AM
Uber expands `Reserve to six more cities in India, also opens up cash payment option for planned travel seekers Uber today announced the expansion of Reserve across six more cities in India, providing riders across the option to pre-book their rides - 30 minutes to 90 days ahead of their travel. Uber Reserve will now be available for cash payments offering riders access to reliable, pre-booked rides. The service is now live across 13 cities in India – Mumbai, Bangalore, Delhi-NCR, Kolkata, Chennai, Pune, Hyderabad, Kochi, Chandigarh, Ahmedabad, Jaipur, Lucknow and Guwahati. The expansion ...
Uber expands `Reserve to six more cities in India, also opens up cash payment option for planned travel seekers
Uber expands `Reserve to six more cities in India, also opens up cash payment option for planned travel seekers
Source: PR Agency
26/04/2023 5:48:37 PM
Indian taxi startup BluSmart picks EV fight with Uber Indian ride-hailing startup BluSmart is seeking to challenge Uber and Ola for market share in the country with bets on an all-electric taxi fleet and an aggressive bid to lure disgruntled passengers and drivers from the incumbents. A clean energy push by Prime Minister Narendra Modi's government is expected to significantly change India's transport industry in years ahead, with major implications for ride-hailing firms. For dominant players Uber and SoftBank-backed Ola, a full s...
Indian taxi startup BluSmart picks EV fight with Uber
Indian taxi startup BluSmart picks EV fight with Uber
Source: Reuters
19/04/2023 10:23:19 AM
Uber launches `Audio Seatbelt Reminder` feature for riders in Hyderabad  Ride-hailing platform Uber on Tuesday launched a new tech-enabled safety feature 'Audio Seatbelt Reminder', designed to encourage riders to wear their seat belts in Hyderabad. The feature will prompt riders to buckle-in at the beginning of every Uber trip. The company plans to expand this feature to other cities in the coming months. "We are delighted to bring the Audio Seatbelt Reminder to Hyderabad. We believe that this new feature will be an effective way to enc...
Uber launches `Audio Seatbelt Reminder` feature for riders in Hyderabad
Uber launches `Audio Seatbelt Reminder` feature for riders in Hyderabad
Source: IANS
12/04/2023 3:05:50 PM
Uber sells $400 mn stake in UAE`s Careem super app biz Ride-hailing major Uber has sold its stake worth $400 million in Careem, the Middle East-based ride-hailing company that it bought in 2019, to boost its super app business. Careem will spin out its super app business into a new venture backed with $400 million from the telco giant Emirates Telecommunications (known as e&). Careem will be broken into two companies, Careem Rides and Careem Technologies, according to Mudassir Sheikha, CEO and Co-founder of Careem. "I am delight...
Uber sells $400 mn stake in UAE`s Careem super app biz
Uber sells $400 mn stake in UAE`s Careem super app biz
Source: IANS
11/04/2023 10:23:34 AM
Key Stock Ideas: Adani Power, Accenture , Tata Neu , Uber - ARETE Securities Adani Power sells Support Properties stake to AdaniConnex for Rs 1,556 cr: Adani Power on Thursday said it has sold a 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX) at an enterprise value of Rs 1,556.5 crore. "Parties to the proposed transaction (for which a binding memorandum of understanding had been signed earlier) have executed a Share Purchase Agreement and concluded the transaction," a BSE filing stated.   Accenture t...
Key Stock Ideas: Adani Power, Accenture , Tata Neu , Uber - ARETE Securities
Key Stock Ideas: Adani Power, Accenture , Tata Neu , Uber - ARETE Securities
Source: ARETE Securities Ltd
24/03/2023 9:35:08 AM
Now sync your air travel with Uber via email integration in India Ride-hailing major Uber on Thursday introduced a new feature where riders in India can opt to sync their air travel plans with the platform via email integration. The new feature helps riders pre-book their rides, while being assisted with pre-filled dates and times on their Uber app, corresponding to their flight, saving them the hassle of booking a trip at the last moment. The new feature is an opt-in, and will require riders to sync their email IDs with their Uber app to be able to a...
