Ridesharing
Here’s the latest about the ridesharing industry, its trends, implications, and more.
Featured
WeRide raises $200m
WeRide, as per its reporting on Wednesday, stated that it has raised $200 million through a long-term, mega-investment in Chinese bus maker Yutong. WeRide is one of the most – funded startups that has bought differentiation into the market by introducing autonomous driving...
Ridesharing
Lyft’s business is gradually recovering from the effects of Covid-19
Lyft released its financial results for the third quarter of 2020 on Tuesday, beating analyst's expectations. Recovery has been observed in the San Francisco-based ride-hailing company's sales from pre-pandemic days, but the revenue is still half of what it was last year. The ridesharing company has reported $499.7...
Ridesharing
Proposition 22: Uber and Lyft drivers will remain Contractors, not Employees
Uber and Lyft have finally celebrated victory regarding the ongoing California labor law, as Proposition 22 — the most expensive ballot measures in California — has been approved by the court. The ballot had its facts put straight up, revolving around the core point that...
Startups
HopSkipDrive raises $22 million in latest round of funding
HopSkipDrive, a Los Angeles based transportation company for children, has received a $22 million in funding in the latest round. The round, largest yet, saw participation from 15 investors which include Cyrus Capital Partners, State Farm Ventures, Upfront Ventures, and FirstMark Capital. The...
Business
Uber founder Travis Kalanick is leaving board of directors; sold all shares
Aqsa T -
Uber Technologies, Inc. has announced that co-founder and ex-CEO Travis Kalanick will be resigning from the company's Board of Directors. He will stay active until December 31. Last week, Travis Kalanick sold 90%, worth around $383 million, of his shares in Uber, per a public filing with the...
Startups
African fintech startup Opera’s OPay received $120 million in funding from Chinese investors
Incubated by Opera, famous for its web browser, Africa-based startup OperaPay, widely known as OPay, has gained $120M from the Chinese investors in series B round. Along with PalmPay, OPay is now one of the most funded fintech startups in Africa. Series B investors included Chinese local life...
Business
Uber to pay $650 million employment tax bill to New Jersey
Uber considers its drivers as contractors and not as employees because it does not pay the drivers. Instead, they receive 20% from each trip. New Jersey Department of Labor and Workforce Development, however, is not convinced with that argument. The department has levied...
Latest News
Harris S -
In 2024, several AI systems encountered significant gaffes. Chatbots provided misleading information on sensitive topics, and AI generated racially insensitive images. These incidents demonstrated the potential for serious consequences when...
