Uber CEO Takes More Control by Absorbing the COO’s Role

Uber CEO Dara Khosrowshahi is taking greater charge of the ride-hailing company. His first order of business? A management shakeup. The CEO sent an email to employees on Friday announcing the departure of Chief Operating Officer Barney Harford and Chief Marketing Officer Rebecca Messina. The news comes one month after the company went public and […]

Uber Eats Gains Momentum as Ride-Hailing Growth Slows

Uber’s food delivery service, Uber Eats, is gaining momentum as the ride-hailing giant bleeds cash after its initial public offering earlier this year. The company said on Thursday that it had lost $1 billion in the first quarter, while growth in its ride-hailing business continued to slow. But in food delivery, Uber’s growth has accelerated […]

Uber’s First Earnings After IPO May Reveal More About Its Scooter Ambitions

Uber and Lyft are spending big money to ramp up their electric scooter businesses even as they face rising scrutiny about their lack of profits. They’ve hired big teams, bought thousands of scooters, and are continuing to invest in creating their own scooter designs. But despite disappointing recent initial public offerings and super-sized losses, the […]

Uber Eats Its Way to New Revenues Amid Post-IPO Profitability Concerns

Investor sentiment in Uber is rapidly sinking. Since last week’s initial public offering, the company’s stock has nosedived, dropping from the initial price of $45 per share last Thursday to $38 on Tuesday. One reason for the poor stock performance, according to analysts, is an unclear path to profitability. But ride-hailing aside, there may be […]

Saudi Arabia’s Wealth Fund Is Underwater On Uber’s IPO

Buy low and sell high, traditional investing wisdom dictates. So far, that lesson hasn’t worked out for one major Uber investor: Saudi Arabia’s sovereign wealth fund. That fund, under a new directive to diversify the company’s financials outside of oil, bought its shares of the ride-sharing giant when they were priced at $48.77 apiece–above Uber’s […]

Here’s What Analysts Are Saying About Uber’s IPO

Uber’s long-awaited initial public offering has analysts mulling over one big unanswered question: Does Uber have a realistic path to profitability? The ride-hailing company’s public stock listing on Friday comes amid a wave of blockbuster tech IPOs, including one by rival Lyft nearly two months ago. Uber’s financial details, revealed in the run up to […]

On the Eve of Its IPO, Uber Can’t Shake a Lingering Legal Question

Last month, the EU Parliament approved new rules to protect workers in the gig economy. It says companies engaging “on-demand, voucher-based and platform workers” must allow them to refuse work and be paid for canceled work; they must honor workers’ right to take jobs with other companies, pay workers to train, and give workers limited […]