Now sync your air travel with Uber via email integration in India
Now sync your air travel with Uber via email integration in India
Source: IANS
23/03/2023 3:50:58 PM
Hyperscaling in turbulent times: A BCG - Times Bridge-TiE Delhi-NCR report Boston Consulting Group (BCG) in association with Times Bridge and the Delhi Chapter of The Indus Entrepreneurs (TiE Delhi-NCR) today, unveiled a report titled, ‘Road to Hyperscaling in India’.   The entrepreneurship and startup landscape in India has witnessed breakout growth over the last few years, transforming India into the third largest startup ecosystem in the world, just behind USA and China. Last few years witnessed the rise of 100+ unicorns – a valu...
Hyperscaling in turbulent times: A BCG - Times Bridge-TiE Delhi-NCR report
Hyperscaling in turbulent times: A BCG - Times Bridge-TiE Delhi-NCR report
Source: PR Agency
19/03/2023 12:58:56 PM
Tata Motors to induct 25K EVs into Uber`s premium service in India  Tata Motors on Monday signed a memorandum of understanding (MoU) with ride-hailing platform Uber to induct 25,000 XPRES-T electric vehicles into its premium category service in India. The collaboration represents the largest EV partnership yet between an automaker and a ridesharing platform in the country. In July 2021, Tata Motors launched the 'XPRES' brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand. Tata Motors will help ...
Tata Motors to induct 25K EVs into Uber`s premium service in India
Tata Motors to induct 25K EVs into Uber`s premium service in India
Source: Reuters
20/02/2023 1:57:10 PM
For Indian techies, is it the end of the great American dream? As thousands of techies continue to lose jobs at Big Tech companies amid recession fears, most of them are finding it difficult to get jobs, as there is a freeze on new hirings at nearly every top firms, amid global macroeconomic conditions and recession fears. Amazon, Salesforce, Meta, Twitter, Uber and other tech companies have laid off employees as well as put a total freeze on new hirings. In some cheer for those who have lost jobs in the ongoing funding winter and global macro-econ...
For Indian techies, is it the end of the great American dream?
For Indian techies, is it the end of the great American dream?
Source: IANS
7/01/2023 12:54:08 PM
Indians spent 11 bn minutes travelling in Uber cabs in 2022 Ride-hailing platform Uber in its annual analysis has said that Indians have spent 11 billion minutes travelling in its cabs in 2022. While most Uber trips were booked between 5 p.m. and 6 p.m., the most popular day of the week for booking was Saturday, according to the company. "The year 2022 saw Indians start travelling big again, and cities swinging back open for business after the pandemic. Uber trips during the year covered as many as 4.5 billion kilometres, which is the dista...
Indians spent 11 bn minutes travelling in Uber cabs in 2022
Indians spent 11 bn minutes travelling in Uber cabs in 2022
Source: IANS
26/12/2022 2:01:25 PM
Uber partners with Cartken to use sidewalk robots for food deliveries Ride-hailing major Uber has partnered with the US-based robotics company, Cartken, which will provide sidewalk robots to its subsidiary, Uber Eats, to deliver food. According to The Verge, the company will be getting six-wheeled delivery robots, developed by a team of former Google engineers, mostly known for deploying their vehicles on college campuses. Uber claims that its partnership with Cartken represents the robotics company's "first formal partnership with a global on-de...
Uber partners with Cartken to use sidewalk robots for food deliveries
Uber partners with Cartken to use sidewalk robots for food deliveries
Source: IANS
17/12/2022 5:19:52 PM
`Hyderabad accounts for one-third of new IT jobs created in India` Hyderabad accounted for one-third of the new jobs created in the information technology sector in the country during the last fiscal year. Telangana's minister for information technology, industry and commerce K. T. Rama Rao said on Wednesday that out of 4,50,000 new jobs created last year in the IT sector, 157,000 were created in Hyderabad. He pointed out that IT exports from Hyderabad have gone up from Rs 57,000 crore in 2014-15 to 1,83,000 crore in 2021-22. The minister was sp...
`Hyderabad accounts for one-third of new IT jobs created in India`
`Hyderabad accounts for one-third of new IT jobs created in India`
Source: IANS
14/12/2022 5:34:38 PM
IIT Guwahati receives 168 placement offers on Day 1 Placements for the 2022-23 academic year at the Indian Institute of Technology Guwahati (IITG) began on a strong note on Thursday with a total of 168 offers made by 46 companies, officials said. The institute received two international offers, the highest being of Rs 2.4 crore per annum, besides a highest domestic offer of Rs 1.1 crore per annum. An IITG official said that the 168 offers included job profiles such as software development engineer, core engineer, UX designer, VLSI, vehic...
