Nov 13, 2019

"Uber for trucking" startup Convoy raises $400 million

Convoy, a marketplace for truck drivers and shippers, raised $400 million in new funding led by Generation Investment Management and T. Rowe Price at a $2.75 billion valuation.

The bottom line: "It’s not like I’m going to convince people to become truck drivers — they already are," co-founder and CEO Dan Lewis tells Axios, explaining that his company's contribution is in helping truckers get more work.

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Uber is testing ad displays for its cars

Photo: Justin Sullivan/Getty Images

Some Uber drivers have independently been putting ad displays on top of their cars, but now the ride-hailing company has teamed with startup Cargo for a small test of officially deploying ads to drivers in Atlanta.

Why it matters: This could be a new revenue source for Uber, which has been under heavy pressure to move towards profitability.

Go deeperArrowNov 21, 2019

Uber struggles with 'open secret' of shared driver accounts

Photo: Peter Summers/Getty Images

Since London decided to revoke Uber's operating license, the city's transportation regulator found that 14,000 rides in late 2018 and early 2019 were completed by unverified drivers who had "rented" a real driver's account, the Wall Street Journal reports.

Why it matters: Uber says shared driver accounts are a global problem, including in the U.S. An Uber spokesperson told the Wall Street Journal the company has adjusted its policies in London to combat the issue, but it still not a "silver bullet."

Go deeperArrowNov 28, 2019

London declines to renew Uber's operating license

Photo: Olly Curtis/Future via Getty Images

London's transportation agency declined Monday to renew Uber's license to operate, citing a "pattern of failures by the company including several breaches that placed passengers and their safety at risk."

Why it matters: London is one of Uber's biggest markets, so this is a significant blow to the company.

Uber commentArrowNov 25, 2019