Jul 24, 2019

Uber loses two more board members

Photo: Justin Sullivan/Getty Images

Arianna Huffington and Matt Cohler are stepping down from Uber's board of directors, according to a Wednesday announcement.

Why it matters: Both were closely involved in the company's tumultuous events in 2017.

Huffington often took the lead on Uber's sexual harassment and culture matters. Meanwhile, Cohler took over his firm Benchmark's board seat, after his business partner Bill Gurley participated in the ouster of former Uber CEO and co-founder Travis Kalanick.

  • Wednesday's exits follow that of Ryan Graves, the company's original CEO, in May.

Go deeper: Two top Uber executives are leaving

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Uber lays off 400 out of 1,200 marketing employees

Photo: Justin Sullivan/Getty Images

Uber is laying off 400 employees from its marketing team across 75 offices, the company told the New York Times. Before the cuts, it had about 1,200 marketing employees.

Why it matters: It's not surprising to see Uber attempt to cut costs after a rocky IPO and after its CEO eliminated chief marketing officer Rebecca Messina's position last month. Uber is also reporting its quarterly earnings next week.

Keep ReadingArrowJul 29, 2019

Startup employees spend three times more on Uber than Lyft

While Lyft is slowly growing its share of work-related rides taken by U.S. startup employees, rival Uber commands about 75% of the total, according to data from Brex, which supplies credit cards to startup companies.

Why it matters: Business riders are an important — and lucrative — category of customers for ride-hailing companies. Workers often need transportation when they travel, to get to and from airports, for business meetings, and can be less price conscious since convenience is a high priority.

Go deeperArrowAug 8, 2019

Podcast: Fixing the IPO

When a company goes public, many are quick to celebrate big "pops," or rapid stock price increases. But behind the headlines is big money left on the table, often for the benefit of wealthy Wall Street clients. Dan digs into mispriced markets and solutions with venture capitalist Bill Gurley, whose deals have included Uber, Stitch Fix and Zillow.

Go deeper: Creating the perfect IPO

Keep ReadingArrowJul 25, 2019