Uber treads cautiously with $82.4bn valuation ahead of market debut

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 67%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The ride-hailing app is settling for a lower share price amid concerns about whether such companies are able to turn a profit.

A windfall for drivers may not be forthcoming. Earlier this week, Uber workers in the UK and US went on strike, with some drivers claiming they struggle to make ends meet despite working long hours.

Some Uber drivers have also been accused of assaulting passengers, and one of the company's self-driving test vehicles struck and killed a pedestrian in Arizona last year while a back-up human driver was behind the wheel. Despite this, the California-based company has lost about $9bn since its inception and has warned it could be years before it makes a profit.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in CA

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.

Uber drivers to go on strike over pay ahead of company's stock market flotationThe drivers say they are creating 'extraordinary wealth' for the minicab company but have been denied basic workers' rights. Lol they are self employ Get a better job Great shout o wait I’m self employed 🤦‍♂️🙈 those Uber drivers bless um 1 star rating
Source: SkyNews - 🏆 35. / 67 Read more »

Uber class action: taxi and hire-car drivers join lawsuit against companyUber defends service, saying governments across Australia have recognised the concept of ridesharing People shouldn’t use Uber as their only alternative. That company is becoming a scary “monopoly” with a very bad customer service.
Source: The Guardian - 🏆 84. / 53 Read more »

Uber IPO: the rich people who will get even richer when the company goes publicThe ride-hailing app will have one of the largest initial public offerings in history on 10 May Uber lost more money last year than Trump lost in the 80s. UberSucks Repeating history NOT innovation IPO
Source: The Guardian - 🏆 84. / 53 Read more »