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Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber sold a larger-than-expected $1.2 billion of bonds rated in the lowest tier of junk this week. The proceeds of the bonds will be used to help fund its $3.1 billion purchase of Dubai-based ride-hailing company Careem, Uber’s biggest competitor in the Middle East region.

FutureCar Staff 2019-09-13 15:30 PT

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

​The saga between Uber and Waymo over the theft of trade secrets continues on. On Tuesday, the U.S. Department of Justice filed criminal charges accusing former Google engineer Anthony Levandowski for stealing trade secrets from the company’s self-driving car subsidiary Waymo and taking them to rival Uber Technologies Inc.

Eric Walz2019-08-27 11:50 PT

Uber is Eyeing a Dormant Pittsburgh Area Airport to Build Autonomous Vehicle Test Site

Uber is Eyeing a Dormant Pittsburgh Area Airport to Build Autonomous Vehicle Test Site

According to recent documents filed in Pennsylvania, ride-hailing giant Uber is seeking approval to build a private autonomous vehicle test site at the dormant Campbell Airport in South Fayette Township, about 15 miles southwest of Pittsburgh.

Eric Walz2019-08-23 11:40 PT

 Uber to Offer Helicopter Rides Between New York City & JFK Airport

Uber to Offer Helicopter Rides Between New York City & JFK Airport

Ride-hailing company Uber announced it will offer helicopter rides from Manhattan to nearby John F. Kennedy International Airport beginning this summer. The service is called “Uber Copter” and begins on July 9 in New York City.

Eric Walz2019-06-06 12:23 PT

Uber Launches Electric Bike Service in London with JUMP

Uber Launches Electric Bike Service in London with JUMP

Uber customers in London will be able to rent an electric bike right from the Uber app. The ride-hailing company is running a pilot program making 350 e-bikes available to rent in the city.

Eric Walz2019-05-24 11:39 PT

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Ride-hailing giant Uber will list its shares tomorrow on the New York Stock Exchange in one of the most anticipated IPO’s in recent history. However, on the eve of Uber’s IPO, its chief rival Lyft is sitting on the sidelines as its stock falls to the lowest level since its own IPO in March.

Eric Walz2019-05-08 19:01 PT

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially becoming one of the largest U.S. IPO’s since Chinese e-commerce giant Alibaba went public in 2014 and raised $25 billion.

FutureCar Staff 2019-04-26 13:36 PT

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Ride-hailing company Uber is preparing to sign a deal to sell a minority stake in its autonomous vehicle unit Uber ATG ahead of next month’s IPO. The deal would allow Uber to retain operational control of ATG while reducing its cash burden.

Eric Walz2019-04-17 17:14 PT

Uber Introduces a Voucher Program that Allows Businesses to Buy Rides for Their Customers

Uber Introduces a Voucher Program that Allows Businesses to Buy Rides for Their Customers

Ride-hailing giant Uber announced today its rolling out a new program called “Uber Vouchers” that allows businesses to offer free or subsidized Uber rides to customers. The program is targeting at businesses as a way to bring in more customers.

FutureCar Staff 2019-04-09 14:35 PT

Uber Expands Ride Pass to 20 More U.S. Cities

Uber Expands Ride Pass to 20 More U.S. Cities

Uber riders looking to pay a monthly fee for discounted rates for rides with the ride-sharing service don’t need to be in Los Angeles, Miami, Denver, Austin, or Orland, as the company expanded its subscription service to other cities.

Vineeth Joel Patel2019-03-31 07:00 PT

Report Claims Uber’s Autonomous Car Program Was Going Through $20 Million per Month

Report Claims Uber’s Autonomous Car Program Was Going Through $20 Million per Month

In order to reach its lofty goals, Uber’s self-driving arm was burning through $20 million a month – all in the name of developing technology for autonomous vehicles.

Vineeth Joel Patel2019-03-14 06:00 PT

Uber Adds Public Transportation Options to its Ride-Hailing App

Uber Adds Public Transportation Options to its Ride-Hailing App

Uber is advancing its mission to provide people easy access to mobility. The ride-hailing giant announced it is adding public transportation options to its app for the first time. Beginning today in Denver, riders will be able to use to the Uber app for public transportation options.

Eric Walz2019-01-31 13:49 PT

Why is Uber Importing 8,000 Electric Bikes From China?

Why is Uber Importing 8,000 Electric Bikes From China?

Uber is poised to for a major expansion and will begin offering more e-bike options directly from its app for riders in U.S. cities. Shipping records show that Uber imported about 8,000 e-bikes to the U.S. this month alone.

FutureCar Staff 2018-12-24 11:00 PT

Uber Gets Approval to Resume Testing its Self-Driving Vehicles in Pittsburgh

Uber Gets Approval to Resume Testing its Self-Driving Vehicles in Pittsburgh

​Uber received approval from the state of Pennsylvania to resume self-driving car testing on public roads this week following a deadly accident in Arizona in March. Uber said that when does resumes testing, it would do so with two employees in the front seat, enable an automatic braking system at all times, and more strictly monitor safety employees.

FutureCar Staff 2018-12-18 17:39 PT

Uber to Raise Prices in London to Help Drivers Switch to EVs

Uber to Raise Prices in London to Help Drivers Switch to EVs

With some help from riders, Uber is looking to make the switch to having all-electric vehicles in London.

Vineeth Joel Patel2018-10-27 15:00 PT

Lyft Hits Major Milestone, Completes 1 Billion Trips

Lyft Hits Major Milestone, Completes 1 Billion Trips

While that’s a good marker for Lyft, the ride-hailing company still lags behind Uber, its main rival, which surpassed 10 billion trips earlier this July.

Vineeth Joel Patel2018-09-24 08:00 PT

Uber in Talks to Buy Dubai-based Ride-Hailing Rival Careem for Around $2 Billion

Uber in Talks to Buy Dubai-based Ride-Hailing Rival Careem for Around $2 Billion

Ride-hailing company Uber Technologies Inc is in talks to buy Dubai-based rival Careem Networks FZ for around $2 billion to $2.5 billion, Bloomberg reported on Monday, citing people familiar with the matter.

FutureCar Staff 2018-09-17 13:09 PT

Toyota Investing $500 million in Uber to Develop Driverless Cars

Toyota Investing $500 million in Uber to Develop Driverless Cars

Uber’s struggling self-driving program is about to get some new life, thanks to a $500 million investment from Japan’s Toyota Motor Corp. On Monday, Reuters reported that Toyota and Uber will work together on the development of self-driving cars, citing sources familiar with the matter. The equity investment will help advance both Toyota and Uber’s autonomous driving technology.

Jeremy Carlton2018-08-27 15:57 PT

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

With Uber vehicles clogging city streets and the company itself being blamed for increasing traffic in some cities, the company is taking action. Uber is planning an emphasis on electric scooter and e-bikes instead of cars in cities, according to Uber CEO Dara Khosrowshahi.

Eric Walz2018-08-27 12:26 PT

New York City Votes to Limit the Number of Uber & Lyft Vehicles

New York City Votes to Limit the Number of Uber & Lyft Vehicles

On Wednesday, New York became the first major American city to limit the number of for-hire drivers. The city council voted to halt new vehicle licenses for ride-hailing services and establish minimum pay rules for drivers. New York will cap the growth of the services for one year, while the city studies the booming ride-hailing industry.

Paul Young2018-08-09 17:32 PT

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