Taxi & FHV

The Black Car Fund may have swerved out of its lane

The Black Car Fund may have swerved out of its lane

On a desolate block of Long Island City sits a vacant warehouse, its entrances padlocked and doorbell defused. A FedEx tag for an undelivered package, dated 5/23, has been stuck to a barred doorway for at least 11 months. Visible through filthy second-floor windows is a small sign that reads simply The Black Car Fund. Created(…)

Taxi unions march in Argentina to protest Uber

Taxi unions march in Argentina to protest Uber

Drivers from Buenos Aires’ powerful taxi unions will take to the streets on Thursday to begin two days of protests against ride-hailing apps including Uber, which they claim operate illegally in the city. The march on Thursday is expected to attract thousands of people. It will culminate at Plaza de Mayo, a historic focal point(…)

Lyft IPO could raise $2.1 billion at $18.5 billion valuation

Lyft IPO could raise $2.1 billion at $18.5 billion valuation

Ride-hailing startup Lyft hopes to raise up to $2.1 billion in its IPO as it launches a roadshow to drum up investor support, Venturebeat reports. Starting this week, the company will begin meeting directly with large investment funds to answer questions and ease concerns that the company is bleeding massive amounts of red ink, even(…)

Uber hires more IPO underwriters as it prepares to go public: sources

Uber hires more IPO underwriters as it prepares to go public: sources

Ride-hailing startup Uber Technologies Inc has hired a string of investment banks to its syndicate of initial public offering underwriters, as it ramps up preparations for a stock market debut, people familiar with the matter told Reuters last Tuesday. Smaller rival Lyft Inc is racing to list in the stock market at the end of(…)

How Via benefits from new regulations that hurt Uber and Lyft

How Via benefits from new regulations that hurt Uber and Lyft

The ride-hail market’s smallest player has emerged as the biggest winner 
under the city’s new regulations: In New York City, by dispatched trips UBER: 70.2% LYFT: 20.2% JUNO: 5.1% VIA: 4.6% Source: Taxi and Limousine Commission The past couple of months have been deflating for the city’s hired-car industry, but not for Via. The Manhattan-based pooled-ride(…)

Taxis get Access to survive

Taxis get Access to survive

Yellow cabs with trained drivers now can pick up passengers who otherwise would use notoriously slow Access-a-Ride buses. From foreclosures on taxi medallions to a congestion surcharge in Manhattan that yellow-cab operators say could devastate their business, the taxi industry has had no shortage of bad news in recent months. But there has been one(…)

‘Please meet your TNC-rides in the garage’ San Francisco Airport says

‘Please meet your TNC-rides in the garage’ San Francisco Airport says

Rideshare companies Uber and Lyft together made 10 million pickups and drop-offs at SFO in 2018, creating more congestion than ever. Now the airport is trying to manage the chaos. The two companies are now making a combined 1,200 pickups and drop-offs every hour at SFO. In response, the airport put out a statement last(…)

Uber reportedly raising $1B in deal that values self-driving car unit at up to $10B

Uber reportedly raising $1B in deal that values self-driving car unit at up to $10B

Uber is in negotiations with investors, including the SoftBank Vision Fund, to secure an investment as large as $1 billion for its autonomous vehicles unit. The deal would value the business at between $5 billion and $10 billion, according to a Tuesday report from The Wall Street Journal. Uber declined to comment. The news comes(…)

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