UBER - Uber Technologies, Inc.
| Previous close | 34.68 |
| Open | 34.97 |
| Bid | 35.17 x 1000 |
| Ask | 35.21 x 900 |
| Day's range | 34.65 - 35.25 |
| 52-week range | 25.58 - 47.08 |
| Volume | 15,934,859 |
| Avg. volume | 29,610,391 |
| Market cap | 59.925B |
| Beta (5Y monthly) | N/A |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -2.95 |
| Earnings date | 05 Feb 2020 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 43.83 |
- Bloomberg
Private Equity's Mountain of Dry Powder Is a Danger Sign
(Bloomberg Opinion) -- Investors keep flocking to private equity in Asia even though returns are declining. They should take heed: Payouts are likely to get worse from here, rather than better.The hunt for yield in a low-interest world has spurred institutional investors from China Investment Corp. to Japan’s Government Pension Investment Fund to join the rush into the alternative asset class. Private equity firms founded by veterans of Warburg Pincus and KKR & Co. are seeking to raise at least $4.5 billion for new funds in China, Cathy Chan of Bloomberg news reported Thursday, in the latest sign of the region’s burgeoning appetite for nonpublic investments.New York-based KKR, meanwhile, is targeting more than $12.5 billion for its fourth Asian fund, which would surpass the record $10.6 billion raised by China’s Hillhouse Capital Group in 2018.(2) At the end of June, private equity firms in Asia were sitting on a record $361 billion of unspent capital, according to London-based market research firm Preqin.The returns haven’t lived up to the hype. Funds focused on Asia generated an internal rate of return of 12.8% last year, down from 15.5% in 2018, according to Preqin. That’s below what investors could have made outside the region: North American funds chalked up an IRR of 16.4% in 2019 while those centered on Europe returned 18%.Even brand-name private equity shops have sputtered. Hillhouse’s $10.6 billion fund saw its IRR slip by 5.16 percentage points between September 2018 and the third quarter of 2019. Over the same period, the MSCI Asia Pacific Index dropped 3.3%, according to data compiled by Bloomberg. KKR’s two existing Asian mega-funds have had varying success, with its older fund underperforming the broader market.It’s getting harder for private equity firms to realize returns by selling companies on stock markets as the world wakes up to the reality that not all hot technology startups will be IPO winners. That follows disappointing debuts for high-profile names such as Uber Technologies Inc. and Lyft Inc., along with the collapse of WeWork’s U.S. share offering last year.Much of the private-equity action in Asia has focused on China, which has also had its share of setbacks. OneConnect Financial Technology Co., a unit of Ping An Insurance (Group) Co., cut the size of its U.S. IPO by almost half last month, while Oyo Hotels is firing thousands of staff in China and India. Like WeWork and Uber, both companies are backed by Japan’s SoftBank Group Corp.The U.S.-China trade war has also had a damping effect, with some private equity-invested companies finding themselves embroiled in the tensions. Facial recognition startup Megvii Technology Ltd. delayed its IPO in Hong Kong after it was included in a U.S. blacklist cutting off its access to key American technology. Bytedance Inc., owner of the wildly popular video app TikTok, is now a subject of a U.S. national security review, and is weighing the sale of a majority stake in the unit.All that considered, it isn’t surprising that the value of private-equity backed trade sales dropped 14% to $28.5 billion last year, according to data compiled by Bloomberg, while share sales by private equity owners slumped 27% to $6.4 billion, declining for a third year to the lowest since 2013.While the U.S.-China phase one trade deal signed last week offers some hope of an improvement in conditions, money is still likely to keep piling up in Asian private equity. For one thing, there aren’t many better alternatives. Institutional investors need to diversify: They can’t keep all their funds in U.S. equities, even if these have been going gangbusters for years.But that doesn't mean individuals need to follow suit. Private equity investments are more risky because they are illiquid and take years to pay off. Smart investors should see the ever-growing piles of dry powder as a sign of danger rather than success.\--With assistance from Dani Yang and Irene Huang. (1) The Hillhouse fund is the largest devoted specificallly to Asian investing. Chinese state-backed, or policy, funds such as a $29 billion vehicle created in October to invest in the semiconductor industry are larger.To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
China’s Phoenix Tree Flat in Debut as U.S. Listings Restart