IIT Guwahati receives 168 placement offers on Day 1
IIT Guwahati receives 168 placement offers on Day 1
Source: IANS
2/12/2022 11:34:17 AM
Uber introduces rear seatbelt reminder, SOS integration with cops in India Uber on Tuesday announced a slew of new technology-led safety features like audio rear seatbelt reminder, proactively detecting trip anomalies, customer SOS integration with local police and more. The ride-hailing service also expanded customer support in the country, where Uber's 24X7 safety line will be available to riders to report any safety issues while on-trip and up to 30 minutes after the trip has ended. "The availability of safe and convenient mobility options needs to...
Uber introduces rear seatbelt reminder, SOS integration with cops in India
Uber introduces rear seatbelt reminder, SOS integration with cops in India
Source: IANS
29/11/2022 2:36:19 PM
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities Ola, Uber drivers fret over 5% convenience fee on each autorickshaw ride                       The Ola Uber Drivers and Owners' Association (OUDOA) and the autorickshaw drivers linked with the ride-hailing companies are apprehensive about the five per cent convenience fee and Goods and Services Tax levied on every autorickshaw ride taken up by passengers. The Karnataka government on November 25 directed the regional transport autho...
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities
Source: ARETE Securities Ltd
28/11/2022 9:44:25 AM
New-age Indian internet firms continue to bleed as startup IPO dream over With leading financial services company Paytm's shares plunging to an all-time low of Rs 477 on Tuesday, the grim performance of new-age internet companies continued in the public market amid the global macroeconomic conditions. In the last 16 months or so, five of such startup/unicorn's initial public offerings - Paytm, Zomato, Nykaa, Delhivery and Policybazaar - have gone through a bloodbath, shedding more than $18 billion in value. VC firm Lighthouse India Fund III has sold 3...
New-age Indian internet firms continue to bleed as startup IPO dream over
New-age Indian internet firms continue to bleed as startup IPO dream over
Source: IANS
23/11/2022 10:45:17 AM
Uber launches its advertising division, will show video ads during rides  Ride-hailing platform Uber has launched its advertising division to engage consumers with brands, by showing video advertisements during the ride. The company introduced 'Uber Journey Ads', an entertaining method for businesses to engage customers. The company has already teamed up with over 40 prominent businesses to run Journey Ads. "We have a global audience of valuable, purchase-minded consumers who, as part of our core business, tell us where they want to go a...
Uber launches its advertising division, will show video ads during rides
Uber launches its advertising division, will show video ads during rides
Source: IANS
20/10/2022 10:34:53 AM
Shares of Uber, Lyft slump on US 'gig' economy plan  Shares in some of the world's largest "gig" economy companies have fallen after the US government outlined a plan to change the way workers are treated. Under the US Labor Department's proposal, workers would be more likely to be classified as employees instead of independent contractors, the BBC reported. Shares in firms including Uber and Lyft fell by more than 10 per cent on the news. Tens of millions of people work in the global gig economy across services...
Shares of Uber, Lyft slump on US 'gig' economy plan
Shares of Uber, Lyft slump on US 'gig' economy plan
Source: IANS
12/10/2022 1:23:32 PM
Uber back in robotaxi game, inks 10-year deal with Motional Rude-hailing platform Uber and Motional, a global driverless technology leader, on Thursday announced a 10-year agreement to offer fully driverless rides using Motional's new all-electric IONIQ 5-based robotaxis. With this, Uber has now returned to the game of robotaxis after it sold its struggling autonomous vehicle business to US-based Aurora Innovations in 2020. The companies said they will strategically deploy the service in cities across the US, with the first trips expected to...
Uber back in robotaxi game, inks 10-year deal with Motional
Uber back in robotaxi game, inks 10-year deal with Motional
Source: IANS
7/10/2022 8:56:51 AM
Uber asks its India drivers to ensure rear seatbelts in their cars work Ride-hailing company Uber Technologies has asked its drivers in India to ensure backseat seatbelts in their vehicles are accessible to passengers and they work, days after a local business tycoon died in a crash involving his private car. The move comes amid a growing road-safety push in India, the world's fourth-largest car market. Earlier in September, Cyrus Mistry, the former chairman of India's Tata Sons, died in a crash involving his Mercedes, and local media reported he was n...
