Why Uber Splurged on a $170 Million Investment as It Laid-off Thousands
Uber led a $170 million investment round in micro-mobility firm Lime just hours after announcing it was laying off 3,700 employees.
Lyft
Lyft Stock Is Plunging – It’s Only a Matter of Time Until Google Gobbles It Up
Google always should have had its eye on Lyft, and now that Lyft’s stock has been devastated, Google is in a position to buy.
Coronavirus Pandemic Exposes the Gig Economy for the Flawed Industry That It Is
Gig workers get a raw deal at the best of times. During the coronavirus pandemic, they’re suffering even more than usual. Will they get help?
Lyft Is Becoming Lean and Mean, So Why Is the Stock Dropping?
Investors may be missing the forest from the trees. Lyft’s layoffs were selective, affecting sales and marketing divisions. The company reportedly plans on hiring 1,000-plus employees this year.
Lyft Co-Founder Talks ‘Undervalued’ Stock. Insiders Then Make Millions Hitting Sell
Just last week Lyft co-founder was bullish on the stock. The sell-off by the insiders has netted millions of dollars. Lyft shares are currently on the rebound from last month’s record low. On the day that Lyft (NASDAQ: LYFT) co-founder and President John Zimmer suggested that the stock was a buy, insiders at the ride-hailing … Read more
California Politicians Heroically Cut Jobs and Hike Taxes with Anti-Uber Bill
A controversial new bill targeting ridesharing companies goes into effect in January 2020 in California. The bill brings benefits for drivers classified as ‘contractors’ by companies like Uber and Lyft. The bill could, in theory, prohibit some drivers from working due to regulations. As per usual, the government is using its regulatory power to destroy … Read more
Airbnb Isn’t Just Any Unicorn About to IPO. It Actually Makes Money
The newest stock market unicorn to announce its IPO plans is Airbnb. The short-term rental company, which has exploded in popularity over the past few years, announced that it may seek to file for its initial public offering next year. Its most recent fundraising round resulted in a valuation of $35 billion. Airbnb Justifies Its … Read more
California AB5 Threatens to Permanently Kill Lyft & Uber
The first major regulatory assault on rideshare is about to crash headlong into Lyft and Uber, courtesy of California bill AB5. California Bill AB5 Could Kill Rideshare The California legislature appears certain to pass AB5, which would effectively force Lyft and Uber to reclassify drivers from independent contractors to employees. Governor Gavin Newsom has publicly … Read more
Uber’s Wheels Are Coming Off amid a $1 Billion Loss
Mega-unicorn Uber reported earnings, or rather losses, on Thursday that demonstrate why hype doesn’t always work in a company’s favor. Let’s hit the headline numbers and explain what they mean for Uber’s stock. Solid Growth Across the Board Just like its rival, Lyft, Uber saw a significant increase in gross bookings. That metric was up … Read more
Uber and Lyft Threaten Duopoly, Rideshare Customers Cry Foul
Lyft Chief Financial Officer Brian Roberts claims that losses the company suffered in 2018 were very likely the “peak” with better times around the corner. On a call with investors, Roberts said that an increase in revenue per rider was behind Q2 earnings completely smashing Wall Street expectations. Third-quarter sales, as well as full-year sales, … Read more