European tech startups could reach $50bn valuations within the next few years, if they take the right steps July 5, 2018 Only six companies have managed to reach $50bn (£38bn) valuations since the turn of the millennium, and none of them were founded in Europe. So what does it take for a startup to become a tech titan? Firstly, a large gap remains between titans – companies founded after 2000 and valued at $50bn or higher [...]
Uber is withdrawing from Denmark, blaming tough new regulations March 28, 2017 Uber is closing its operation in Denmark, after it said new rules due to come into force in the country will make its operation “untenable”. A spokesman confirmed the ride-hailing app is withdrawing from the country, saying new regulations set to be introduced in the country shortly cap the number of licences issued to drivers [...]
Transport for London fears wider travel changes impact on passenger numbers as it faces near £1bn deficit February 13, 2018 Transport for London (TfL) has raised concerns falling passenger numbers could be part of a wider change in travel, according to internal documents seen by City A.M.. The capital’s transport body, known as TfL, finds itself at the centre of a political storm after forecasting a near-£1bn deficit, as it deals with lower-than-expected fare revenues. [...]
Minicab drivers protest outside TfL headquarters over ‘institutional racism’ May 3, 2018 Minicab drivers have launched a surprise flash demo at Transport for London’s (TfL) headquarters today to protest against “institutional racism”. The United Private Hire Drivers (UPHD) branch of the Independent Workers Union of Great Britain (IWGB) has accused TfL of pushing policies that have added “crushing new costs” to drivers such as regulations including additional [...]
Trading places: Monzo co-founder takes a back seat to make way for a new CTO as international expansion plans get put on the backburner June 28, 2018 Monzo co-founder and soon-to-be former chief technology officer Jonas Huckestein is making way for a new kid on the block, as business printing house Moo’s CTO Meri Williams joins the team. Speaking to City A.M. ahead of the announcement, Williams explained that while there’s nothing at Monzo she wants to change or do differently, she’s [...]
Tuck in: UberEats is expanding to more areas in London March 2, 2017 Uber is expanding its food delivery service, UberEats, to more areas in London. Hungry West Londoners will now be able to order food from restaurants in the area straight to their door. After launching last summer serving zones 1 and 2 in central London, from today it will be available in Ealing, Wembley, Acton and Hounslow, south Richmond, Kingston [...]
Deliveroo wins case confirming delivery riders are not workers November 14, 2017 Meal delivery app Deliveroo has won a case in the Central Arbitration Committee (CAC) to confirm that its delivery riders are not “workers”. The Independent Workers Union of Great Britain (IWGB) had sought to argue that riders were workers so that they could claim union recognition. This would also have afforded them certain rights, such [...]
Uber president Jeff Jones quits after six months in role March 19, 2017 Uber president Jeff Jones has quit his role after little more than six months in the job, the car hailing giant has confirmed. A spokesperson for the firm said: “We want to thank Jeff for his six months at the company and wish him all the best.” Second in command at the car hailing firm to Travis Kalanick, Jones [...]
Telegram ICO: Aim-listed TMT Investments backs WhatsApp rival’s token sale in first blockchain investment February 21, 2018 An investment firm listed on London’s alternative market has invested in the initial coin offering of messaging app Telegram. TMT Investments, which is a backer of Uber rival Taxify among other tech firms, revealed it’s one of a number of investors to back Telegram’s token pre-sale. The ICO has already raised $850m before it becomes [...]
Softbank plots digital payments raid with plans for Paypal rival January 28, 2018 Japanese technology giant Softbank is planning to create a global digital payments system that could rival giants such as PayPal, according to reports. The tech firm will lead a consortium back by some of the world’s biggest banks, City sources told the Sunday Times. Entering the global finance industry is seen as a key strategic [...]