(Bloomberg) -- Phoenix Tree Holdings Ltd., the largest of four companies making their U.S. trading debuts Friday, ended its opening session unchanged after shrinking its offering and pricing its shares below a targeted range.The Chinese e-commerce company’s American depositary shares closed Friday at $13.50, the same price as in its initial public offering on Thursday. Phoenix Tree, which operates the co-living platform Danke Apartment, sold 9.6 million shares to raise about $130 million Thursday after marketing 10.6 million for $14.50 to $16.50.Phoenix Tree’s debut and initial public offerings by three other companies -- two of them based in China -- delivered mixed results as U.S. listings restarted after a holiday break.The listings followed a year in which investors were whipsawed by a landmark first half followed by a second half marred by disappointments, especially the demise of WeWork’s listing plans.Uber Technologies Inc.’s $8.1 billion listing in May was among the 95 U.S. IPOs raising $32.4 billion through June 30 of 2019, according to data compiled by Bloomberg. That compared with 87 listings raising $18.9 billion after July 1. Uber’s 23% share drop since its IPO has added to investor jitters.Phoenix Tree’s offering was led by Citigroup Inc., Credit Suisse Group AG and JPMorgan Chase & Co. Trading on the New York Stock Exchange under the symbol DNK, the company has a market value of $2.48 billion.Velocity, LizhiVelocity Financial LLC, a mortgage lender based in Westlake Village, California, sold 7.25 million shares on Thursday for $13 each -- below the marketed range -- to raise about $94 million. The shares rose as much as 9.6% Friday and closed up 3.9% to $13.51, giving the company a market value of $257 million.Shares of biotechnology company I-Mab priced its shares at $14 each, within its target range of $12 to $15, to raise about $104 million on Thursday. After initially rising as much as 13%, the shares sunk almost 11% to $12.50 on Friday, giving the company a value of $721 million.Lizhi Inc., a platform for podcasts and other audio content, fared the best of the four. On Thursday it raised $45 million, pricing its 4.1 million shares at the bottom of its marketed range. Those shares rose as much as 39% Friday and closed up 5.7% to $11.63, valuing the company at $532 million.Lizhi Chief Financial Officer Catherine Chen said in an interview that the company was aiming for long-term growth and wasn’t focused on short-term market considerations.“The specific timing is not that important,” she said.The only other listing in the U.S. this year has been Bogota Financial Corp., which raised about $57 million in its IPO Wednesday. Its shares have climbed 16% from its offer price.(Updates with closing share prices starting in second paragraph)To contact the reporters on this story: Michael Hytha in San Francisco at mhytha@bloomberg.net;Julia Fioretti in Hong Kong at jfioretti4@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, ;Lianting Tu at ltu4@bloomberg.net, Michael Hytha, Jeran WittensteinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Airbnb Revamps Corporate Governance, Tying Bonuses to Safety
(Bloomberg) -- Airbnb Inc. is laying the groundwork for a public market debut later this year, announcing a new corporate governance strategy that values safety, sustainability, diversity and accountability.The home-share startup has said it will track guest safety incidents, verify all seven million listings by December, measure its global carbon footprint and enhance employee diversity. To achieve its ambitions, Airbnb is creating a new Stakeholder Committee on the board and tying staff bonuses to safety metrics, according to a statement Friday.In addition, Airbnb has promised to be transparent, reporting progress at an upcoming Stakeholder Day that can be attended by guests, hosts, communities, employees and investors.“Building an enduringly successful business goes hand-in-hand with making a positive contribution to society,” the company said. “Increasingly, this is what citizens, consumers, employees, communities and policy makers desire -- even demand.”Airbnb has been on the defensive over safety since a mass shooting in October at a party house in Orinda, about 20 miles east of San Francisco, where five people died. Local media started to highlight the number of shootings at Airbnb rentals, and family of those slain questioned how the platform vets its guests. In December, the Wall Street Journal published an investigation showing how Airbnb employees who pushed for stricter safety measures, like requiring users to supply a government ID, were overruled by company executives who feared this could deter new guests or hosts.The company is also entangled in battles with cities around the country over regulations and has been accused of discrimination by hosts. With a $31 billion private valuation, Airbnb is poised to be one of the most high-profile market listings this