Uber asks its India drivers to ensure rear seatbelts in their cars work
Uber asks its India drivers to ensure rear seatbelts in their cars work
Source: Reuters
20/09/2022 4:54:57 PM
Live security agents to help people during troublesome Uber rides  Ride-hailing major Uber has overhauled its safety toolkit, and riders can now get help, via phone or text, from a live safety agent from home security company ADT in the US in case they need to. When a call or text exchange is requested, the agent can monitor an ongoing trip, stay in contact through the duration of the trip, and even reach out to 911 on the user's behalf. The company has also expanded the availability of a feature enabling customers to text 911. "After...
Live security agents to help people during troublesome Uber rides
Live security agents to help people during troublesome Uber rides
Source: IANS
31/08/2022 12:58:03 PM
Uber generated Rs 44,600 cr worth economic value for India in 2021 Uber generated Rs 44,600 crore worth value for India's economy in 2021, helping drivers earn an additional Rs 1,700 crore in higher income, the ride-hailing platform revealed on Wednesday. Rides with Uber produced 1.5 lakh crore trillion in consumer surplus for the Indian riders in 2021 -- equivalent to 0.8 per cent of the GDP. "During a challenging time in India in 2021 which was marked by a brutal second Covid wave, Uber unlocked an estimated Rs 44,600 crore in economic value...
Uber generated Rs 44,600 cr worth economic value for India in 2021
Uber generated Rs 44,600 cr worth economic value for India in 2021
Source: IANS
24/08/2022 3:11:56 PM
Uber cancels Zomato ride, sells 7.8% stock for $390 mn in big block deal Ride-hailing platform Uber, which suffered around $707 million loss in its Zomato investment in the first half of this year, on Wednesday sold its 7.8 per cent stake worth over $390 million in the Deepinder Goyal-run company. Uber Technologies sold its share in the food delivery aggregator via a block deal on stock exchanges that has been bought by several global and Indian VCs, according to sources close to the development of the matter. According to them, the block deal move will actu...
Uber cancels Zomato ride, sells 7.8% stock for $390 mn in big block deal
Uber cancels Zomato ride, sells 7.8% stock for $390 mn in big block deal
Source: IANS
3/08/2022 3:53:38 PM
Uber reports $2.6 bn loss in Q2, gross bookings at all-time high Uber Technologies on Tuesday said that gross bookings reached an all-time high of $29.1 billion in the second quarter (Q2) this year, up 33 per cent (year-over-year), with reporting net loss of $2.6 billion. The net loss included a $1.7 billion net headwind (pre-tax) relating to Uber's equity investments, primarily due to aggregate unrealized losses related to the revaluation of Uber's Aurora, Grab, and Zomato stakes. Additionally, net loss includes $470 million in stock-based c...
Uber reports $2.6 bn loss in Q2, gross bookings at all-time high
Uber reports $2.6 bn loss in Q2, gross bookings at all-time high
Source: IANS
3/08/2022 8:58:43 AM
Uber sells 7.8% stake in India`s Zomato for $392 million -sources Uber Technologies on Wednesday sold its 7.8% stake in Indian food delivery firm Zomato Ltd for $392 million via a block trade on local exchanges, two sources familiar with the matter told Reuters. The deal was executed at 50.44 rupees per share, they said. Zomato and Uber did not immediately respond to requests for comment. Shares of Zomato Ltd fell as much as 9.6% to 50.25 rupees on India's Bombay Stock Exchange (BSE). The stock cut some losses later and was trading down 5.7% by 06...
Uber sells 7.8% stake in India`s Zomato for $392 million -sources
Uber sells 7.8% stake in India`s Zomato for $392 million -sources
Source: Reuters
3/08/2022 8:50:55 AM
Uber brings mobility fintech Moove to India to boost driver ecosystem  Ride-hailing major Uber on Monday announced to bring Moove, its largest vehicle supply partner in the Europe, the Middle East and Africa (EMEA) market, to India to help people buy new vehicles using a percentage of their weekly revenue, first in Mumbai, Bengaluru and Hyderabad, and become its driver-partners. Founded in 2020, mobility fintech Moove embeds its alternative credit scoring technology onto ride-hailing platforms and leverages proprietary performance and revenue analytics ...
