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Equity Shot: Pinterest zooms into the public markets (and yet another tech company files for an IPO)

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This is a relaxed, Friday, Equity Shot. That means Kate and Alex were on deck to chew through the latest from the IPO front. We’ll keep doing extra episodes as long as we have to, though we’re slightly sorry if we’re becoming a bit much. That’s a joke — we’re not sorry at all. So, three things this week. First, Fastly filed an S-1 (Alex’s notes here); second, Zo...
Tags: Podcasts, TC, Economy, Equity podcast, Fastly, Finance, Initial Public Offering, Money, Pinterest, Public Offering, Startups, Uber, Zoom


Toyota leads $1 billion investment in Uber’s self-driving tech division

In a move that has been a long time coming, Uber filed its S-1 documents, which sets the stage for the company to finally go public with an initial public offering. The company could be valued at more than $100 billion. The post Toyota leads $1 billion investment in Uber’s self-driving tech division appeared first on Digital Trends.
Tags: Business, Cars, News, Initial Public Offering, Ipo, Uber, Valuation


Uber's self-driving car unit valued at $7.3bn as it gears up for IPO

US firm received $1bn from consortium including Toyota and Saudi ArabiaUber’s self-driving car unit has been valued at $7.3bn (£5.6bn), after receiving $1bn of investment by a consortium including Toyota and Saudi Arabia’s sovereign wealth fund.With weeks to go until the loss-making San Francisco firm’s stock market float, expected to value the company at up to $100bn, Uber said it had secured new financial backing for its plans to develop autonomous vehicles. Continue reading...
Tags: Uber, Self-driving cars, Technology, Motoring, IPOs, Business, US news, World news, Stock markets


IPOs have sent Uber and Lyft fares skyrocketing, while driver pay plummets

The public markets are hungry: as Uber and Lyft look to IPOs to let their investors -- who have been subsidizing 40-50% of every ride -- redeem their shares through sales to the public capital markets, the companies are desperate for ways to reduce their unprofitability and increase those share prices. Luckily for them, the rideshare companies operate "two-sided markets," a darling of neoliberal economic orthodoxy, wherein they are able to control the prices that customers pay and the share...
Tags: Post, Business, Economics, Lyft, Rideshare, Two-sided Gouging, Two-sided Markets, Uber


Uber’s self-driving car unit raises $1B from Toyota, Denso and Vision Fund ahead of spin-out

Uber’s has confirmed it will spin out its self-driving car business after the unit closed $1 billion in funding from Toyota, auto-parts maker Denso and SoftBank’s Vision Fund. The development has been speculated for some time — as far back as October — and it serves to both remove a deeply-unprofitable unit from the main Uber business: helping Uber scale back some of its losses, while giving Uber’s Advanced Technologies Group (known as Uber ATG) more freedom to focus on the tough challenge of br...
Tags: Uber, Japan, Ipo, Softbank, Tech, Automotive, Toyota, ATG, DENSO, Dara Khosrowshahi, SoftBank Vision Fund, Vision Fund, Uber s Advanced Technologies Group, Uber ATG, Shigeki Tomoyama, Toyota Group


Uber, Lyft implement new safety measures

Uber and Lyft instituted new safety features and policies this week. The move follows the death of Samantha Josephson, a student at the University of South Carolina, who was kidnapped and murdered in late March. She was found dead after getting into a vehicle that she believed to be her Uber ride. The murder, which has garnered nationwide media attention, seems to have spurred action by the ride sharing behemoths. In response, Uber is launching the Campus Safety Initiative, which includes new...
Tags: Startups, TC, Transportation, Lyft, Uber, Ipo, Tech, Cnn, South Carolina, University of South Carolina, Samantha Josephson, Five Points district of Columbia


Uber Launches New Safety Features as It’s Being Sued by Assault Victims

It’s one of those horrors that most men don’t think about but women regularly have to.Read more...
Tags: Uber, Science, Sexual Assault, Assault Victims


Pinterest shares leap 25% in spectacular New York stock exchange debut

Latest Silicon Valley ‘unicorn’ valued at $15bnPopular digital scrapbook platform is close to making moneyPinterest, the digital pin board company, made a spectacular debut on the New York stock exchange on Thursday when its shares leapt 25% in its first few hours of trading.The company, which allows users to “pin” and share pictures of favorite recipes, decorating tips and inspiring images, is used by 250 million people a month and reaches “eight out of 10 moms” in the US, according to its regu...
Tags: Lyft, Uber, Business, New York, Technology, Pinterest, US, Stock Markets, Silicon Valley