year. Getting ahead of some of the concerns could help appease investors who may be wary of the unfriendly reception other tech titans, like Uber Technologies Inc., Lyft Inc. and Slack Technologies Inc. received last year.The new Stakeholder Committee will be led by Belinda Johnson, who is due to step down as chief operating officer and join the board in March. The company will also award $100 million in grants to support local projects that promote cultural heritage, economic vitality and sustainable communities and demonstrate clear local impact, according to the announcement.These new initiatives will be demanding on the company as it prepares to go public; verifying every listing by December means staff will have to work through tens of thousands of listings a day. But Airbnb says it’s just getting started.“When we first sat down to begin this work, we knew we were undertaking a difficult and serious task. We allowed ourselves to think about problems and opportunities that will take multiple teams working over multiple years to solve,” the company said. “We are nowhere near finished.”To contact the reporter on this story: Olivia Carville in New York at ocarville1@bloomberg.netTo contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Robin AjelloFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- TechCrunch
Bolt raises €50M in venture debt from the EU to expand its ride-hailing business
Bolt, the billion-dollar startup out of Estonia that's building a ride-hailing, scooter and food delivery business across Europe and Africa, has picked up a tranche of funding in its bid to take on Uber and the rest in the world of on-demand transportation. The company has picked up €50 million (about $56 million) from the European Investment Bank to continue developing its technology and safety features, as well as to expand newer areas of its business, such as food delivery and personal transport like e-scooters. The timing of the last equity round, and the company's ambitious growth plans, could well mean it will be raising more equity funding again soon.
- Yahoo Finance UK
Uber rival Bolt raises €50m from European Investment Bank
Bolt launched in London last June and is now profitable in approximately two-thirds of its global markets.
- Zacks
The Best Of CES 2020 (Revised)
It's hard to pick favorites from the broad range of things from the large number of companies showcased at CES.
- Bloomberg
Didi Rival Is Said to Seek Up to $300 Million in Pre-IPO Round
(Bloomberg) -- Chinese ride-hailing startup Dida Chuxing is seeking to raise as much as $300 million and is considering an initial public offering, escalating competition with larger rival Didi Chuxing, according to people familiar with the matter.IDG Capital-backed Dida is raising between $250 million to $300 million in a pre-IPO round that it pitched to a wide range of investors, the people said, asking not to be named because the matter is private. Dida has mulled floating on exchanges in mainland China or Hong Kong, but prefers the latter, one person said. A Dida spokeswoman declined to comment.Ride-hailing operators are grappling with dwindling investor sentiment after Uber Technologies Inc. went public last May only to see its shares tumble. Dida, which infuses social elements into its car and taxi-hailing operation, has been trying to raise capital since around the middle of last year, the people said. It’s unclear what valuation the Chinese company is targeting.In May 2015, Dida received a $100 million funding from China Renaissance Capital Investment, according to Dida’s website. In March 2017, Chinese private equity fund Nio Capital led a new round in Dida. Hillhouse Capital, IDG, JD.com and Nio Capital participated in the company’s last funding round, according to a slide deck created in August but that’s been recently circulated to investors and viewed by Bloomberg News.Dida says it became profitable last April, earning 29 million yuan ($4.2 million) in the second quarter of 2019, according to the investor presentation slides. The company generated 151 million yuan in revenue for 2018, and expects that to have jumped to 643 million yuan last year, the same presentation shows.Beijing-based Dida is a distant second to Didi in China’s ride-hailing arena but its popularity grew after two female passengers were murdered while using the services of competitor Didi. Dida operates a network of 1.2 million taxi drivers and its daily orders has surpassed 3.65 million, according to the deck.To contact the reporters on this story: Zheping Huang in Hong Kong at zhuang245@bloomberg.net;Dong Cao in Beijing at dcao59@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum Murphy, Peter ElstromFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know
Uber Technologies (UBER) closed the most recent trading day at $35.01, moving +0.49% from the previous trading session.
