Sections SEARCH Skip to content Skip to site index Technology Subscribe Log In Log In Today’s Paper Technology | Uber’s Stock Disappoints, Capping a Rocky Path to Its I.P.O. Advertisement Supported by ByMike Isaac May 10, 2019 Over the past decade, Uber changed urban transportation, disrupted entrenched taxi industries, defied regulators the world over and beat back questions about how it was altering the nature of work. On Friday, it was tamed by Wall Street. The ride-hailing giant’s first day of trading on the New York Stock Exchange began with a drop from its initial public offering price of $45, and its stock closed down 7.6 percent. By the end of Friday, Uber’s market capitalization, accounting for stock options and restricted stock, stood at $76.5 billion — barely above the $76 billion that private investors pegged it at in August. Uber’s Share price Change … [Read more...] about Uber’s Stock Disappoints, Capping a Rocky Path to Its I.P.O.
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SAN FRANCISCO/DUBAI -- Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. Uber said late on Monday night it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem, which operates in more than 90 cities in the Middle East and Northern Africa. The long-expected agreement ends more than nine months of start-and-stop negotiations between the two companies and hands Uber a much-needed victory after a series of overseas divestments. The notes will be convertible into Uber shares at a price equal to $55 apiece, Uber said, marking a nearly 13 percent increase over Uber's share price in its last financing round, led by SoftBank Group Corp. more than a year ago. The acquisition makes Careem a wholly owned subsidiary of Uber and will keep the Careem brand and app intact, at least initially. Careem co-founders … [Read more...] about Uber’s $3.1B Careem deal will give it big footprint in Mideast
For roughly 130 years humans have been in charge of the steering wheels, throttles, and brakes in our roadgoing vehicles; it’s all been up to us—for better and for worse. Today, though, the future envisioned as long ago as the 1939 World’s Fair is nearly here. Computers are poised to pilot us wherever we want to go with no human intervention necessary. In fact, in a few select areas they’re already doing just that. The implications are enormous. What does the arrival of connected and automated vehicles (CAVs) mean for the future of transportation? And, crucially for driving enthusiasts like us, will the conventional human-driven automobile survive? The answers are as amazing as they are thought-provoking. The Promise. And the Pizza. “Safety is first and foremost,” says Lawrence D. Burns, Ph.D., former chief of R&D at General Motors, and a prime consultant on Google’s self-driving-car project (now dubbed Waymo, for “a new way forward … [Read more...] about Fully Automated Vehicles Are Likely Further Away than Some Would Have You Believe
Joseph Pisani and Marley Jay Associated Press Published 9:08 p.m. UTC Sep 4, 2018 New York – Amazon on Tuesday became the second publicly traded company to reach $1 trillion in market value, hot on the heels of iPhone maker Apple. The milestone is another sign of Amazon’s swift rise from an online bookseller to a behemoth that sells toilet paper, TVs and just about anything. In its two decades, Amazon has expanded far beyond online shopping and into health care, advertising and cloud computing. Its growth has boosted the fortunes of its founder and CEO, Jeff Bezos. His 16 percent stake in Amazon is now worth more than $160 billion. Forbes magazine placed him at the top of its list of billionaires for the first time this year, surpassing Microsoft co-founder Bill Gates and investor Warren Buffett. Amazon’s stock has increased almost 600 percent in the last five years, including a more than 70 percent surge so far in 2018 alone. On Tuesday morning, the stock … [Read more...] about Amazon becomes 2nd U.S. company with $1T market value