DÜSSELDORF, Germany — Guido Goebel stopped driving for Uber three years ago when the company abandoned his hometown, the German city of Düsseldorf, after a battle with regulators. Several weeks ago, the ride-hailing service reached out to him again. Uber told Mr. Goebel that it was returning to Düsseldorf and offered him a bonus of 500 euros, or about $560, if he hit certain driving targets. “It’s good. I’m busy,” Mr. Goebel, who had taken work driving patients to medical appointments, said from behind the wheel of a Mercedes-Benz C-Class. “People are happy Uber is here.” Düsseldorf is the start of an effort by Uber’s chief executive, Dara Khosrowshahi, to reboot its business in Germany ahead of a planned initial public offering next year. When Uber re-entered this city of 600,000 last month, it was its first expansion in Germany since 2015, when it left every town except Berlin and Munich. In 2015, Uber’s … [Read more...] about Needing Growth, Uber Returns to Germany. This Time on Best Behavior.
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Uber’s Losses Continue Ahead of Initial Public Offering
SAN FRANCISCO — Uber is still working to stem its losses ahead of going public next year. The ride-hailing company said on Wednesday that it lost $1.07 billion in the third quarter, more than in the prior period and slightly less than in the same period a year ago, as it has invested heavily outside of its core business in areas such as bicycles, scooters and freight shipments. At the same time, Uber’s growth appears to be slowing. The company’s revenue rose 38 percent in the third quarter from a year ago to $2.95 billion, down from a gain of 51 percent in the prior quarter. Gross bookings, which is what Uber earns before paying commissions to drivers and delivery people, totaled $12.7 billion, up 34 percent from the previous year. The report card comes as Uber is preparing for an initial public offering next year, in what would likely be one of the biggest technology offerings. The I.P.O. is set to be a litmus test for other highly valued private tech companies, such … [Read more...] about Uber’s Losses Continue Ahead of Initial Public Offering
Uber’s Driverless Cars Return to the Road After Fatal Crash
SAN FRANCISCO — Uber said its autonomous vehicles returned to public roads on Thursday, nine months after one of its self-driving cars killed a pedestrian in Tempe, Ariz. But Uber’s driverless vehicles are operating at drastically reduced speeds and in less challenging environments than before, the company said, as it eases back into testing and tries to ensure people’s safety. “We will continue to prioritize safety and proactively communicate our progress until we’ve built a self-driving system that lives up to the promise of making transportation safer and more affordable for everyone,” Eric Meyhofer, who leads Uber’s autonomous vehicle unit, said in a statement. Uber said it received permission on Monday from the Pennsylvania Department of Transportation to test its driverless cars again on public roads in Pittsburgh. The company said it planned to put fewer than five cars on the road on Thursday, and slowly add to that over time. Each … [Read more...] about Uber’s Driverless Cars Return to the Road After Fatal Crash
Uber invests millions to build flying taxis in France
This story was originally published May 24, 2018. (CNN Business)Uber wants to build flying taxis in France. The company announced Thursday that it plans to invest €20 million ($23.4 million) in developing an all-electric vertical takeoff and landing aircraft in France over the next five years. It will open a new research and development center in Paris, its first technology hub outside of North America. "France is a perfect home for our next step forward with its strong history of research and development, world class engineers and a unique role in aviation worldwide," Uber said in a statement. The company already has R&D offices in Pittsburgh, Toronto, and San Francisco. They focus mainly on Uber's self-driving technology, but have also been working on Uber's Elevate flying car program. Read More The Advanced Technologies Center in Paris will open later this year and focus solely on flying cars. It will conduct research into airspace management, real-time … [Read more...] about Uber invests millions to build flying taxis in France
Why Careem is bigger than Uber in the Middle East
Story highlights Ride-haling company Careem is Dubai's answer to Uber Valued at over $1bn it's one of just two 'unicorns' in UAE The company has expanded to 10 countries Dubai (CNN)It's called Careem and it's the ride-hailing company that's bigger than Uber in the Middle East. It's also one of only two billion-dollar start-ups -- or "unicorns" -- in the region. Based out of Dubai, it was founded by Mudassir Sheikha, from Pakistan, and Swede Magnus Olsson. With a user base of six million customers and a network of 150,000 drivers, Careem has become the region's largest ride-hailing platform. Its success is down to a combination of a head start over Uber, local knowledge, and home-field advantage. With its first cars taking to the streets in 2012, one year before Uber hit the market in Dubai, Careem is well suited to the local market. In a region where accurate addresses and reliable maps aren't always available, Careem built its own mapping system to make it easier for drivers … [Read more...] about Why Careem is bigger than Uber in the Middle East