Tag: Uber

Uber Investors Seek Class Cert. In Scandal-Scarred IPO Suit

Law360 (September 28, 2020, 6:35 PM EDT) — Uber Technologies Inc. investors have asked a California federal judge to certify a securities class action alleging the ride-hailing giant duped shareholders about numerous corporate scandals, overhyped its business prospects and downplayed risks ahead of its May 2019 initial public offering.

Boston Retirement System, the pension fund for Boston’s city employees that’s represented by Labaton Sucharow LLP, filed a motion with U.S. District Judge Richard Seeborg on Friday, asserting that they’re best suited to steer classwide claims that Uber’s various missteps and misrepresentations led to an $8.1 billion debut that amounted to a “train wreck” for hundreds and likely thousands of…

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Uber for Business pilots coworker carpools to get people back to the office

Uber has announced a couple of notable updates to its business-focused platform, as the ride-hail giant seeks fresh revenue streams after a turbulent six months that saw gross ride bookings fall by up to 73% on last year.

The launch also comes as businesses figure out a way to safely exit lockdown and return their workers to offices and warehouses without enduring crowded public transit — something that Uber’s latest services go some way toward addressing. In the coming weeks Uber is introducing a new group rides product for employees, enabling companies to organize journeys for workers to travel together — it’s essentially a carpool for coworkers.

Employees hit the “choose group rides” button in the main Uber app, and Uber then matches them with fellow workers traveling roughly in the same direction.

Above: Uber: Carpool for coworkers

Ride-sharing is perhaps not the most alluring prospect during a global pandemic,

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Microsoft, Uber Were Founded During Recession. So is Pandemic a Good Time to Start a Business?

Is this a good time to start a business? This question may have been asked many times over and over again, but at a time when the Coronavirus pandemic doesn’t seem like it’s going anywhere, it has perhaps become the question no one wants to really ask.

Adeo Ressi, co-founder and CEO of Founder Institute, explains why this may indeed be a good time to start that business. In fact, Founder Institute, the world’s largest pre-seed incubator, was founded in 2009, during the global financial crisis. Back in India, as Ressi pointed out, that some of the most successful businesses– Zomato, Policy Bazaar and Icertis were also founded at the same time.

India was already facing an employment crisis. The pandemic has made it worse. The move to a digital space with little or no concept of office space coupled with increasing thrust on automation have also rendered many unemployable.

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Budget breakdown of a 23-year-old Uber driver earning $25,000 a year

This story is part of CNBC Make It’s Millennial Money series, which profiles people around the world and details how they earn, spend and save their money.

Jerone Gillespie has a knack for looking on the bright side — even under difficult circumstances.

His water gets turned off? It’s only temporary. He has to sleep on his brother’s couch because he can’t afford an apartment? It’s an opportunity to start saving up. 

Jerone Gillespie, 23, lives in the Greater Baltimore area.

CNBC Make It

Today, the 23-year-old, who lives just outside of Baltimore, spends part of the year working in a tax preparation office and the rest driving for Uber and Lyft. He expects to earn about $25,000 total in 2020, before taxes.

But he’s not stressed about his low salary: He spends his free time investing, studying money, business and science, and planning his next move.

How Gillespie learned

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