Register

I agree with the Privacy Policy

In The News

Uber aims to be uber-funded by expanding funding round by $1B

February 17, 2015

Venture capitalists' recent investments in Uber "underscore the confidence investors have in Uber's growth," an Uber spokeswoman said. She said additional funding will be geared toward its car-pool feature, which is dubbed UberPool, and launching its service in more cities around the world. The company is currently in more than 260 cities in 54 countries.

Uber is under pressure to introduce new services, such as UberPool, and to do so while continuing its international expansion. "These are all expensive options and Uber can use all the cash it can get," said Parks Associates analyst Tejas Mehta.

Investor interest in Uber comes despite waves of bad publicity over the past few months. Critics have said Uber unfairly competes with its rival Lyft. The company has also battled regulators in the US, Asia and several countries in Europe. Additionally, some of its drivers have allegedly attacked passengers, raising concerns about whether driver background checks are strict enough.

From the article "Uber aims to be uber-funded by expanding funding round by $1B" by Dara Kerr.

Previously In The News

After Uber's stumble, is it Lyft and Sidecar's time to shine?

Parks Associates analyst Tejas Mehta agrees the bad press won't change much unless Lyft and Sidecar add more investors and find a new way to stand out. "Lyft has been competing with Uber on pri...

Roku still tops as sales of streaming-media players rise

Streaming-media devices continue to grow in popularity amid swiftly shifting competition, according to a new report. During the first three quarters of 2014, 10 percent of US households with a...

Apple TV's YouTube app gets a rare overhaul

Meanwhile, over-the-top boxes like Apple TV are surging in popularity. Research group Parks Associates estimates sales of such streaming-media devices will top 57 million worldwide in 2018, nearly...

Amazon and GameFly get their streaming game on

For Amazon, the introduction of the exclusive service could help it gain more attention in the crowded market of streaming-media players, where it remains a second-tier player. Rival Roku is the le...

‹
1
2
3
4
5
6
7
8
9
10
...
41
42
›