Uber

Uber, which is expected to go public sometime next year, just released its Q3 2018 financial results. Uber’s net losses increased 32 percent quarter over quarter to $939 million on […]

Uber could receive a valuation of as high as $120bn in its upcoming initial public offering, almost double the price-tag the ride-hailing company landed in August. The proposals from US […]

As a part of its safety norms, ride-sharing app Uber has announced that it will open its first technology development centre in Latin America, which will focus on safety and […]

The European Union’s top court has ruled that Uber should be regulated like a transportation service. That means the ride-sharing service must comply with tough rules that govern traditional taxi associations. Uber had argued that it’s a technology platform that connects independent drivers with passengers. The landmark ruling will require Uber to treat its drivers more like employees. The decision cannot be appealed.

Uber admitted Tuesday that hackers stole personal data belonging to 57 million customers and drivers – a fact it concealed for more than a year.
The attack, which took place in October 2016, resulted in the worldwide theft of names, email addresses and phone numbers belonging to 50 million Uber riders, according to Bloomberg, which first reported the hack.

Uber Technologies approved SoftBank Group’s offer to buy a multibillion-dollar stake in the ride-hailing company, setting the stage for one of the largest private startup deals ever and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.

Uber is to be sensationally stripped of its licence to operate in London in a huge blow to the ride-hailing firm. The firm, which is used by 3.5 million people and 40,000 drivers in London, said the licence decision "would show the world that, far from being open, London is closed to innovative companies".

A Transport for London (TfL) spokesman said: "Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications."

Uber CEO and co-founder Travis Kalanick tells The New York Times that he has resigned. Kalanick, who just last week announced he was taking an indefinite leave from the company he co-founded, was forced out after investors decided the company needed a change in leadership, according to a letter sent to Kalanick and obtained by the Times.

“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement given to the Times.