The electric scooter start-up, Bird, has acquired $275 million in Series D funding round led by CDPQ and Sequoia Capital at a valuation of $2.5 billion with the company aiming to improve its unit economics.
Tesla is acquiring AI startup DeepScale. Forrest Iandola, DeepScale’s CEO, said on LinkedIn that he joined Tesla’s Autopilot team, which has lost many executives and engineers to companies like Nvidia, GM Cruise, Google, Lyft, and more.
The Libra Association director granted an interview with a French news firm where he gave a bit more insight into the progress made so far including that the Libra will launch by the second half of 2020 with many members as well.
Self-driving car company, Voyage, has pulled in additional funding in a Series B round. The CEO has said that the funds will be directed not only at increasing the company’s staff strength, but also the quality of its service.
Uber recently sent out an in-app survey to some drivers that indicated the company is starting to build a “new financial product” designed to help Uber drivers “in a time of need.”
California’s state Senate is set to vote on Assembly Bill 5 that, if passed, could be financially ruinous for Uber and Lyft, which stock is already experiencing hard times.
Rakuten Inc. reported an unexpected quarterly loss, hit by the depressed value of its investment in ride-hailing firm Lyft Inc. and heavy spending on a new wireless service.
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.
Lyft (LYFT) stock climbed 13% after hours but gave up early gains after the company announced share lock-ups would expire on August 19, 2019, rather than a previously scheduled date in September.
WeWork Cos. is looking to go public in September, people familiar with the company’s plans said, in what’s expected to be the second-biggest initial public offering of the year. The only bigger IPO would be the one of Uber.