Techmeme

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New York Times:
Sources describe Uber's IPO process and the setbacks that led Uber's $120B pre-IPO valuation floated by bankers to fall to its current market cap of $69B   —  Last September, Uber's top executives were pitched by some of Wall Street's biggest banks, Morgan Stanley and Goldman Sachs.
May 15, 2019, 7:40 PMIn context
Josh Constine / TechCrunch:
Uber is rolling out new options for Uber Black, its luxury car service, including a “quiet preferred” mode, help with luggage, and preferred temperature   —  Tired of chatty drivers?  Uber is finally giving users its most requested feature: an in-app way to request minimal conversation during your ride.
May 14, 2019, 8:35 PMIn context
Andrew J. Hawkins / The Verge:
In an advice memo, the National Labor Relations Board says Uber drivers are independent contractors, not employees; a federal judge ruled similarly last year   —  Another sign that the gig economy is here to stay  —  Uber drivers are independent contractors, not employees of the ride-hailing company …
May 14, 2019, 7:45 PMIn context
Bloomberg:
Uber's CEO, in email to staff Monday, acknowledged the rocky trading debut, noting Facebook and Amazon's initial post-IPO difficulties; stock ends day down 10%+   —  Uber CEO Dara Khosrowshahi, in an email to staff Monday, acknowledged Uber's rocky trading debut, while at the same time saying …
May 13, 2019, 2:05 PMIn context
Elad Gil / Elad Blog:
As online markets have grown 10X in the last two decades, more $1B-$10B+ software startups will exist, and startups can grow faster than ever   —  Over the last few years the number of people and businesses online has ballooned.  Spend on the Internet has grown rapidly as you can now reach billions …
May 13, 2019, 2:00 PMIn context
Kirsten Korosec / TechCrunch:
Uber pilots a new PIN feature at the Portland Airport that gives riders a one-time 6-digit PIN in an effort to speed up pickup times and reduce congestion   —  Uber is piloting a new PIN feature at the Portland International Airport that will give riders a one-time six-digit numeric code …
May 13, 2019, 10:25 AMIn context
Biz Carson / Forbes:
A look at Uber's pitch deck in 2008, where it projected to reach 5% of the top US cities with $20M in profits, and, in the best case scenario, $1B in revenues   —  ber's founders in 2008 thought the best-case scenario for what they were calling UberCab was to hit $1 billion in revenue.
May 13, 2019, 8:35 AMIn context
Andrew J. Hawkins / The Verge:
Study: between 2010 and 2016, traffic congestion in San Francisco grew by about 60%, with Uber and Lyft vehicles accounting for more than half of that increase   —  Between 2010 and 2016 traffic congestion in San Francisco increased by about 60 percent — and Uber and Lyft are responsible for more than half of that increase
May 12, 2019, 6:55 PMIn context
Dan Primack / Axios:
Uber's IPO got caught in a perfect storm of negative events on Friday, some of its own making, some, like Trump's China tariffs, outside its control   —  Uber's IPO stalled out yesterday, stunning both Silicon Valley and Wall Street.  —  Details: The ride-hail giant priced shares near the bottom of their range on Thursday night.
May 11, 2019, 3:55 PMIn context
Alison Griswold / Quartz:
Benchmark made billions on an early-stage Uber investment, but it isn't clear if late-stage investors like SoftBank or Saudi Arabia's PIF made serious profit   —  We've known practically since Uber started dispatching rides that one day it would make a lot of people very rich.
May 10, 2019, 8:35 PMIn context

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