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Wednesday, October 23, 2019

Tag: ride-hailing

Grab to raise billions thanks to region’s flourishing internet economy

Value of online transactions, from retail to ride-hailing, expected to reach US$300 bil by 2025.

Putrajaya steps up probe into complaints over Grab’s monopoly

The investigation follows multiple complaints accusing Grab of monopolistic practices following the merger with Uber.

Grab to compete with Gojek in digital payments by merging with...

Indonesia’s digital payments industry is a booming sector where many don’t have bank accounts and they increasingly use smartphones for transactions.

Taxi company boss threatens protest over Gojek

Shamsubahrin Ismail says it is a step backwards for people and the nation if the government decides to go on with the proposal to introduce motorcycle ride-hailing service Gojek in Malaysia.

Uber stock falls after US$5.2 bil loss, sales miss estimates

Uber reports second-quarter adjusted sales that fell short of estimates and posts a net loss of US$5.24 billion.

Lyft: Higher fares will help shrink losses for the year

Lyft’s second-quarter loss increased 12% to US$197 million, but the price increases should help narrow losses.

Uber to cut about 400 employees, citing ‘mediocre results’

Uber can’t keep up with its growth and has to downsize a section of the company.

Uber targets expansion in fast-growing West African markets

In much of sub-Saharan Africa there are low levels of personal car ownership and rapidly expanding populations which makes ride-hailing a popular option for public transport.

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.