Billionaire hedge fund manager Bill Ackman said he confronted the CEO of Uber after his cab driver accused the ride-sharing app of not allowing him to keep tips. Ackman, the founder and CEO of Pershing Square Capital Management, wrote on his X social media account on Wednesday that he ordered a yellow cab in Manhattan via the Uber app because he thought "good for Uber supporting the cabbies." "I asked the driver about his experience with Uber and he surprised me by saying it was bad," Ackman wrote to his mo ...

"On-demand delivery is now a core expectation for consumers, with 75% of them expecting express delivery as an option, and merchants are taking note," said Bernie Huddlestun, Head of Uber Direct for the US and Canada. "We're proud to partner with Lightspeed to offer restaurants solutions that meet their customers' needs and encourage repeat orders, while giving restaurants the flexibility to offer seamless delivery experiences in the way that works best for growing their business." This integration is now a ...

Autonomous vehicles could transform the ride-sharing industry in the coming decade. Uber collected $37.7 billion in bookings for those trips during the quarter, of which $16.6 billion was paid to its drivers -- the company's single largest expense. After stripping out other direct costs, including the money paid through to restaurants for their Uber Eats orders, Uber was left with $10.1 billion. When we move further down the income statement and account for operating costs like research and development and ...

Minnesota lawmakers passed a bill Sunday that aims to increase the pay rate for rideshare drivers and Lyft. Lyft responded to the legislation by saying the company found enough common ground to prevent it from exiting the state. "We have long supported a minimum earnings standard and increasing driver pay in smart, deliberate ways, which is why earlier this year we announced a new commitment where drivers will always make at least 70% of the weekly rider fares after external fees," a spokesperson for Lyft s ...

ST. PAUL, Minn. — A plan to boost pay for Uber UBER, -0.58% and Lyft LYFT, -1.95% drivers in Minnesota that lawmakers believe would prevent the companies from leaving the market advanced in the state Legislature on Sunday, hours before the deadline for lawmakers to pass bills before they adjourn. The plan that gained approval in the House was crafted by Democrats to replace a minimum pay measure the Minneapolis City Council passed that prompted Uber and Lyft to threaten to leave the state's biggest city. Th ...

This growing tech enterprise has accomplished so much in its short history. Since the start of 2023, both the S&P 500 and Nasdaq Composite Index have put up tremendous gains. This favorable market backdrop has helped lift certain businesses much higher than others. Uber (UBER -0.57%), for example, has soared 168% during that time. It's currently sitting at 20% off its peak price, but investor enthusiasm is still high toward this company. Can this growth tech stock continue its ascent to reach a $1 trillion ...

Another strong quarterly report for this business demonstrates solid demand. The internet has changed how people can work and earn money. And perhaps no other business exemplifies the rise of this so-called gig economy quite like Uber (UBER -0.57%) does. This tech-forward ride-hailing and delivery outfit has become a massive $138 billion business in 15 years. But it hasn't been a smooth journey. Shares are down 20% from their all-time high (as of May 15), a milestone achieved in February this year. Is there ...

As consumers increasingly look for guidance from trusted friends and content creators to inform their shopping, Uber is integrating a social element into its Eats platform. On Wednesday (May 17) the mobility and delivery company announced a range of new features at its GO-GET 2024 event, including its Uber Eats Lists feature, which enables users to share curated recommendation lists with people within their social network and beyond. "At Uber Eats, we're obsessed with food. And we know that food has the pow ...

Costco Wholesale Corporation (NASDAQ: COST) is trading at an all-time high after Uber Eats teamed up with the retail behemoth on Thursday. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins. Details of Costco-Uber partnership Copy link to section Users can now have groceries and other merchandise delivered from Costco via Uber Eats. Members of the wholesale club will get better pricing as well as a 20% discount on Uber One. $COST is now trading at a forw ...

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