SharesPost analyst Alejandro Ortiz said:"They're showing that they're capable of controlling their costs, which has been a concern of ride sharing companies in general.Uber's food delivery service is one of its bright spots, operating in 500 cities globallyOne of the main problems is drivers' wages, a huge expense made harder to control by the fact that drivers can easily move between the two businesses.
But Uber has been investing in self-driving vehicles, building more than 250 of the vehicles and staffing its self-driving division with more than 1,000 people. A bright spot was Uber's food delivery business, which is in 500 cities around the world and doubled its revenue to $757m in 2018 from $367m in 2017.
Lyft entered the stock market in March, raising $2.3bn in its IPO but the excitement has faded and its stock now sells for around $61, down from its original price of $72. Uber, which operates in 65 countries, expects to raise around $10bn, according to the Wall Street Journal.
They'll put up their commission to compensate the losses. And you'll still drivers wanting to work for them..
Another bubble
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: The Guardian - 🏆 84. / 53 Read more »