Uber Finalizes Its Acquisition Deal with Postmates Worth $2.65 Billion
Valued at $2.65 billion, the acquisition deal with Postmates will help Uber Eats to expand its network comprising of operation in about 6000 cities across 45 countries.
Uber Stock Price Rose 3.54% Yesterday while Company Set to Cut 3,000 Jobs and Close 45 Offices
Uber stock price rose yesterday but is slightly down in the pre-market after the rideshare company decided to shut down operations in 45 offices and cut 3,000 jobs.
Uber Reaches Out to Grubhub for Takeover, GRUB Stock Jumps 29%
As per the industry report, Uber and Grubhub are reportedly in talks of possible takeover deal as Uber looks to expand its footprint in the U.S. food delivery market. This acquisition can possibly help Uber to win 55% of the market share.
Uber Stock Jumped 11% Yesterday, Rises 6% in Pre-market Despite Q1 2020 Losses of $2.9B
Uber reported one of its worst quarterly performances during Q1 2020 registering a net loss of $2.9 billion. With its business going on a tailspin due to the global lockdown, the company plans to trim 17% of its workforce this year. Uber stock price is going up.
Lyft and Uber Stocks Down 9% and 4%, Companies to Release Earnings Reports This Week
Lyft and Uber are expected to release their earnings reports this week. Which one of them will weather the COVID-19 storm? At the time of writing, their stocks are in red.
Uber and Lyft Stocks Dip 8% and 12 % Respectively Due to Coronavirus Fears
Uber (UBER) stock price is at $23.54 which is a 10.29% decline since trading started. Lyft (LYFT) stock price is at $25.29. This is an 12.82% decline since trading hours began as well.
Uber to Offload Uber Eats India to Zomato as It Aggressively Cuts Losses
By
Tolu Ajiboye
In a bid to ensure that it cuts losses on its journey to profitability, Uber is planning to sell the Indian arm of its Uber Eats business to Zomato.
Uber Plans to Increase Its Investments into Bikes and Scooters in 2020
One of Uber executives has revealed that the company plans to increase its investments into bikes and scooters next year.
Uber Loses Operating License in London over Unsafe and Fraudulent Trips, Uber Stock Is Down
By
Tolu Ajiboye
After two extensions in less than three years, authorities in London have ruled that Uber’s license to operate will not be renewed.
Ex-Uber CEO Sold Close to $1.5 Billion of Shares Shortly after Lockup Expiration
By
Tolu Ajiboye
Uber’s former CEO has been selling off large amounts of his shares, with a total figure nearing $1.5 billion.