Stories by Kia Kokalitcheva

Steve Jurvetson among Tesla board members to step down

Photo of Tesla car showroom entrance with cars.
A Tesla showroom in Miami, Florida. Photo: Joe Raedle/Getty Images

Venture capitalist Steve Jurvetson, along with Brad Buss, Antonio Gracias and Linda Johnson Rice, will not be up for re-election on Tesla's board of directors when their terms expire in 2019 and 2020, the company said on Friday.

Why it matters: Jurvetson was placed on leave from Tesla's board in late 2017 after allegations over his behavior toward women surfaced and he was ousted from his VC firm. Tesla's board has also been facing pressure to rein in CEO Elon Musk after he falsely tweeted that the company secured funding to go private, resulting in an ongoing battle with the U.S. Securities and Exchange. The departing directors will not be replaced as the company is shrinking the size of its board.

Uber raises $1 billion for its self-driving unit

Uber self-driving car in Pittsburgh. Photo by Jeff Swensen/Getty Images

Uber on Thursday night confirmed that it has raised $1 billion for its autonomous driving unit at a post-money valuation of $7.25 billion.

Why it matters: Uber is preparing to go public next month, and this deal could soothe some investor concerns about the cash-burn on self-driving R&D.

Lyft IPO isn't a jackpot for drivers

Illustration: Lazaro Gamio/Axios

Lyft allowed a group of select drivers to purchase shares in its recent IPO, but it might not have been the jackpot some had hoped for.

The bottom line: Drivers didn't face a lock-up period, but Lyft shares have mostly traded below their IPO price.