Shares of Spotify Technology opened yesterday at US$165.90, and was up nearly 26 percent from a reference price of $132 set by the New York Stock Exchange late on Monday. The direct listing of Spotify’s shares on the New York Stock Exchange was seen as a test case for other companies tempted to list without […]
“Cars Are To Uber What Books Are To Amazon” – Khosrowshahi
Dara Khosrowshahi plans to expand into buses, bikes and all forms of transportation, he said at a conference, outlining his long-term vision for Uber for the first time since being named chief executive last August. “Cars are to us what books are to Amazon,” he said — a reference to Amazon’s origins as a bookseller.
Softbank Urges Uber To Focus On Recovering Market Share In US And European Markets.
Uber’s largest shareholder has called for the ride-hailing company to focus on recovering market share in the US and growing in European markets. Rajeev Misra, a board director of Japanese technology conglomerate SoftBank — which becomes Uber’s biggest shareholder on Friday — told the Financial Times that the transportation group had a faster path to […]
Younger Buyers Showing Less Interest In Owning Cars Than Older Generations
Automakers have gathered in Detroit this week for the US industry’s big show of the year, after a 2017 where sales topped 17m vehicles domestically for the third year in a row — marking the best three-year stretch in the motor industry’s history. But there are warnings of tougher times on the road ahead as […]
The EU’s Highest Court Has Ruled That Uber Is A Transport Company
The EU’s highest court has ruled that Uber is a transport company, opening the ride-hailing app to tougher regulation in Europe’s 28 member states. The European Court of Justice said Uber was a traditional taxi firm, shifting its legal status from a digital company and giving it less freedom from regulation in the EU’s single […]
Uber Accused Of Operating Sophisticated Unit Dedicated To Stealing Trade Secrets.
Uber has been accused of operating a sophisticated unit dedicated to gathering competitive intelligence and “stealing trade secrets”. The allegations led to a delay in the high-profile trial between the ride-hailing group and Alphabet’s self-driving unit, Waymo. Separately, Uber’s adjusted losses widened to $743m during the third quarter of this year.
Will Caribbean Entrepreneurs Take On Bike-Sharing Service Mobike, the “Uber of bikes”?
Caribbean entrepreneurs take note. China’s latest export to the world is its bike-sharing service called Mobike. Known as the “Uber of bikes”, Mobike is one of China’s most promising start-ups and are the product of a whole host of new startups, aggressively competing for territory and investment. The way it works is simple enough in […]
Uber Drives Into Trinidad But Not Without The Usual Controversy
Uber, the high-tech transportation company based in the United States, launched its long-awaited service in Trinidad & Tobago but not without the usual controversy that follows the company and service. The T&T Ministry of Works and Transport in a statement issued this week, said it was looking into the legality of Uber’s operations, as under […]
Putin’s 18% VAT Stalls Uber Technologies
A law signed by Russian President Vladimir Putin in July 2016 to levy an 18 percent value-added tax on electronic goods and services provided by mostly United States based global internet giants’ starting in 2017 has begun to bite. Among the many global internet giants impacted including Apple, Alphabet, Google, Microsoft and Netflix is Uber […]
