Less than a week after a disappointing IPO, Uber is taking the guesswork out of whether to make friendly banter during your rides with a new “quiet” option on the app – the latest move from the tech world to digitize human interaction.
Uber drivers are not subject to traditional labor protections because they are independent contractors, the National Labor Relations Board said in an opinion published on Thursday.
The chief executive of Uber has urged employees to ignore “pessimistic voices” after shares in the company slumped again on their second day of trading since Friday’s disappointing stock market debut.
Uber’s stock market debut came with all the usual razzmatazz of a big American technology IPO. The chief executive spent weeks making sweeping statements about how the business was “just getting started” and had new worlds to conquer – everything from pizza delivery to international freight. In the background, investment bankers whipped up buyers for…
Uber’s hopes of a surge in the price of its shares have fallen flat, as investors gave the taxi-hailing app’s eagerly anticipated stock market float a frosty reception by sending the shares below their launch price.
Uber is seeking a valuation of $82.4bn, less than the $100bn it was hoping for, but still making it one of the largest IPOs of all time, and one of the most hotly anticipated stock market listings in the tech world since Facebook made its Wall Street debut seven years ago.
Serf, noun: a laborer bound under the feudal system to work on his lord’s estate. Uber is a lot. Last year 5.2 billion people took a ride in an Uber. And the company lost an average of 58 cents on each ride.
Uber and Lyft are offering riders and drivers discounts and incentives to use the app on Wednesday as drivers seeking better wages strike across the US. Uber drivers are shutting off apps in protest across more than a dozen US cities as the company prepares to go public, demanding better pay and more protections. To…