Carlyle must be hoping that some of Uber’s magic valuation dust rubs off on Addison Lee. The investment has been difficult for the private equity firm. Uber Technologies Inc.’s initial public offering next week will be a bittersweet moment for private equity giant Carlyle Group and its London minicab firm Addison Lee Holdings Ltd. Uber […]
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 […]
Lyft is beefing up its driver background check process with two new features it says are intended to “[improve] the safety and security of [its] platform.” It today announced continuous background checks and enhanced identity verification, both of which will roll out in the coming days to weeks. “The safety of the Lyft community is […]
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 […]
Ever try and get an Uber at rush hour and find that prices have surged? Or see the price of an Uber change within minutes? Well, thanks to AI and data it’s because the app assumes you’ll pay the surged price. And you know what? We usually do. As annoying as surge pricing may be […]
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 […]
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 […]
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 […]
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 […]
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 […]
