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Tuesday, June 25, 2019

Tag: ride-hailing

Grab mulls becoming a bank

A move into banking would represent both a shift for Grab and fresh competition for Singapore’s banking landscape.

Uber picks Melbourne as test site for flying taxi service

Uber will begin test flights of the pilotless aircraft in Melbourne and US cities Dallas and Los Angeles in 2020 before commercial operations begin in 2023.

Uber lowers barrier to drive for those with no car or...

This programme is designed specifically to attract drivers who may not even have enough credit to get a traditional car loan of any kind.

Uber and Lyft to turn the wheels on car ownership

Labour trends like working remotely or from home had contributed to the reduced interest in cars.

Uber raises US$8.1 bln in IPO priced near bottom of range

Uber sells 180 million shares for US$45 each, having marketed them for US$44 to US$50 apiece.

What Uber’s IPO tells us about SoftBank’s big ride-hailing bet

One analyst crunched the numbers to find plenty of promise: He figures Masayoshi Son has already made close to US$9 billion on paper.

Lyft tries to assure investors that losses will drop in 2020

Lyft anticipates sales of US$3.28 billion to US$3.3 billion for 2019, which is above estimates.

Grab seeks another US$2 billion funding in expansion drive

Grab expects to invest a significant portion of the funds in Indonesia.

Uber looks to pick up Careem in US$3 billion deal

Careem, founded in 2012, has a larger presence in the Middle East, North Africa, Pakistan, and Turkey operating in 98 cities there compared to Uber's roughly 23 locations.

Grab, Go-Jek set to hurt as Indonesia fix ride-hailing fares

The move is aimed to protect the interests of drivers and consumers said the director general of land transportation at Indonesia’s Ministry of Transportation.

Hyundai invests US$300 million to help India’s Ola battle Uber

The money from Hyundai's subsidiary Kia Motors will largely be used to help Ola increase its electric vehicle fleet.

Uber settles driver lawsuit for US$20 million

The case was filed in August 2013 and stated Uber classified drivers as contractors to avoid paying them minimum wage and providing benefits.

Grab considers raising more funds after US$4.5 billion financing round

Grab continues to see strong interest from global investors.

Uber, Lyft to offer drivers shares in stock market listing

Uber Technologies was reportedly planning such awards for a 'significant' portion of its 3 million drivers.

China’s Didi to restructure following passenger murders

2,000 employees, or 15% of current staff, would be laid off as part of Didi's reorganisation effort.

Malaysia tops social media penetration in Southeast Asia, says report

It is also ranked fifth in the world, with Malaysians spending an average of two hours and 58 minutes on social media each day.

Second South Korea taxi driver in ride-sharing protest suicide

The 64-year-old, surnamed Im, parked near the US embassy in central Seoul moments before his vehicle was engulfed in flames.

Philippines says no to Go-Jek in Manila

The move puts a wrench in Go-Jek's plan to corner a bigger share of the Southeast Asian e-hailing market, currently dominated by rival Grab.

Vietnam’s newest ride-hailing app ‘be’ gets funding ahead of launch

The company did not reveal the quantum of funding or who the investors are.

Uber incites IPO frenzy, while Lyft pitches its focus

The IPO stories for both companies are starting to emerge.

Lyft launches first step to take company public

The IPO will take place once the Securities and Exchange Commission (SEC) has reviewed the sealed documents.

Daimler seals ride-hailing deal with China’s Geely

The two companies will enter the hotly-contested ride-hailing market in China, where top provider Didi Chuxing is used by hundreds of millions of people and muscled out Silicon Valley-based Uber in 2016.

Philippine watchdog fines Grab, Uber for rushed merger

The ride-hailing firms violated conditions set by the Philippine Competition Commission (PCC), including combining their businesses and Uber taking a board seat in Grab during the antitrust body's review of the merger.

Uber boosts junk-bond offering to US$2 billion

The ride-hailing firm had already gathered enough orders for the bond sale last week after a series of calls with investors.