Uber commits $200 million to Uber Freight expansion in bet on trucking and Chicago

Uber Freight is establishing its headquarters in Chicago as part of Uber’s broader plan to invest more than $200 million annually in the region, including hiring hundreds of workers. Uber said Monday it will hire 2,000 new employees in the region over the next three years, most of which will be dedicated to Uber Freight […]

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Uber layoffs 400 as cost-cutting efforts ramp up

Uber is laying off about 25% of its 1,200-person strong marketing department in an effort to slash costs and make operations more efficient following its public debut and first quarter losses of $1 billion. The layoffs were first reported by the New York Times. About 400 people in Uber’s marketing department were laid off across […]

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Uber’s annual flying taxi summit reveals Uber Air has a ways to go

Flying taxis are undoubtedly an exciting concept — one that Uber has put a lot of work into making a reality. In order to these electric vertical take-off and landing vehicles to become a reality, they need to have proper batteries, approval from the Federal Aviation Administration, buy-in from cities, public acceptance and, of course, […]

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Uber’s COO and chief marketing officer are out

Uber’s chief operating officer Barney Harford and chief marketing officer Rebecca Messina are stepping down, an organizational shakeup put into motion just a month after the ride-hailing company went public. CNBC first reported the departures. The departures, which CEO Dara Khosrowshahi explained in an email to employees, were prompted by his decision to more directly […]

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Bill Gates, NEO, Gigafund backing Luminous in photonics supercomputer moonshot

Luminous Computing, a one-year-old startup, is aiming to build a photonics chip that will handle workloads needed for AI at the speed of light. It’s a moonshot and yet, the young company already has a number of high-profile investors willing to bet on the prospect. The company has raised $9 million in a seed round […]

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Uber’s trading debut: who was (and wasn’t) at the opening bell

Uber finally made its debut Friday on the New York Stock Exchange, ending its decade-long journey from startup to publicly traded company. So far, it’s been a ho-hum beginning with shares opening at $42, down from the IPO price. The share price is hovering just under $44. Thirteen people, including executives, early employees, drivers and […]

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Uber adds real-time public transport data for London

From today, Uber has added public transport to its app in London, incorporating real-time information on the city’s Underground, Overground, train and bus network, as well as other trams, shuttle, river boat and the DLR’s driverless trains. Last summer the ride-hailing giant was granted a provisional 15-month license to operate in the U.K. capital — […]

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‘This is Your Life in Silicon Valley’: NYT’s Mike Isaac discusses his upcoming Uber book, Leaks from Facebook and More

Welcome to this week’s transcribed edition of This is Your Life in Silicon Valley. We’re running an experiment for Extra Crunch members that puts This is Your Life in Silicon Valley in words – so you can read from wherever you are. This is your Life in Silicon Valley was originally started by Sunil Rajaraman and […]

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Uber is paying $three.1BN to choose up Middle East rival Careem

After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has […]

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