Uber IPO? Leaked reports suggest Uber plans to go public within two years August 21, 2015 Ride-hailing app Uber could become a public company by early 2017, according to a leaked document intended for investors, reports news agency Reuters. A confidential document outlining a presentation intended for potential investors in the company’s Chinese arm UberChina revealed that the parent company is forecast to go public within 18-24 months. Speculation about the [...]
Uber safety: “Lax” background checks slammed as convicted criminals allowed to become drivers August 20, 2015 Background checks by taxi-hailing app Uber have come under fire, after California prosecutors slammed it for security routines so lax that convicted sex offenders and even murderers were allegedly allowed to become drivers. California prosecutors are widening a civil lawsuit they originally brought against Uber in December last year, alleging that the company misleads customers [...]
Tata invests $100m in Uber to fuel India expansion August 19, 2015 The equity investment fund of India's Tata Group is the latest corporation to hitch a lift with Uber. Tata's Opportunities Fund (TOF) has made a $100m (£64m) investment in the controversial billion-dollar startup, allowing the company to extend its reach in India, where it currently has 150,000 drivers in 18 cities and holds a 35 [...]
Addison Lee, Uber, Hailo, Kabbee and Gett taxi app wars: Why the future of transport apps isn’t transport August 19, 2015 On-demand transport – taxi apps – is a £5bn market in London. It's worth double that in the UK as a whole. Worldwide the figures are astronomical. From New York to Tel Aviv, Moscow to London, the way we move around our cities is transforming beyond all recognition. We have technology to thank. The ability [...]
Uber is increasing the size of its security team four-fold August 16, 2015 Taxi app company Uber hopes to have increased the size of its security team from 25 people to 100 people by the end of the year, according to the FT. Read more: Uber vs black cab: Who wins among London passengers? – Brand Index The change comes as the firm, which is worth an [...]
Uber offices raided in Hong Kong after driver arrests in illegal taxi crackdown August 11, 2015 Uber's offices in Hong Kong have been raided by police following the arrest of five drivers in the country. An operation cracking down on illegal taxis lead to the arrests, AP reports citing a police statement. The drivers are being held on suspicion of illegally carrying passengers and driving without insurance, it said. It's just [...]
Most Londoners love taxi apps like Uber and Hailo – but think Black Cabs will still be around in 20 years August 3, 2015 As the war between Black Cabbies and taxi apps rages on, it seems the battle for Londoners' hearts has been won, after a new survey showed 55 per cent of those living in the capital are in favour of Uber and its ilk. The study, by YouGov and communications firm PLMR, found 55 per cent [...]
Uber competition is good for passengers and drivers August 2, 2015 Addison Lee’s Catherine Faiers just can’t stop talking about Uber. Twice in recent weeks, she’s written in these very pages to highlight our popularity. It’s flattering to get confirmation from others that what you do is in such demand, although we try to focus on our own business. We already know the public likes [...]
Uber’s race to the bottom: The wheels will come off this controversial business July 31, 2015 Uber causes a storm wherever it goes. First, there’s the storm of applause as passengers initially embrace what looks like an exciting, disruptive new technology. Then, there’s the storm of protest as people start to understand what the business model is really all about. Treating taxis as just another tech challenge raises all sorts [...]
Uber invests $1bn in India to battle rival Ola July 31, 2015 Uber has announced a $1bn (£640m) investment in India, the ride-hailing app’s fastest-growing market. India is already Uber’s largest market outside the US, after it expanded to 18 cities in two years, posting 40 per cent month-on-month growth. The company will use the investment to expand further, putting it in direct competition with local taxi-hailing company [...]