Uber and Lyft drivers say apps are short-changing wages while raising fares

Drivers for both ridesharing companies say riders are paying more for price surges, but drivers aren’t receiving extra payRidesharing companies Uber and Lyft have taken more than 11 billion people for a ride in their relatively short life. And yet the two companies have yet to make a cent in profits. Now, as the companies go public, some drivers think they may have spotted one way the companies plan to close that gap: increasing prices while short-changing drivers. Related: Disgruntled drivers...
Tags: Lyft, Uber, Business, Technology, US news


Uber’s self-driving car unit may be worth $7.25 billion alone

Uber is reportedly nearing a deal that could value its self-driving car unit at $7.25 billion.  The Wall Street Journal reported Wednesday that Uber is expected to receive $1 billion from a group of investors, including SoftBank Group and Toyota, ahead of its IPO in early May.  Sources told The Journal that the company is eager to get this autonomous deal in place so that it can plug the self-driving car unit's value and growth prospects. Visit BusinessInsider.com for more stories. Uber is ...
Tags: Uber, Trends, Arizona, Toyota, Huawei, Wall Street Journal, Journal, ATG, SoftBank Group, Advanced Technologies Group ATG, IPO Uber, The Journal Read


Pinterest prices IPO above range

Pinterest priced shares of its stock, “PINS,” above its anticipated range on Wednesday evening, CNBC reports. The company will sell 75 million shares of Class A common stock at $19 apiece in an offering that will attract $1.4 billion in new capital for the visual search engine. The NYSE-listed business had planned to sell its shares at between $15 to $17 and didn’t increase the size of its planned offering prior to Wednesday’s pricing. Valued at $12.3 billion in 2017, the initial public offer...
Tags: Fundings & Exits, Startups, TC, Lyft, Uber, Pinterest, Wall Street, San Francisco, Tech, Companies, Transport, Venture Capital, Search Engine, Silicon Valley, Kim, Andreessen Horowitz


Unpacking Pinterest’s IPO expectations

For seven years, Pinterest has been considered a “unicorn,” boasting a valuation larger than $1 billion since its 2012 Series C funding round. Before that, it was considered an underdog, puzzling some investors with its “digital pinboard” and preference for “quality growth.” Now, as the company takes its final step toward its Thursday NYSE initial public offering, it’s being called an “undercorn.” Pinterest plans to sell shares of its stock, titled “PINS,” at $15 to $17 apiece, less than the ...
Tags: Fundings & Exits, Lyft, Uber, Money, Pinterest, Finance, Ipo, Evernote, Tech, Economy, New York Times, Venture Capital, Square, Search Engine, Silicon Valley, Airbnb


Apple Pay comes to Uber Eats in nearly 20 markets

Apple Pay has been a payment option in Uber’s app since fall 2014, but the payment option hadn’t made its way over to Uber’s food delivery app, Uber Eats. Now, that’s changing. Uber today announced that users who want to use Apple Pay can finally do so using FaceID or TouchID in the Uber Eats app, instead of filling out their billing information. Uber and Uber Eats had previously supported a range of payment options, including credit and debit cards, plus PayPal and Venmo. The latter — Venmo — w...
Tags: Apple, Uber, Apps, Tech, Paypal, Mobile Payments, Apple Pay, Payments, Venmo, Uber Eats, Postmates Grubhub Seamless, Starbucks Dunkin Chipotle, United Arab Emirates United Kingdom


Google Cloud, McDonald’s big tech acquisition, and motivating an engineering team

Our live conference call on Google Cloud Next Last week at its conference in San Francisco, Google Cloud unveiled a bevy of new features, and we also got to hear for the first time from its head honcho, Thomas Kurian . TechCrunch was on the scene, with enterprise editor Frederic Lardinois and enterprise reporter Ron Miller covering all aspects of this major conference. They conducted a live conference call with Extra Crunch members last week. In case you missed it, we’ve posted the transcript...
Tags: Google, TC, Uber, San Francisco, Tech, Mcdonalds, CircleCI, Lucas Matney, Bessemer, Greenberg Traurig, McDonald, Ron Miller, Frederic Lardinois, Douglas Rushkoff, Google Cloud, Adam Fisher


Uber’s Fatal Accident and the Future of Autonomous Cars

Any sufficiently disruptive technology brings risk before it brings promise. On Sunday, March 18, 2018, an Uber Volvo XC90 in autonomous mode, with a safety driver as backup, hit and killed a 49-year-old Tempe, Arizona, woman, Elaine Herzberg. The NTSB is investigating. No doubt you’ve heard that last year, an Uber in Tempe, Arizona, operating ...
Tags: Uber, Innovation, Autonomous Vehicles, Driverless Car, Ntsb, Tempe Arizona, Uber Volvo, Elaine Herzberg


Uber IPO breakdown: Challenges in India — local competition, driver protests, background checks, pricing regulation, cash payments

