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Uber entices drivers back post-pandemic with $250 million stimulus

Despite the classification of ride-hail drivers as “essential workers” during the early days of the pandemic, last April  Uber’s business dropped by 80%. Drivers decided they’d rather not risk contracting or spreading COVID-19 for the measly revenue provided by the few rides per day they were getting, so when the federal CARES Act extended the Pandemic Unemployment Assistance to gig workers, many Uber drivers decided to hang up their keys.  With more than a quarter of the U.S. population a...
Tags: Transportation, Uber, Tech, Austin, Automotive, Rideshare, On-demand, Gig Economy, Ride Hailing, Phoenix, Uber Drivers, Gig workers, Philadelphia Austin Chicago Miami

Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past

Ride-hailing giant Uber secured $8.1 billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 billion, according to calculations by The New York Times and other news outlets.Uber announced late Thursday it will sell 180 million shares of common stock at $45 apiece when it completes the IPO. That price is near the lowest end of the range Uber set at $44 to $50 in the amended prospectus it filed on April 26.Uber (NYSE: UBER) will sta...
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