In just 6 years, Grab has managed to attract $6 billion in funding. According to sources familiar with the matter at hand, SoftBank Group Corp is nearing a deal to invest nearly $500 million in Grab. The potential deal is part of a nearly $1 billion funding that Grab aims to tap in its latest…
Its investors include KKR & Co, AllianceBernstein and Baillie Gifford. Lyft has a market share of 35% in the U.S. Following a funding round in which it raised $600 million, Lyft Inc said the its latest funding round was led by Fidelity Management which saw the ride-hailing firm’s valuation jump to $15.1 billion in little…
For Uber London is a key market since of the roughly 50,000 drivers in Britain, 40,000 operate there. On Monday, Uber is set to go to court as it ramps up its efforts to overturn a decision to strip it of its license in London following a court decision that ruled it was unfit to…
Sony Corp is the latest tech firm vying for market share in Japan’s highly regulated ride-hailing market and is set to partner with Daiwa Motor Transportation and 4 other domestic Japanese taxi firms for the same. On Tuesday, Japan’s Nikkei newspaper reported, Sony Corp is to become the latest tech firm which is jockeying for…
Uber aims to debut a flying taxi service in LA sometime in 2020. On Wednesday, Uber stated it has struck a deal with NASA to develop software for managing “flying taxi” routes in the air along the lines of ride-hailing services on the ground. This marks a milestone in Uber’s history since this is its…
Determined to not lose its license in London and in the UK, the ride services company has appointed a banking executive to better engage its UK team with the country’s authorities. In a strategic step, Uber has appointed Laurel Powers-Freeling, as its chairman for UK, its most important European market, as it readies itself for…
The new tactical approach has already starting paying dividends: the Norwegian government has recommended to repeal certain provisions related to taxis while the EFTA surveillance authority has ruled in Uber’s favor saying the Norway’s restrictions on taxi licenses were illegal. On Monday, Uber stated it would suspend UberPOP, its unlicensed service in Oslo and wait…
The Vector Institute’s governing board includes Google, Uber and many of Canada’s largest banks. The institute is being set up as a global hub for artificial intelligence. The Vector Institute, which the Canadian government set up earlier this year in a bid to help establish Toronto as a global hub in artificial intelligence with more…
Through Waze and Waymo, Alphabet’s strategy of positioning itself as a key player in the transportation industry becomes clear. In what is seen as the largest ever rollout of Alphabet-owned Waze, starting from next week, the navigation app will expand its carpool service throughout California, including the key car hub of Los Angeles. The ride…
Although Uber did not give any reason for Jones’ exit from the company, the fact that he quit before seven months is telling. Uber Technologies took a major hit with its president Jeff Jones leaving the company for greener pastures. Jones was a key figure since being a marketing expert, he was hired to help…
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