Stiff competition worldwide; food delivery competition in India from Swiggy and Zomato Uber notes that its competitors have the capital to offer discounted services, driver incentives, consumer discounts & promotions, innovative products and offerings, and alternative pricing models. Some... ...
Tags: Travel, Mobile, Uber, News, Internet, Ipo, India, Swiggy, Online Cab booking, IPO Bid


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Wednesday. Netflix posted its biggest quarter ever for paid subscriber growth, adding 9.6 million net paid subscribers globally. But the company's guidance for subscriber growth was weaker for the second quarter than Wall Street expected, sending the stock sliding. Apple and Qualcomm settled their patent dispute, sending Qualcomm's share price up. The pair have agreed to drop all litigation, and Apple will buy Qualcomm chips for the iPh...
Tags: Apple, Google, Amazon, Facebook, Uber, Mark Zuckerberg, Twitter, UK, Saudi Arabia, China, India, Nbc News, Trends, Intel, Netflix, Alibaba


Uber has dangled $100 million at Dara Khosrowshahi if he can convince investors, or a buyer, that the company is worth $120 billion

Dara Khosrowshahi has a huge potential payout riding on Uber's IPO valuation hitting $120 billion and staying there for 90 consecutive days. He'd also get that payout for selling the company for $120 billion.  A source tell us his incentive is worth $100 million or more. Dara Khosrowshahi could get a huge payday — totaling more than $100 million according to a source — if Uber's IPO valuation hits $120 billion and stays at that level for 90 consecutive days. The Uber CEO will also get the pay...
Tags: Google, Uber, Southeast Asia, Softbank, US, Trends, Cruise, Gm, Honda, Expedia, PitchBook, Dan Primack, Dara Khosrowshahi, Primack, Khosrowshahi, Waymo


Seattle’s Outreach Joins Unicorn Ranks With $114M Funding Round

Another tech “unicorn”—privately controlled startups valued at $1 billion or more—has been minted following sales software company Outreach’s latest venture funding round, a $114 million deal.Seattle-based Outreach develops customer relationship management tools designed to improve communication between salespeople and their prospective clients. Launched in 2013, the startup says its most recent round of financing values Outreach at $1.1 billion and brings its total funding haul to $239 million...
Tags: Deals, Startups, Uber, Pinterest, Microsoft, Sales, Trends, Tech, IPOs, Outreach, Vc, Seattle, Unicorns, Drift, Dfj Growth, Meritech Capital partners


Waymo launches robotaxi app on Google Play

Waymo is making its ride-hailing app more widely available by putting it on the Google Play store as the self-driving car company prepares to open up its service to more Phoenix residents. The company, which spun out to become a business under Alphabet, launched a limited commercial robotaxi service called Waymo One in the Phoenix area in December. The Waymo One self-driving car service, and accompanying app, was only available to Phoenix residents who were part of its early rider program,...
Tags: Google, Android, Transportation, Lyft, Uber, Tech, Automotive, Electric Vehicles, Transport, Self-driving Cars, Self-driving Car, Alphabet, Phoenix, Chrysler Pacifica, Chandler, Waymo


Lyft and Uber Mayhem vs. Taxi Line Hell: Which Airport Nightmare Is Worse?

There are few things I dread more when getting off of a long-ass flight than getting back onto a train and waiting another hour or more to make it home—particularly when I fly a red-eye, which is often if I’m flying between the coasts.Read more...
Tags: Lyft, Uber, Science, Airports, Chatroom, Ridesharing, Taxis, Airport Hell


Uber launched a Saudi Arabia-only feature that lets female drivers avoid taking male passengers

Uber has launched a feature for female drivers in Saudi Arabia which means they can block men from hailing their cab. The feature, which became active in April this year, is called "Women Preferred View," and selects nearby passengers based on their gender.  Drivers can toggle on and off whether male passengers come up on Uber's Driver App.  Uber developed the feature when they found 74% of Saudi female drivers did not want to pick up male passengers.  Women gained the right to drive for the f...
Tags: Uber, Saudi Arabia, Trends, Jeddah, Samsung Galaxy, Uber Middle East, North Africa, Riyadh, Saudi Arabia Read, Tino Waked, Kingdom Join


Alive Again! $25 Uber/Uber Eats Gift Card For $20 Via Facebook Deals

Update : Alive again, if you purchased this before you may not be eligible to purchase it again.
Tags: Deals, Uber, Gift Cards, Via Facebook Deals