- Bloomberg
Toyota Makes a New $394 Million Bet on Flying Taxis
(Bloomberg) -- Toyota Motor Corp. is making a $394 million investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets.Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, SPARX Group and its own investment arm, Toyota AI Ventures. The deal, for now, makes the Santa Cruz, California-based Joby the best-funded “eVTOL” (electric vertical take-off and landing) startup in a booming category that must overcome significant regulatory hurdles and concerns about passenger safety and noise, bringing the total money it has raised to $720 million.“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said Toyota President and Chief Executive Officer Akio Toyoda. “As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life.”Over the past year, the 82-year Japanese automaker has deepened its interests in futuristic transportation technologies. Last year it backed Recogni Inc., a Silicon Valley maker of autonomous vehicle systems, and May Mobility, an Ann Arbor, Michigan-based operator of self-driving shuttle buses. At CES earlier this month, Toyota announced its intention to build a 175-acre community, or “Woven City”, at the base of Mount Fuji to serve as a showcase for self-driving cars and other innovations in transportation.Joby is an emerging player in a field of air-taxi companies that includes Airbus SE; South Korean automaker Hyundai, which recently announced plans to design and produce an air taxi with Uber Technologies Inc.; and Kitty Hawk, the brainchild of Alphabet co-founder Larry Page, which is developing an air taxi in conjunction with Boeing Co. Volocopter, a startup in Germany, is backed by Zhejiang Geely Holding Group Co., the biggest investor in Mercedes-Benz maker Daimler AG and owner of Swedish manufacturer Volvo and British automaker Lotus.In addition to announcing the funding, Joby released an image of its prototype aircraft. The vehicle, which looks like an oversized toy drone, sports six electric propellers and is capable of flying 150 miles on a single charge, at speeds of up to 200 miles per hour, the company said. It’s designed to carry four passengers and a pilot, an approach that differs from that of rivals such as Kitty Hawk, whose two-seat “Cora” vehicle is intended to fly autonomously, without an onboard pilot.Joby says it will manufacture prototypes at a facility in Marina, California, near Monterey, but plans to tap Toyota’s famous manufacturing prowess to build “highly reliable complex hardware at increased scale,” said Paul Sciarra, Joby’s executive chairman and a co-founder of Pinterest.In December, Joby and Uber announced a separate partnership to jointly introduce Joby air taxis in at least two cities, with customers booking and paying for flights via the Uber app.The most pressing challenge for Joby, which now has around 400 employees, is obtaining certification from the Federal Aviation Authority and other regulatory agencies around the world. Joby says this is a three- to five-year process that it formally began in 2018.Over the past few years, both the FAA and the European Union Aviation Safety Agency (EASA) have moved to support commercial development of air taxis and released special guidelines to regulate small aircraft, with rules that differ from those governing conventional helicopters and fixed-wing airplanes. Much work remains, said Robin Lineberger, head of the Aerospace & Defense practice at Deloitte, including creating a system to manage municipal airspace in both normal and poor weather conditions and building physical infrastructure such as mini-airports that can support frequent takeoffs, landings and aircraft recharging.“The 2023 to 2025 time frame is fairly straightforward” for small demonstrations, Lineberger said. But he looks to 2035 “as a practical date for having a ubiquitous operational fleet in the thousands—not the hundreds—with a well-established framework for regulatory approval.”Sciarra and Joeben Bevirt, Joby’s founder and CEO, say they’ve spent significant time with Toyoda in Toyota City, Japan, as well as with other Toyota executives at Joby’s headquarters on a windy, 500-acre ranch in the hills north of Santa Cruz. They would not say whether they offered them a ride on the prototype aircraft, but Bevirt said: “They’re a loyal and tenacious company and this has been a dream of the Toyoda family for a very long time.”To contact the author of this story: Brad Stone in San Francisco at bstone12@bloomberg.netTo contact the editor responsible for this story: Dimitra Kessenides at dkessenides1@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- TechCrunch
Uber kicks off adaptive electric scooter pilot in SF
Uber's JUMP has started its adaptive scooter pilot in partnership with San Francisco Bike Rentals. This is part of Uber's permit with the city of San Francisco, which requires all electric scooter operators to pilot adaptive scooter share. "We’re committed to helping improve access to transportation for everyone in San Francisco and we believe our adaptive scooters will do just that -- especially for people who either don’t need mobility assistance at home, or don’t qualify for home scooter purchase programs, but who still face limited options in public," an Uber spokesperson said.
