Tag Archives: Uber

Russian Billionaire Makes $200 Million Investment in Uber

Russian billionaire Mikhail Fridman’s LetterOne investment vehicle said on Friday it had made a $200 million (roughly Rs. 1,361 crores) investment in US ride-hailing service provider Uber Technologies Inc. It did not specify when it bought the shares or what stake it had acquired in the firm, which has previously raised more than $5 billion (roughly Rs. 34,039 crores) in ... Read More »

Uber Agrees to Settle ‘Safe Rides Fee’ Lawsuit for $28.5 Million

Uber has agreed to pay $28.5 million to settle litigation brought by customers who alleged the ride hailing service misrepresented the quality of its safety practices and the fees it charged passengers, the company said on Thursday. The two proposed class action lawsuits said Uber charged passengers a “Safe Rides Fee” of as much as $2.30 per trip to support ... Read More »

Uber vs Ola in India: How Do They Stack Up?

It’s hard to believe that a company whose only product is an app on your phone that calls taxis it doesn’t even own, is valued at $62.5 billion (approximately Rs. 4,19,562.5 crores). Uber’s business model depends on being the middleman between the taxi driver and the rider, and managing transactions on the app. Doing this, Uber has scaled globally to ... Read More »

Kenya Taxi Rivalry Turns Violent Over Uber

When driver service Uber launched in Kenya’s tech-savvy capital, it was eagerly welcomed by many in Nairobi. But the taxi app has faced a violent backlash from traditional cab drivers angry at the new competition, with Uber drivers and cars attacked. “A car came in front of me, blocked my access from the exit. A few guys came out and ... Read More »