'We introduced cash payment here, which was a global first, said Uber India President
Cab aggregator expands service to three more cities, claims it has cut down number of km by 7 million since inception, saving 300,000 litres of fuel
The service was launched in the country about 6 months ago, which is currently available in Delhi & Bengaluru
US taxi-hailing firm raises the money from Saudi Public Investment Fund to support global expansion
In its quest to build a global empire, Uber has turned to the West Asia for its biggest infusion of cash from a single investor.Uber said on Wednesday that it had raised $3.5 billion from Saudi Arabia's Public Investment Fund, the kingdom's main investment fund, in one of the largest-ever investments into a privately held start-up.The money was part of the ride-hailing giant's most recent financing round and continued to value Uber at $62.5 billion. The investment, which was months in the making, does not cash out any of Uber's existing investors.Uber, which has viewed the West Asia as an important area in its expansion, said the investment further aligned the company with Saudi Arabia as the kingdom planned to transform its economy, reducing its dependence on oil and improving employment. Until now, Saudi Arabia has not been known for venture capital investing, though some members of its royal family have made some deals. Prince Alwaleed bin Talal, for instance, has invested in Lyft,
This is the second time it has challenged local authorities after it took on the Delhi govt for denying it a licence to operate in the capital
Ola and Uber have committed to spending Rs 15,000 cr to win the taxi market
SharesPost, a broker of private technology stocks, approached investors with what seemed like an alluring offer: a potential investment in a fund that would hold Uber Technologies shares. In exchange for exposure to the high-flying ride-hailing startup, they were asked to part with at least $100,000 each and agree to hold the stake until the company goes public or gets acquired, with no vote in business decisions or visibility into its operations or finances.But SharesPost said it called off the proposed deal. The plan was to purchase as much as $10 million in preferred shares from Uber's most recent round of financing and package them in an investment fund to be sold at a premium, according to offering documents obtained by Bloomberg.SharesPost said it wouldn't pursue the transaction, citing a "lack of investor interest." "It became clear that the minimum funds would not be collected for this deal, and as a result, the sales team began to inform interested clients of this fact," Greg
The hybrid Ford Fusion converted car is mounted with various sensors to map details of the environment
Gurgaon is now the only place where Uber is offering this service. However, it said it was hopeful of growing in this category
Uber's deal with US drivers looks cheap
Agreement is Uber's latest attempt to assuage mounting concerns from regulators and drivers about the ride-hailing firm's labour model
According to attorneys for Uber drivers, the total potential damages in the case are $852 million.
Here are some interesting numbers the cab hailing app has shared in a blog post
The option has been expanded to more than 400 cities in 68 countries and regions in which Uber operates
Alipay's collaboration with Uber reflects a step forward of Ant Financial's global strategy, and the collaboration also extends to the Alipay's strategic global partners like Paytm in India
Karnataka govt says Ola and Uber are not compliant with the newly passed rules for taxi
Say they should be allowed to do so as odd-even rule is not in place; demand separate scheme for aggregators
Kejriwal warns of strong action
Around 100 vehicles operating on both the aggregators' platforms have been impounded and penalised for violating norms