PayPal makes $500mn investment in Uber: Report

SAN FRANCISCO: Global online paymentssystem PayPal is investing $500 million in Uber ahead of the highly anticipated Initial Public Offering (IPO), the media cited the ride-sharing major updated S1 filing. “I don’t think you spend that kind of money unless it’s part of a global strategy to enable these new super-platforms,” Ryan Gilbert, Partner at Venture Capital Firm Propel Ventures was quoted […]

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PayPal makes a big marketplace play with its $500M investment in Uber

Uber’s  announcement of its IPO pricing earlier today came with a $500 million belated Easter egg. The payments giant PayPal is making a half-billion-dollar investment in the company, paying $47 per share, which gives the company a valuation of $78.8 billion (in the middle of the range of Uber’s IPO pricing of $44-$50 per share). Neither Uber nor PayPal  gave […]

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Uber in Deal With NASA to Build Flying Taxi Air Control Software

Uber is taking part in a joint industry and government push with NASA to develop software which the company aims to use to manage “flying taxi” routes that could work like ride-hailing services it has popularised on the ground. Uber said on Wednesday it was the first formal services contract by the U.S. National Aeronautical and Space Administration (NASA) covering […]

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Uber launches food-delivery service in Japan

The launch of food-delivery service UberEats in Japan will give Uber a slice of a market which almost doubled in 2014 to ¥1.9 trillion. Photo: Reuters Tokyo: Uber Technologies on Wednesday said it will launch a food-delivery service in Japan as it looks for new ways to enter a potentially massive market where its ride-hailing […]

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Uber, Lyft Settlement Did Not Require Either Side to Pay

A pitched legal battle between ride-hailing rivals Uber and Lyft, involving accusations of hacking and corporate spying, ended with a settlement this week that did not require either company to pay money, according to sources familiar with the agreement. The settlement coincided with news that Lyft was working with investment bank Qatalyst Partners to pursue […]

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Daimler’s MyTaxi Said to Merge With Hailo to Take on Uber

Daimler will deepen its European footprint in the ride-hailing business when its MyTaxi smartphone app unveils an all-share merger deal with UK rival Hailo as soon as Tuesday, three sources briefed on the matter told Reuters. It is the latest push by traditional carmakers to enter the taxi ride hailing services market dominated by technology […]

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Uber inks software deal with Concur to ease business trips

Uber on Monday said it has hit a milestone of 2 billion trips, less than seven months after reaching 1 billion rides. Photo: Hemant Mishra/Mint San Francisco: Uber Technologies Inc. struck a deal with Concur Technologies Inc., a travel and expense management company, that will make it easier for companies to create Uber accounts for […]

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