Uber commits $200 million to Uber Freight expansion in bet on trucking and Chicago – gpgmail

[ad_1] Uber Freight is establishing its headquarters in Chicago as part of Uber’s broader plan to invest more than $200 million annually in the region, including hiring hundreds of workers. Uber said Monday it will hire 2,000 new employees in the region over the next three years, most of which will be dedicated to Uber […]

Uber has surveyed some drivers on small loans, suggesting financial products are coming – gpgmail

[ad_1] Back in June Uber went on a hiring spree in New York, hiring at least 100 fintech-oriented tech workers to ostensibly look at creating products to increase loyalty and engagement among users and drivers, including things like banking. Cue a flurry of speculation. It now looks like Uber is taking baby-steps towards building such […]

SoftBank-backed Getaround is raising $200M at a $1.5B+ valuation – gpgmail

[ad_1] Getaround, a used car marketplace and winner of gpgmail Disrupt New York Battlefield 2011, will enter the unicorn club with a roughly $200 million equity financing. The deal values Getaround, founded in 2009, at $1.7 billion, according to an estimate provided by PitchBook. Getaround declined to comment, citing internal policy on “funding speculation.” “Getaround […]

Didi Chuxing to launch self-driving rides in Shanghai and expand them beyond China by 2021 – gpgmail

[ad_1] Didi Chuxing will begin picking up ride-hailing passengers with self-driving cars in Shanghai in just a few months, according to company CTO Zhang Bo (via Reuters). The plan is to roll out autonomous pick-ups in Shanghai first, starting in one district of the city, and then expand the program from there – finally culminating […]

Rwanda to phase out gas motorcycle-taxis for e-motos – gpgmail

[ad_1] The government of Rwanda will soon issue national policy-guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos. The country’s president Paul Kagame previewed the plan last week. “We will find a way to replace the ones you have now. We urge taxi-moto operators to help us when the phase-out process […]

On-demand parking startup SpotHero raises $50 million – gpgmail

[ad_1] SpotHero, the Chicago-based company that has developed an on-demand parking app, has raised $50 million in a Series D round led by Macquarie Capital. Union Grove Venture Partners participated in the round, along with existing investors including Insight Venture Partners, Global Founders Capital, OCA Ventures, AutoTech Ventures and others, according to the company. SpotHero […]

SoftBank reportedly plans to lend employees as much as $20 billion to invest in its VC fund – gpgmail

[ad_1] SoftBank has a plant to loan up to $20 billion to its employees, including CEO Masayoshi Son, for the purposes of having that capital re-invested in SoftBank’s own Vision venture fund, according to a new report from the Wall Street Journal. That’s a highly unusual move that could be risky in terms of how […]

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs – gpgmail

[ad_1] Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and […]

Uber lost more than $5B last quarter – gpgmail

[ad_1] Uber has disclosed earnings for the second time since becoming a public company, reporting revenues of $3.16 billion on losses of $5.2 billion for the second quarter of 2019. Uber (NYSE: UBER) closed up more than 9% Thursday at $42.98 per share, just below its $45 IPO price, but took a nose dive more […]

SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion – gpgmail

[ad_1] Fair, the vehicle subscription startup backed by SoftBank, is loading its executive team with veterans in the tech, venture and automotive industries as it seeks to build out its Uber leasing program and expand beyond North America. Fair.com today announced three key hires to lead the development of its car subscription app, financing department […]