- Bloomberg
Goldman Says It Sold Out of Uber Stake After IPO Lockup Expired
(Bloomberg) -- Goldman Sachs Group Inc. has sold off its stake in Uber Technologies Inc. after the ride-hailing startup’s disappointing initial public offering in 2019.Chief Financial Officer Stephen Scherr said on the bank’s earnings call Wednesday that it closed its position in Uber in the fourth quarter last year.Goldman owned about 10 million shares of Uber at the time of the IPO, turning a $5 million wager using the firm’s own money back in 2011 into a major windfall. The bank recognized a gain in the second quarter, but took a hit in the third quarter as Uber’s shares plunged. Like other investors, Goldman Sachs was restricted from selling shares until six months after the offering.Goldman lost out to Morgan Stanley as lead banker on Uber’s IPO, one of the most highly-anticipated in 2019, though it did share some of the work along with Bank of America Corp. But Uber’s shares tumbled immediately after the listing and ended the year down 34% as investors questioned its path to profitability and regulatory challenges and controversies about passenger safety and the rights of drivers weighed on the company’s image.Uber has said it plains to be profitable on an Ebitda basis in 2021 and its shares are up about 18% so far this year.To contact the reporter on this story: Molly Schuetz in New York at mschuetz9@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Michael J. MooreFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- TechCrunch
Another women-led venture firm gains momentum, with Uber exec Rachel Holt as co-founder
Last November, Axios reported that New Enterprise Associates partner Dayna Grayson was leaving the storied venture firm after roughly six years to launch her own shop in Washington, D.C., called Construct Capital. Today, we know Grayson has company, no pun intended. Rachel Holt, one of Uber's first employees and until now its head of new mobility, announced this morning that she's joining Grayson as her co-founder.
- Bloomberg
One of Uber’s Most Powerful Women Leaves to Start a VC Fund
(Bloomberg) -- Rachel Holt, one of the first employees at Uber Technologies Inc. who rose to become one of the most powerful women at the company, is leaving to start a venture capital firm.Holt is teaming up with Dayna Grayson, a venture capitalist from New Enterprise Associates, to create the new firm, Construct Capital. Both women announced the moves on Twitter but didn’t offer details such as the target fund size. Neither responded to requests for comment.The new firm increases the representation of women in venture capital, an industry dominated by men who bankroll startups mostly led by men. Just 12% of startup investment firms in the U.S. have women in decision-making roles with the power to write checks, according to a report by industry research firm PitchBook and advocacy group All Raise. Female venture partners are twice as likely to invest in startups with at least one female founder and more than three times as likely to back startups with female chief executive officers, the report noted.Holt joined Uber in 2011 and later managed the North American ride-hailing business. Most recently, she led development of new mobility projects, such as electric bicycle and scooter rentals. Her departure to start a VC firm was reported earlier Tuesday by news site Axios.In a statement, Uber CEO Dara Khosrowshahi called Holt’s departure “bittersweet.” Dennis Cinelli, an Uber executive who also did a stint at scooter startup Bird Rides Inc., will take over Holt’s role on an interim basis while Khosrowshahi searches for a replacement, a spokesman said.To contact the reporter on this story: Lizette Chapman in San Francisco at lchapman19@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Uber veteran Rachel Holt to leave
"After 8.5 unforgettable years at @Uber and more than a half-dozen funding rounds, I've decided to put the shoe on the other foot...," Holt, Uber's head of New Mobility, tweeted https://twitter.com/RachelJHolt/status/1217121725772595200 on Tuesday. Electric scooter company Lime, a San Francisco-based competitor of Uber's JUMP programme, last week said it was laying off 14% of its workforce and ceasing operations in 12 markets as it seeks to become profitable. Fuelled by venture capital funding, while electric scooter companies have flooded U.S. streets with app-based scooter rentals over the past years, none has yet turned a profit.Uber in November reported $38 million in third-quarter revenue from a non-core ride-hailing segment it calls "Other Bets," the largest portion of which includes its dockless e-bikes and e-scooters.
