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 […]

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 […]

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 […]

Uber lays off 400 as cost-cutting efforts ramp up – gpgmail

[ad_1] Uber is laying off about one third of its 1,200-person strong marketing department in an effort to slash costs and make operations more efficient following its public debut and first quarter losses of $1 billion. The layoffs were first reported by The New York Times. About 400 people in Uber’s marketing department were laid […]