Uber brings mobility fintech Moove to India to boost driver ecosystem
Uber brings mobility fintech Moove to India to boost driver ecosystem
Source: IANS
25/07/2022 1:47:27 PM
IIT professor`s ePlane Company aims to ferry Indians in flying air taxi in 2023  As urban mobility giants like Boeing, Hyundai, Airbus, Toyota, Uber and Joby Aviation plan to soon ferry passengers in air taxis, the homegrown ePlane Company is all set to to build India's first flying electric taxi to make passenger commute and cargo transport up to 10 times faster, its founder and CTO Satya Chakravarthy said on Tuesday. The startup is in the final stages of building a sub-scale version of the flying aircraft and expects to commence its flight trials in the nex...
IIT professor`s ePlane Company aims to ferry Indians in flying air taxi in 2023
IIT professor`s ePlane Company aims to ferry Indians in flying air taxi in 2023
Source: IANS
19/07/2022 12:13:49 PM
15K Uber drivers riding rented Tesla cars in US Ride-hailing platform Uber on Tuesday announced that more than 15,000 drivers in its fleet are driving Tesla cars via its partnership with can rental company Hertz. Tesla has started deliveries to car rental service provider Hertz against its huge 100,000-vehicle order announced last year. According to Uber, the Hertz deal is its "largest-ever expansion" of EVs on a mobility platform in North America, reports The Verge. There have been more than 5 million Tesla rides drivin...
15K Uber drivers riding rented Tesla cars in US
15K Uber drivers riding rented Tesla cars in US
Source: IANS
29/06/2022 2:35:00 PM
Uber dismisses claim that it planned to exit Indian market Uber on Thursday refuted a report that claimed the ride-hailing major planned to exit the Indian market and held discussions with potential buyers to sell its India business. Bloomberg reported that the US-based company explored selling the India business, but "suspended discussions after tech startup valuations cratered." In a statement shared with IANS, an Uber spokesperson said the company never explored exiting India -- not even for a minute -- and the report is "cate...
Uber dismisses claim that it planned to exit Indian market
Uber dismisses claim that it planned to exit Indian market
Source: IANS
23/06/2022 4:53:27 PM
Key News - Upgrad, GE Energy Financial Services, Ford, Uber, Disney, Adani Group By ARETE Securities Key News Edtech unicorn Upgrad doubles valuation with $225-mn funding round An education technology unicorn built by a cable TV-era entrepreneur almost doubled its valuation after raising $225 million in fresh funding, balking a frosty global venture capital environment. India’s UpGrad Education Pvt, founded by Ronnie Screwvala, increased its valuation to $2.25 billion in the round that included billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provi...
Key News - Upgrad, GE Energy Financial Services, Ford, Uber, Disney, Adani Group By ARETE Securities
Key News - Upgrad, GE Energy Financial Services, Ford, Uber, Disney, Adani Group By ARETE Securities
Source: ARETE Securities Ltd
16/06/2022 9:58:10 AM
Key News - Uber, Bank of India, Aditya Birla Fashion and Retail, Adani Group, Rupa & Company By ARETE Securities Uber hires Namit Jain as India senior director; to lead core platform head Ride-hailing company Uber on Tuesday announced that it has hired Namit Jain, as a new Senior Director, Engineering, to lead its data, core infrastructure and platform teams in India. Jain will head a team of engineers working to bolster the company's core platform and leverage data to improve efficiencies in Bengaluru's new office.   BOI Q4 net profit rises 142.3% to Rs 606 cr on margin improvemen...
Key News - Uber, Bank of India, Aditya Birla Fashion and Retail, Adani Group, Rupa & Company By ARETE Securities
Key News - Uber, Bank of India, Aditya Birla Fashion and Retail, Adani Group, Rupa & Company By ARETE Securities
Source: ARETE Securities Ltd
25/05/2022 9:43:05 AM
Key News - Tata Motors Ltd, Uber, Novelis Inc, WeWork, Netflix, Delhivery Ltd, Marks and Spencer Reliance India Pvt Ltd By ARETE Securities Key News Tata Motors expands EV range, launches Nexon EV MAX at Rs 17.74 lakh Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ...
