Jan 14, 2020

Uber's chief of scooters, bikes to depart

Rachel Holt. Photo: Tasos Katopodis/Getty Images for Uber Elevate

Rachel Holt, a longtime Uber executive who joined the ride-hailing company in 2011, is leaving Uber to launch a venture capital firm called Construct Capital, according to an internal memo Axios has obtained.

Why it matters: Holt, who started her time at Uber heading its Washington, D.C. operations, was promoted in 2018 to head what it calls "New Mobility," the division that includes bikes, scooters, and public transit partnerships.

Below is an excerpt from an internal email sent by Holt, and obtained by Axios:

"Making a change this this is never a simple decision and, in my case, doubly so. Uber has been my home for nearly 8.5 years and I've grown immensely both personally and professionally in that time. I'll never forget the rush of energy turning on our business in Washington, D.C. in 2011 for the first time, and immediately seeing the 8 available cars we had on the road (that was a lot at the time!) get requested.
I'll always remember where I was when the first moment it dawned on me that we might be onto something big, when I overheard strangers talking about Uber, showing each other this cool new app they had found. I couldn't have been prouder to see the positive impact on drivers across the country when we launched tipping...
And, most recently, spending time in with the NeMo leads in Paris, riding JUMP bikes around the city and seeing firsthand just how much we're changing the city for the better, and realizing how lucky I was to have the opportunity to change the world not once, but twice, on both rides and mobility."

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Uber sells India food delivery business to rival Zomato

Photo: CHANDAN KHANNA/AFP via Getty Images

Uber has agreed to sell its food delivery business in India to rival Zomato in an all-stock deal that gives Uber a 9.99% stake in the combined business.

Why it matters: Uber is under growing pressure from investors to figure out a path to profitability and cut loose anything that won't help it reach that goal.

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Uber's new London move with Nissan on electric vehicles

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Uber announced Friday a deal with Nissan to provide up to 2,000 electric Nissan LEAFs to drivers in London at a discount.

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Go deeperArrowJan 24, 2020

Uber's AB5-related changes haven't been great for California riders

Photo: Smith Collection/Gado/Getty Images

Prices and wait times have gone up for Uber passengers since the ride-hailing began making changes last month because of a new state law that makes it harder to classify workers as independent contractors, Uber CEO Dara Khorowshahi told analysts on Thursday.

Why it matters: Uber and other companies like Lyft, Postmates, Doordash have aggressively pushed back on the new law, known as AB5, as it threatens their business models.