Ride-hailing company Uber Technologies is set to price its initial public offering on May 9, in a deal that would value the company at up to $90 billion, according to Reuters.
In the company's draft prospectus filed on April 26, Uber said its meal delivery service, Uber Eats, has more than 220,000 restaurants on its books, across 500 cities globally as of the end of 2018. The total value of meals delivered through Uber Eats topped $2.6 billion for the quarter ending December 31, making it the largest takeaway service in the world outside of China, the company says.
In February, India's Economic Times reported that Uber was in talks to swap its food delivery business in the country for a stake in local rival Swiggy, citing people familiar with the matter. The newspaper added that Uber would take a 10 percent slice of the Bengaluru-based company, last valued at $3.3 billion. The company has not commented on the report.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber Wants to Be the Uber of Everything—But Can It Make a Profit?E-bikes over cars. Parking lots replaced by parks. Drone delivery. This is Uber's vision for the future—with the company at the center. Now it just needs to make money. Uber was a very stupid name selection ( I know what it means)... Anything is better than having to pay drivers When you give what customer what in your own style and at a price that is favourable to the middle class margin. Profits come calling.
Source: WSJ - 🏆 98. / 63 Read more »
Ride-hailing drivers in New York to strike ahead of Uber IPOUber Technologies Inc's drivers in New York will go on strike next week sho... They start their own ride hailing company when? They have a huge problem coming up with employees masquerading as subcontractors, I'd guess that any ruling not in their favor might bankrupt them.
Source: Reuters - 🏆 2. / 97 Read more »
Rideshare drivers plan strike in major cities as Uber expected to go publicDrivers plan to strike on May 8th, one day before Uber is expected to go public, to demand better wages, clear policies on tips and fares, and benefits like paid time off. People can call taxis As well they should. Uber rakes drivers. Taxis had the right formula & Uber completely undermined it & the driver is left responsible for the car & upkeep with a millennial customer that doesn’t even tip.
Source: NBCNews - 🏆 10. / 86 Read more »
15 cities where Uber and Lyft drivers make the most moneyUber and Lyft drivers earn the most monthly revenue in San Francisco, New York City, and San Jose, JPMorgan Chase finds.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Uber and Lyft drivers plan to strike and rally ahead of Uber's IPORideshare drivers are planning to strike and rally again — this time, ahead of Uber's impending IPO Should be for the whole day
Source: CNN - 🏆 4. / 95 Read more »
These 2 Advertising Startups Offer Uber Drivers Yet More Side HustleUber drivers could earn up to $400 more each month by displaying advertising for two new startups created by college students. When future historians describe the decline and fall of America part of the analysis will be about business start ups whose entire “innovation” was more ads in more places. 🤮
Source: Forbes - 🏆 394. / 53 Read more »
Warren Buffett 'looked' at Uber investment 18 months ago, but passedMore than a year ago Warren Buffett looked into investing in ride-sharing company Uber, which is going public this year at a valuation above $80 billion. Uber is a cloud user with an army of disgruntled minimum wage drivers who don’t understand the actual cost of wear & tear. The business model for an Uber driver resembles a laundromat where equipment replacement drains profits while giving a false sense of profitability
Source: CNBC - 🏆 12. / 72 Read more »
Why an MBA isn’t worth it, according to this self-made multimillionaire Uber investorAngel investor Jason Calacanis has invested in six unicorn companies, but never an MBA. Here's why he says it's often not worth it. MakeIt This is absolutely ridiculous MakeIt Of course an MBA isn't worth it, neither bill Gates, not Zuckerberg, nor Steve Jobs had bachelor degrees. They ALL dropped out of college!!!!! MakeIt Starting 8 different $25k businesses without an education probably isnt worth it either. I recouped 100% of the cost of my MBA within 24 months. Beware of provocative headlines!
Source: CNBC - 🏆 12. / 72 Read more »
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO everBerkshire Hathaway Chairman and CEO Warren Buffett explains why he passed on Uber's initial public offering. Nothing like watching 3 white Banksters on 'cnbc' while futures are down sharply. Buffet is a criminal. 😎😍 Pretty sure people should educate themselves on investments and not just count on what Warren is doing...justathought
Source: CNBC - 🏆 12. / 72 Read more »