- Top Uber Investor Resists SoftBank Deal
The opposition by Benchmark Capital is complicating a proposal by SoftBank and its $93 billion tech-focused Vision Fund, along with partners, to buy 17% to 22% of Uber--mostly through purchasing shares from existing shareholders.
Benchmark has told fellow investors it is unlikely to sell any of its 13% holding to the SoftBank consortium, according to people familiar with the matter. And Benchmark's representative on Uber's board, Matt Cohler, was the only one of Uber's eight directors to vote against a term sheet granting SoftBank exclusive rights to an investment deal, the people said.
- Alphabet’s Waymo wants Uber to pay $2.6 billion in damages for a single allegedly stolen trade secret
Uber calls Alphabet’s damages claims “inflated” and “based entirely on speculative future profits and cost savings in a nascent market.”
The damages Alphabet is seeking for each of the nine trade secrets vary and have been redacted within the document. So there’s still no indication of which trade secret claim Alphabet is seeking $2.6 billion for, nor what amount the company is asking for the other eight trade secrets.
- Uber has a lot of reasons to settle its lawsuit with Alphabet
Alphabet isn’t just taking Uber for a legal ride. It wants to cause some serious damage, which some inside think is part of an effort to slow down Uber’s self-driving efforts.
But Alphabet’s endless legal and financial resources — and determination from top execs at the company to make an example of Uber — are powerful reasons that Khosrowshahi might seek a settlement.
- Uber Loses Its License to Operate in London
The agency took direct aim at Uber’s corporate culture, declaring that the company’s “approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications.”
- Uber Is Sorry for ‘Wife Appreciation Day’ Promo
The promo, only valid on September 17, read:
Dear husbands, a gentle reminder — today is Wife Appreciation Day. Order on uberEATS and leet your wife take a day off from the kitchen.
- Chinese-backed rival takes on Uber in London
Once the initial discounts end, Taxify still aims to be 10% cheaper than Uber, CEO Markus Villig told CNNMoney.
"I think we mainly have a very strong second mover advantage," Villig said. "We don't need to do the hard work of actually establishing this market. We can rather come in, be more efficient, more lean and take a smaller cut for ourselves, and therefore undercut the existing incumbents."