The Amazonification of Uber

Image Credits: Uber It’s been six months since Uber hosted Go, Get, a global smorgasbord of product reveals and features that covered everything from booking party buses and voice ordering for Uber Eats to linking travel plans to Gmail and skipping the food lines at sports stadiums. The product reveals aren’t just about creating new revenue streams …

Lyft co-founder talks earnings, layoffs, and competition with Uber

Lyft Co-Founder John Zimmer joins Yahoo Finance Live to discuss the company’s latest quarterly earnings, the sell-off in the stock, the outlook for profitability and growth, recent mass layoffs, competing for market share with Uber, and the future of autonomous vehicles. Video Transcript [BUZZING] – Lyft stock is downshifting after the company posted slowing revenue growth …

Uber shares surge on solid profit forecast as rideshare recovery defies inflation

Nov 1 (Reuters) – Uber Technologies Inc (UBER.N) on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 13%. With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi …

Uber stock surges after earnings report shows 72% revenue jump

Uber (UBER) announced its Q3 earnings before the opening bell on Tuesday, missing on expectations for gross bookings and reporting greater losses per share than Wall Street had anticipated. Revenue, however, rose 72% year-over-year. Shares were up nearly 13% when the market opened. Here are the most important numbers from the report compared to what analysts were …

Uber to Let Marketers Target Riders by Destination

Ride-hailing company Uber Technologies Inc. wants to help marketers target consumers with ads based on where they have been and where they are going. Uber announced the new capability as it rolled out its mobility media division, offering ads across its ride-hailing app for the first time. These ads will be available in select markets at launch. …

Uber partners with Leafly for marijuana delivery in ‘milestone’ for cannabis industry

Uber is partnering with Seattle-based company Leafly to deliver cannabis in Toronto. It’s the first time cannabis delivery is available on a major third-party delivery platform. “It marks not only a new milestone for Leafly, but a huge milestone for the cannabis industry,” Dave Cotter, Leafly chief product officer, told GeekWire. Uber Eats users in Toronto …

Federal gig worker proposal tanks Uber, Lyft and DoorDash stocks

The stock prices of Uber, Lyft and DoorDash slid on Tuesday after the Department of Labor announced proposed changes to how workers should be classified. The prospective guidance is intended to “combat employee misclassification,” the federal agency said in a statement. Soon after, Uber’s share price dropped by more than 10% to $24.61, while Lyft’s tanked more than …

Uber & Lyft Crater On Biden Proposal That Could Lead To Employee Status For Millions Of Gig Workers

Shares of Uber and Lyft tumbled on Tuesday, falling by double digits and adding to the market’s gloom, after the US Department of Labor announced a proposed rule change that would change the way that it determines if workers can be classified as employees or independent contractors.  The Department of Labor said in a statement that it believes …

In Major Win for Gig Workers, Uber Agrees to Pay New Jersey $100 Million for Mischaracterizing Drivers as Contractors

Uber may have built its hailing empire, in part, by notoriously skirting past local laws and regulations, but at least one state’s finally forcing the company to pay up. On Tuesday, Uber agreed to pay New Jersey $100 million in back taxes over claims the company misclassified thousands of drivers as independent contractors between 2014-2018. That mischaracterization, according …

Bringg and Uber enter delivery experience partnership in France

Delivery management platform provider Bringg has partnered with Uber Direct, an on-demand white label delivery service from Uber, to improve the customer delivery experience in France. The partners provide local enterprises with access to the courier network for last-mile deliveries, helping them offer convenient delivery options to their consumers. The collaboration aims to allow Uber Direct France to …