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.
Browsing: Uber
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.
Even by the standards of Uber Technologies, $5-billion is a lot to lose in three months of doing business. Yet, that’s the amount analysts expect to see for the second quarter.
Uber Technologies said it’s cutting a third of its marketing department globally, as the CEO seeks to address concerns that the business is slowing down.
Uber Technologies’ path to profit is likely to be slowed by growing competition as a significant number of customers are willing to wait around for a cheaper ride, according to analysts at HSBC.
It would be prudent to focus primarily on job creation in South Africa before crushing potential growth areas with formal prescriptions. By Gwen Ngwenya.
The White House is launching an investigation into France’s proposed tax on Internet giants such as Google, Amazon and Facebook, in a move that could lead to US taxes on French imports.
Swvl, an Egyptian app for booking minibuses, has raised about R600-million as it looks to expand into other parts of Africa.
Facebook is to launch a cryptocurrency next year – backed by the likes of Mastercard, Visa and PayPal – which will allow people to move money from their smartphones.
In this episode of the podcast, Duncan McLeod is joined by Rifqa Carr of ride-hailing service inDriver, which is newly launched in South Africa.