Jan 21, 2020

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.

Uber has shed other units in the past couple of years such as its Southeast Asian business, and made its self-driving car unit into a separate subsidiary which took in outside capital last year.
Some outlets report that Uber Eats India accounted for just 3% of the company's global food delivery gross bookings ad at least 25% of its adjusted operating loss.

Flashback: In 2018, Uber considered acquiring Swiggy, another big rival in India, though the talks never turned into a deal.

Go deeper: Uber sells Southeast Asia business to rival Grab

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Ben Geman

Uber's new London move with Nissan on electric vehicles

Photo: Smith Collection/Gado/Getty Images

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

The big picture: Electrifying vehicles used by mobility services is important for keeping emissions from ride-hailing in check as it grows.

Go deeperJan 24, 2020

Kia Kokalitcheva

Uber's 2019 Q4 was slightly better than analyst expectations

Photo: DENIS CHARLET/AFP via Getty Images

Uber posted its fourth quarter results on Thursday, slightly exceeding analyst expectations, giving its stock a small price bump after market close.

Why it matters: Uber has not only been under growing pressure to show it can turn a profit sooner than later, but the company is facing new regulations in California that threaten its classification of drivers as contractors, instead of employees.

Go deeperFeb 6, 2020 - Economy & Business

Axios

How Uber, Lyft made traffic worse

Photo: Smith Collection/Gado/Getty Images.

Ride-sharing companies aren't the traffic solution they'd once hoped to be, the Wall Street Journal reports.

The big picture: "Multiple studies show that Uber and Lyft have pulled people away from buses, subways and walking, and that the apps add to the overall amount of driving in the U.S.," per the Journal.

Go deeperFeb 17, 2020 - Economy & Business