Key News - Tata Motors Ltd, Uber, Novelis Inc, WeWork, Netflix, Delhivery Ltd, Marks and Spencer Reliance India Pvt Ltd By ARETE Securities
Key News - Tata Motors Ltd, Uber, Novelis Inc, WeWork, Netflix, Delhivery Ltd, Marks and Spencer Reliance India Pvt Ltd By ARETE Securities
Source: ARETE Securities Ltd
12/05/2022 10:12:28 AM
Uber's grocery delivery biz grows 10%, Q-Com big opportunity: CEO As quick commerce (Q-commerce) gains momentum, Uber's new verticals businesses, which includes grocery, alcohol, convenience, and other non-restaurant efforts, grew nearly 10 per cent (on-quarter) in Q4 2021, reaching the best month ever in December. According to Uber CEO Dara Khosrowshahi, the ride-hailing major continues to have a strong lead in grocery and other verticals. "We're working to build on that lead with new Quick Commerce offerings and we're intentionally ...
Uber's grocery delivery biz grows 10%, Q-Com big opportunity: CEO
Uber's grocery delivery biz grows 10%, Q-Com big opportunity: CEO
Source: IANS
10/02/2022 12:34:33 PM
Uber launches new audio recording option for rides, drivers Ride-hailing major Uber has introduced a new in-app safety feature that will allow drivers as well as riders to record audio during trips. Initially, the firm announced a feature called Audio Recording in Latin America as a way to make people using Uber there feel more safe. The feature is now available in more than a dozen countries throughout Latin America, including Brazil and Mexico. "To help protect privacy, the audio file is encrypted and stored on the rider and driver's ...
Uber launches new audio recording option for rides, drivers
Uber launches new audio recording option for rides, drivers
Source: IANS
7/12/2021 11:25:04 AM
Uber hit with $2.4 bn net loss in Q3 as rides return to normal Ride-hailing company Uber witnessed wider losses to the tune of 2.4 billion dollars in the third quarter (Q3), owing to a drop in the value of its investment holdings and particularly in China-based online mobility firm Didi. For the third quarter of 2021, Uber reported a net loss of 2.4 billion dollars or 1.28 dollar per share, compared to a loss of 1.1 billion dollar or 0.62 dollar per share in the year-ago period. The net loss was partially offset by unrealised gains related to the r...
Uber hit with $2.4 bn net loss in Q3 as rides return to normal
Uber hit with $2.4 bn net loss in Q3 as rides return to normal
Source: IANS
5/11/2021 11:47:01 AM
Uber aims for 50,000 Teslas on its platform by 2023 Ride-hailing company Uber is acquiring 50,000 Tesla vehicles to rent to its drivers as part of an ambitious plan to electrify its fleet in the US by 2030. The ride-hailing company is working with US-based rental car company Hertz, which announced that it had ordered 100,000 Tesla vehicles. The move comes as car companies and transportation providers around the world are coming under regulatory pressure to phase out gas-powered vehicles in favour of those that produce zero emissions, rep...
Uber aims for 50,000 Teslas on its platform by 2023
Uber aims for 50,000 Teslas on its platform by 2023
Source: IANS
28/10/2021 11:10:32 AM
Uber to let office staff work up to half their time from anywhere -source  Uber Technologies Inc will let employees work half their hours from wherever they want as part of its revamped return-to-office strategy, the transport app company plans to announce on Tuesday, according to a person familiar with the matter. In one of the most flexible policies offered yet by a big U.S. tech company as the COVID-19 pandemic eases, Uber plans to say that those working in offices need to spend at least 50% of their time there. But unlike many other companies the pol...
Uber to let office staff work up to half their time from anywhere -source
Uber to let office staff work up to half their time from anywhere -source
Source: Reuters
29/06/2021 4:50:37 PM
Uber hiring 250 engineers in India to expand tech, product teams Ride-hailing major Uber on Wednesday announced to hire nearly 250 engineers for its Bengaluru and Hyderabad-based teams, as the company expands operations for its engineering and product work in the country. Uber said that it has started to reach out to prospective candidates for building new teams and adding to existing ones, including Uber infrastructure, Eats, Marketplace, Risk and Payments, Uber for Business (U4B), marketing and advertising platforms. "Our teams in Hyderabad an...
Uber hiring 250 engineers in India to expand tech, product teams
Uber hiring 250 engineers in India to expand tech, product teams
Source: IANS
9/06/2021 12:51:57 PM