Uber Technologies Inc Add to portfolio

UBER'S popular rideshare and food delivery apps went into global meltdown earlier today, with users in Australia, US, Canada, Europe, New Zealand and India complaining of issues. The problems varied from passengers being unable to book cars, drivers being unable to collect payment for their trips or see where they were picking up customers, and meals that never arrived. Some also complained of being charged for trips that never happened. The issue lasted about three hours and appeared to mostly affect andriod phone users, however some iPhone users also complained of issues. "My app would say a trip request and I tap on it, instantly it was like magic gone... I understand things happen but the new app has caused nothing but problems, including navigation," New York driver Amanda Cady wrote.

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UBER'S popular rideshare and food delivery apps went into global meltdown earlier today, with users in Australia, US, Canada, Europe, New Zealand and India complaining of issues. The problems varied from passengers being unable to book cars, drivers being unable to collect payment for their trips or see where they were picking up customers, and meals that never arrived. Some also complained of being charged for trips that never happened. The issue lasted about three hours and appeared to mostly affect andriod phone users, however some iPhone users also complained of issues. "My app would say a trip request and I tap on it, instantly it was like magic gone... I understand things happen but the new app has caused nothing but problems, including navigation," New York driver Amanda Cady wrote.

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You have viewed all your free articles this monthSubscribe. Or subscribe with your Google account and let Google manage your subscription.Subscribe. St. Louis police say an Uber driver robbed a customer by using a translator app to demand cash. Police say the man left his phone in the Uber and arranged to meet the driver early Sunday to retrieve it. The St. Louis Post-Dispatch reports when they met, the driver displayed a pocket knife and used the app to demand cash.

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Now That Uber and Lyft Have Filed to IPO, What Happens Next? (Bloomberg) -- The decision by Uber Technologies Inc. and Lyft Inc. to file confidentially for initial public offerings sets in motion two of the most-anticipated tech IPOs in many years and will determine whether the two money-losing businesses can withstand wider investor scrutiny. Bankers have told Uber it could be worth $120 billion on the public markets, people familiar with the matter have previously said, potentially making it the largest IPO next year and one of the five biggest of all time. The move opened the door for the SEC to review the material and provide feedback before Uber and Lyft publicly file their S-1s, which will likely include potentially sensitive financial information, risk factors, and other material details about the loss-making companies for prospective investors. While Uber Chief Executive Officer Dara Khosrowshahi has said publicly that the company is targeting an offering in the second half of 2019, he has also considered moving up that date, people familiar with the matter have said, potentially creating a race to beat Lyft’s plan for a listing as soon as March or April.

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(AP) - Uber could owe tens of millions of dollars to Georgia if the state is successful in a legal battle. The Georgia Department of Revenue has billed Uber $22.1 million for sales taxes and other charges that it maintains are owed by the company. The Atlanta Journal-Constitution reports that ride-hailing services do not pay sales taxes in Georgia. But the department says they should under Georgia law. The taxi industry says companies like Uber and Lyft should pay sales taxes, just like they do.

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Lyft on Thursday said it had confidentially filed a draft registration statement with the Securities and Exchange Commission for an initial public offering that could come early next year. While the ride-hailing company is still much smaller than Uber, its earlier entry to the stock market ahead of other competing firms will give it a key advantage, according to a Wall Street analyst. "Lyft has the clear early-mover advantage, and they will definitely get the benefit of the doubt," Santosh Rao, the head of research at the merchant bank Manhattan Venture Partners, told Business Insider. Rao, who specializes in late-stage, pre-IPO company research, says the most accurate comparison is to platform companies, such as Etsy or Alibaba. Now that the race to go public could be ending, the battle between Uber and Lyft could turn in to a race for profitability.

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FILE - In this Jan. 31, 2018, file photo, a Lyft logo is installed on a Lyft driver's car in Pittsburgh. Lyft still hasn't caught up to Uber in the rapidly growing ride-hailing market, but it's ahead in the race to sell its stock on the public market where the two companies could potentially raise billions to help finance their expansion. The San Francisco company has taken the first step toward listing its shares on the U.S. stock market by filing confidential documents for an initial public offering. Getting a head start with its IPO will allow give Lyft a "first-mover advantage" over Uber and help steer investor expectations about the growth and moneymaking potential of ride-hailing services, said Rohit Kulkarni, managing director of SharesPost, which focuses on privately held companies going public. Although Lyft still ranks a distant second, it has been gaining market share during the past two years as Uber faced a backlash following revelations of rampant sexual harassment within its ranks , a cover-up of a major computer break-in , allegations of high-tech thievery and a fatal collision involving one of its robotic cars.

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Every day companies consume billions of lines of open source software through their supply chains as they build exciting new products and services. "At Facebook, we believe open source software accelerates the pace of innovation in the world. We are proud to support the OpenChain project, and, by doing so hope to make the open source supply chain more predictable and efficient so the community can focus on solving challenges of speed, complexity, and deploying open source software at scale," said Michael Cheng, Facebook Open Source. "Google is a strong believer that working together and being engaged with open source communities creates a ripple effect for the broader industry," said Chris DiBona, Director, Open Source, Google. "We are very excited to see three innovative tech leaders join the project and welcome their experience to our Governing Board," said Shane Coughlan, OpenChain General Manager.

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FILE - In this Jan. 31, 2018, file photo, a Lyft logo is installed on a Lyft driver's car in Pittsburgh. Lyft still hasn't caught up to Uber in the rapidly growing ride-hailing market, but it's ahead in the race to sell its stock on the public market where the two companies could potentially raise billions to help finance their expansion. The San Francisco company has taken the first step toward listing its shares on the U.S. stock market by filing confidential documents for an initial public offering. Getting a head start with its IPO will allow give Lyft a "first-mover advantage" over Uber and help steer investor expectations about the growth and moneymaking potential of ride-hailing services, said Rohit Kulkarni, managing director of SharesPost, which focuses on privately held companies going public. Although Lyft still ranks a distant second, it has been gaining market share during the past two years as Uber faced a backlash following revelations of rampant sexual harassment within its ranks , a cover-up of a major computer break-in , allegations of high-tech thievery and a fatal collision involving one of its robotic cars.

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(Reuters) - Ride-hailing company Lyft Inc beat bigger rival Uber Technologies in filing for an initial public offering that will test investor appetite for high-profile but loss-making technology companies. The company, which was last valued at about $15 billion, did not specify the number of shares it was selling or the price range for the offering in a confidential filing with the Securities and Exchange Commission on Thursday. Uber is expected to pursue an IPO next year that could value it at about $120 billion, while home-renting company Airbnb Inc, valued at $31 billion, is also seen listing in 2019. High-profile tech unicorns such as Dropbox Inc DBXC.O and Spotify (SPOT.N) dominated the U.S. IPO landscape this year, but the recent turmoil in financial markets due to escalating trade tensions between the United States and China could dampen enthusiasm for offerings from Lyft and Uber.

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