Uber Technologies Inc Add to portfolio

Both ride-sharing companies are unprofitable and have seen $6.4bn and $5.27m, respectively, erased from their valuations since their market debuts, with shares down about 2.2% and 27% overall as of Monday’s open. Indeed, both stocks are volatile due to their inability to convince investors of their paths to profitability. What metrics can traders look out for when weighing up a stock amid such an increasing amount of cash-burning companies looking to go public? Up to Monday’s close, Funding Circle’s stock has fallen a massive 72.5% since it went public on the London Stock Exchange on 2 October 2018, with its share price slumping down to 121p. Funding Circle share price vitals, Yahoo Finance, 17 July 2019. As in increasing number of tech unicorns prepare to float, can Funding Circle’s performance lend itself as an example for what investors should look out for in an overvalued startup?

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U.S. Australian watchdog says Uber Eats will amend 'unfair' contract terms. (Reuters) - Australia's competition watchdog said Uber Technologies Inc's food delivery service Uber Eats will amend its contract terms to accept more accountability for delivery issues, easing the burden on restaurants. "We consider these (current) terms to be unfair because they appear to cause a significant imbalance between restaurants and Uber Eats," the Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said on Wednesday. The ACCC said Uber Eats will amend terms to clarify that restaurants will only be responsible for matters within their control such as incorrect orders.

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Uber launches in Hamburg, now live in six German cities. FRANKFURT (Reuters) - Uber said on Wednesday it was launching ride-hailing services in Germany's second city, Hamburg, as it seeks to achieve scale in a country where it has met resistance from local taxi firms, city governments and the courts. The $75 billion platform, which connects drivers and passengers in 100 European cities, is launching its low-cost UberX option in Hamburg along with Uber Taxi, a traditional taxi service, and Uber Green, which uses electric vehicles. Hamburg is the sixth German city in which Uber Technologies Inc has rolled out its full range of services, following a pledge last year by CEO Dara Khosrowshahi to make a fresh start https://www.reuters.com/article/us-tech-germany-uber/uber-ceo-focused-on-responsible-growth-seeks-fresh-start-in-germany-idUSKBN1FB1ZA in Europe's largest economy and seek responsible growth.

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Fighting to stave off a bill that could force them to treat their workers as employees, Uber and Lyft this week deployed an unusual weapon: a promise of extra pay to drivers willing to lobby on their behalf. Calling for changes to a bill that would allow drivers to continue working as independent contractors while being afforded some of the protections typically reserved for employees, the ride-hailing companies recruited drivers to rally outside the state Capitol on Tuesday ahead of a Senate labor hearing on the bill. The coalition confirmed it paid gig workers — including Uber and Lyft drivers — to cover the costs of travel and expenses for the day and said the amount paid varied but did not exceed $100. In addition to what the coalition offered drivers, Uber sent drivers an in-app notification offering them a $15 lunch voucher and inviting them, their family “and anyone you know who also has a stake in maintaining driver flexibility” to the rally to talk “about the issues.” Separately, a Lyft spokesperson said the company offered $25 to drivers to cover parking, if needed.

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Taxi-hailing firm Uber has rolled out a new rider quality system that will see it blacklist Kenyan riders who consistently receive poor evaluation from its drivers. Uber’s new policy follows a myriad of complaints from drivers over unruly customers who make their job harder to execute. This latest policy, the US-based firm said, will see badly behaved customers receive a warning and be guided on how to improve their rating. However, if they continue to get bad feedback from drivers after warnings, the next step will be to temporarily suspend the account for one week and if there is still no improvement, face the possibility of full deactivation. “We have recently updated our community guidelines which extends the same behavioural standards to the riders that we have for drivers and we will be notifying a small number of riders that their behaviour needs to improve or their access to the app could be removed — which is already done with drivers,” said Uber Country Manager Brian Njao.

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Berenberg downgraded its rating on Just Eat [JE] shares from “buy” to “hold” on Tuesday and slashed its target price to a below-average 600p from 880p, citing the threat of aggressive competition from Uber [UBER] and Amazon-backed [AMZN] Deliveroo. Deliveroo’s and UberEats’ willingness to put market share before earnings risked throwing a spanner in the “winner-takes-it-all” narrative that had once propelled Just Eat’s share gains, Berenberg said, with the stock now a “risky investment”. Later in May, the announcement that Amazon was injecting $575m into Deliveroo – a deal currently under scrutiny by the UK’s Competition and Markets Authority (CMA) – knocked off over 8% from Just Eat’s share price. Analysts at the brokerage downplayed the impact of Amazon’s planned investment in Deliveroo, taking solace in Just Eat’s vastly greater market share and its strong advantage in rural areas.

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The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. Uber finally sets diversity, inclusion and equity goals. While Uber is still predominantly white and Asian, the company has made notable headway in the representation of black and Latinx people among its employees. As for those goals, Uber says that in the next three years, it aims to increase the percentage of women at levels L5 and higher (i.e. With Waze, you can find out the amount you’ll need to pay — sourced from its community of user-drivers, rather than direct from the official toll road operators. Amperity says that in 2018, its annual recurring revenue grew 355% year-over-year. Although the startup only launched in 2016, it’s already signed up an impressive roster of customers, like Starbucks, Gap Inc., TGI Fridays and Planet Fitness.

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Uber offers riders more legroom, less chatting at a price. NEW YORK — Uber passengers can now get a more spacious ride and a less talkative driver — if they’re willing to shell out a few extra dollars. In the early days of ride-hailing, when drivers for Uber and its main U.S. rival Lyft began picking up riders in their personal cars, riders were often chatty, asking the drivers lots of questions. Lux cars are driven by drivers with a 4.85-star rating or above, and cost more than a standard Lyft ride or the company’s less-expensive Shared ride. But riders do not have the option of requesting a quiet, conversation-free ride.

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That's one of 11 things you need to know from the past week: VCs have struck a very profitable vein so far in 2019. Cashing in This week, we released the 2Q 2019 edition of the PitchBook-NVCA Venture Monitor, which gathers data on every aspect of US VC to determine the latest trends and forces shaping the industry. And by far the biggest takeaway was the remarkable spike in exit value—a leap so large it's almost laughable. The $138.3 billion registered during the past three months is in a whole different league. And it takes 2019's overall VC-backed exit value to date up to $188.4 billion, with little sign that the IPO market will be slowing down anytime soon. Annual PE-backed exit value in the US is sitting at just $110.1 billion so far in 2019, on pace to fall far short of an average of nearly $400 billion over the past four years.

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