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Danielle Abril / Fortune:
By 2023, Uber Eats may own 25% of the forecasted $191B global food delivery market, but DoorDash and GrubHub make more in sales, and DoorDash is growing fastest   —  Investor sentiment in Uber is rapidly sinking.  Since last week's initial public offering, the company's stock has nosedived …
May 18, 2019, 8:30 PMIn context
Eric Feng:
VC-backed consumer startups are outperforming enterprise startups at IPOs in this decade, going public more often at higher valuations, compared to the 2000s   —  On May 10th, ride hailing juggernaut Uber Technologies went public raising $8.1 billion at an initial valuation just over $75 billion.
May 18, 2019, 8:10 AMIn context
Bradley Tusk / Financial Times:
The key value of Uber was its relentless innovation and promise to change the world, which the board forgot when it focused on stability in replacing Kalanick   —  When Uber hired Dara Khosrowshahi in 2017, the company board was solving the wrong problem.  —  The ride-hailing app was in the midst …
May 17, 2019, 3:50 PMIn context
Mark Kleinman / Sky News:
Sources: Amazon in talks to invest a substantial amount in a $575M fundraising round in UK-based Deliveroo, bringing Deliveroo's total raised to $1.5B+   —  The world's biggest internet company by market value is close to buying a stake in Deliveroo, Sky News can reveal.
May 16, 2019, 5:45 PMIn context
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

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