- Zacks
The Zacks Analyst Blog Highlights: UnitedHealth, CVS Health, Morgan Stanley, Charles Schwab and Uber Technologies
The Zacks Analyst Blog Highlights: UnitedHealth, CVS Health, Morgan Stanley, Charles Schwab and Uber Technologies
- Bloomberg
Prosus Still Chasing Food Deals After Losing Just Eat Battle
(Bloomberg) -- Prosus NV hasn’t lost its appetite for food delivery, even after the e-commerce giant was defeated in a grueling $8 billion bidding war for U.K. firm Just Eat Plc.Takeaway.com NV last week declared victory in the battle for Just Eat, saying investors holding 80.4% of the shares had formally backed its all-stock bid and rejected a cash offer from Prosus. But the Naspers Ltd.- controlled company has alternative targets to pursue, according to head of ventures and food, Larry Illg.“We continue to look at lots of different options in this space,” Illg said in a phone interview.Prosus -- spun off by South African parent Naspers in September -- has targeted food delivery as a key market for investment as more people opt to order in meals rather than cook. The company also has stakes in Delivery Hero in Germany and India’s Swiggy alongside a controlling stake in iFood in Brazil.One option for further expansion could even see Amsterdam-based Prosus going back to the negotiating table with Takeaway, which is based in the same city. The new owner of Just Eat has said it will consider selling the British firm’s 33% stake in iFood, in which Prosus is the majority shareholder.Prosus would consider buying more of the Brazilian firm, though an additional investment would have to make financial sense and won’t be “something that we would do at all costs,” Illg said.“It’s strictly about the financials because it wouldn’t change anything about how we help manage the business,” he added.Illg’s comments come as food-delivery companies race to consolidate to withstand fierce competition from firms such as Uber Technologies Inc.’s Uber Eats and myriad other apps. Takeaway’s new combined company, listed in London, will become one of Europe’s largest food-delivery operations after the deal is completed.Grubhub Inc. last week said it “unequivocally” isn’t running a sale process, denying reports in The Wall Street Journal and New York Post that the U.S. firm is on the auction block. Meanwhile, Amazon.com Inc.’s attempt to purchase a minority stake in British food delivery startup Deliveroo has run into unexpected scrutiny from U.K. antitrust regulators who’ve opened an in-depth investigation into the deal.Asked about Grubhub or Deliveroo as possible investment targets, Illg declined to comment, but added Prosus isn’t fixated on pursuing deals in a specific location.“We’re not looking to color in white spaces on the map. It’s very opportunistic,” he said.To contact the reporter on this story: Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, John BowkerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Lyft forms advisory council to improve platform safety
The Safety Advisory Council will include representatives from the Rape, Abuse & Incest National Network (RAINN), and "It's On Us", a public awareness campaign launched by former U.S. President Barack Obama in 2014. Lyft and rival Uber Technologies Inc in the past have faced criticism over safety on their platforms and have been slapped with related lawsuits. The move by Lyft comes after the release of Uber's first biennial U.S. Safety Report in December, in which the company said it received over 3,000 reports of sexual assault related to its 1.3 billion rides in the United States in 2018.
- Zacks
Buy Starbucks (SBUX) Stock Now for Strong 2020 Growth?
Starbucks shares have climbed 8% since it reported its Q4 2019 results at the end of October. Is now the time to buy SBUX stock for 2020?
- Zacks
Top Research Reports for UnitedHealth, CVS & Morgan Stanley
Top Research Reports for UnitedHealth, CVS & Morgan Stanley
- Yahoo Finance
Uber and Lyft 'cut costs at the expense of workers,' says California lawmaker
Controversial California law, AB-5, went into effect on January 1 – but ride-hailing giants Uber and Lyft are continuing to challenge the legislation, which aims to disrupt the gig economy in a way that benefits its most vulnerable workers. State Assemblywoman Lorena Gonzalez, who authored AB-5, joins The Final Round to discuss.
