Masayoshi Son struck a defiant tone after his SoftBank Group reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies.
Browsing: Uber
Uber Technologies disappointed investors with quarterly results showing lacklustre gains in bookings and monthly active users, two of the metrics most closely watched by Wall Street.
In his latest bid to reduce losses at Uber Technologies, Dara Khosrowshahi fired about 350 employees, in what he said is the “last wave” of workforce reductions.
As WeWork continues its stumble to the public markets, some prognosticators see this moment as something more significant: that a WeWork belly-flop portends the end of the unicorn era in Silicon Valley.
Uber Technologies is dismissing 435 employees, the second major staff cut in recent months, as the company faces mounting losses and a declining stock price.
Chinese ride-hailing company Didi Chuxing will roll out robo-taxis in Shanghai, letting people hail self-driving cars through their smartphones.
A former Google engineer has been charged with stealing self-driving car technology from the company shortly before he joined Uber.
Bolt, the ride-hailing service formerly known as Taxify, said it has begun operating a food-delivery business in its native Estonia, and will launch in other European and African countries next year.
Uber Technologies has instituted a hiring freeze for employees working on software and services across the US and Canada, as the ride-hailing company faces mounting losses.
The ride-hailing company reported second quarter adjusted sales that fell short of estimates and posted a net loss of $5.24-billion, by far the largest ever for the business.