YC alum Keeper raises $1.6M to help gig workers pay taxes

Every year around this time, Uber drivers, Wag dog walkers, Bird scooter chargers, social media influencers and other gig economy workers face the unsightly challenge of paying their taxes. Companies like Uber and Lyft classify their drivers as independent contractors, which means you aren’t given any benefits and the company doesn’t withhold any of your taxes. This puts gig workers in a tough position come tax day, especially if they aren’t prepared to shell out big sums to the IRS. Ke...
Tags: Startups, Lyft, Uber, Y Combinator, Spotify, Craigslist, Finance, San Francisco, Chief executive officer, Tech, Tax, Sms, Chicago, United States, Transport, Venture Capital


These 5 charts show how Uber and Lyft compare financially as they fight to win the ride-hailing race (LYFT, UBER)

Uber and Lyft are set to be the first publicly traded ride-hailing companies when Uber finishes its IPO that it began last week.  The companies' IPO filings are the first look investors have at audited financials for Uber and Lyft.  Business Insider pulled out five key lines from the companies' balance sheets to show how the two compare.  Uber filed its long-awaited documents for an initial pubic offering, or IPO on Thursday, giving us the first comprehensive look at the ride-hailing giant's ...
Tags: Lyft, Uber, Trends, White, Lyft Uber, Davidson, Tom White, Lyft Business Insider


The most overlooked path to commercialize AI is for companies to do it themselves

The Bessemer Process patented in 1856 by Sir Henry Bessemer is one of the inventions most closely associated with catalyzing the second industrial revolution. By reducing the impurities of iron with an innovative oxidizing air blast, the process ushered in a new wave of inexpensive, high-volume steelmaking. Bessemer decided to license his patent to a handful of steelmakers in an effort to quickly monetize his efforts. But contrary to expectations, technical challenges and monopolistic greed prev...
Tags: Apple, TC, Uber, Washington Post, Tech, Tesla, Ford, Andreessen Horowitz, Fedex, Bessemer, Chris Dixon, Amazon Mechanical Turk, Cleveland Engine Plant, Andrew Spear, Henry Bessemer, Courtesy of Flickr Tullio Saba Leveraging


Uber’s JUMP Bikes founder and Scoot’s SVP of Product are talking bikes and scooters at TC Sessions: Mobility

Micromobility — electric personal vehicles — has gone from being non-existent to ubiquitous across cities all over the world. Currently, we’re seeing micromobility take on the form of electric scooters and pedal-assist bikes. JUMP and Scoot operate in both of those categories. JUMP got its start as a pedal-assist bike-share startup, but has since evolved to handle electric scooters. And while Scoot’s first product from 2012 was an electric moped, it got its feet wet with bikes back in May 201...
Tags: Transportation, Uber, Events, Tech, Transport, Bird, Scooter, Scoot, SAN JOSE Calif, SVP, Asset Management, Moped, Oliver Cameron, Jump Bikes, Ryan Rzepecki, TC Sessions: Mobility 2019


Lyft falls to fresh low, extending its post-IPO plunge to 35% (LYFT)

Lyft shares hit a fresh low Monday as the stock's post-initial-public-offering route continued. Shares were trading at just over $57 apiece — 35% below where they made their debut on the Nasdaq. Analysts are concerned over the company's uncertain path to profitability and an intense competitive environment dominated by rival Uber. Watch Lyft trade live. Lyft shares fell more than 5% Monday, hitting a fresh low as the ride-hailing company's post-initial-public-offering rout raged on. Wall Str...
Tags: Lyft, Uber, US, San Francisco, Trends, Hsbc, New York Stock Exchange, New York Washington, New York City Washington, Uber Watch Lyft


More S1 Fun

I am continuing my mini series on reading S1s (IPO documents). We are enjoying an IPO bonanza this year, so we might as well use it for some good and learn something. When a company files for an IPO, I like to think if there is a publicly traded company that looks a lot like that company and if so, I lik to run some numbers comparing the two. Well we have that exact situation with Uber filing to go public last week. Here is Uber’s S1. We can compare Uber’s numbers to recently public Lyf...
Tags: Lyft, Uber, Trends, Stocks


Morgan Stanley, Goldman Sachs, and all 27 other banks working on Uber's mega-IPO (LYFT)

Morgan Stanley and Goldman Sachs won the top banking roles on the upcoming Uber IPO, which could reportedly raise up to $100 million for the ride-hailing company. Despite the competition between Uber and Lyft, which went public at the end of March, 11 of Uber's 29 banks are on both IPOs. Here are all 29 banks underwriting Uber's IPO Visit BusinessInsider.com for more stories. Morgan Stanley and Goldman Sachs won the top two slots on Uber's impending IPO — joining with 27 other banks to fill u...
Tags: Apple, Google, Lyft, Uber, Usa, Ipo, Trends, Credit Suisse, Nintendo, Goldman Sachs, Morgan Stanley, Farfetch, Reuters, RBC Capital Markets, Morgan Stanley Goldman Sachs, GrubHub