Don’t tell the black cabs: Brits can’t get enough of Uber as UK profits and revenues double in 2015 October 10, 2016 Uber drivers in the UK raked in more than £100m in fares last year, doubling revenues and profits at the disruptive transport app. The taxi service's holding company in Britain, Uber London, recorded a 105 per cent uplift in turnover to £23.3m in 2015, according to records filed on Companies House. This was up from [...]
Deliveroo just raised $275m to fend off Uber August 5, 2016 Deliveroo, the London-based food delivery startup whose bikes are swarming the capital, has just raised another $275m (£209m) in an effort to ward off a growing threat from Uber. The company said the Series E investment round was led by Bridgepoint, existing investor DST Global and General Catalyst, with participation from Greenoaks Capital. The company said [...]
Business and entrepreneurs pile pressure on Sadiq over Uber red tape August 14, 2016 Business groups and entrepreneurs have piled the pressure on the Mayor of London Sadiq Khan, warning that new rules clamping down on Uber will stifle innovation in the capital and its multi-billion pound digital economy as he attempts brand the city "open for business". New rules have drawn the ire of business groups and tech entrepreneurs, who labelled them a backwards step that threatened the [...]
UK artificial intelligence startup FiveAI lands £14m series B from Lakestar Capital, an early Facebook and Spotify backer September 6, 2017 The venture fund set up by an early backer of Facebook, Spotify and Skype has invested millions in a UK artificial intelligence startup that is planning on getting driverless cars on the road. Lakestar Capital has led the £14m series B round into FiveAI, the company working with Mclaren technologies and Transport for London on [...]
TfL launches London walking challenge to encourage more people to navigate the capital on foot August 5, 2017 Transport for London (TfL) is challenging Londoners to get off the tube or out of their Uber and tackle the capital on foot. To celebrate 10 years since the “Legible London” street signs, the blue information boards which show maps of the surrounding area, walkers are being asked to have a go at visiting as [...]
Uber’s hungry for even more cash with plans for $2bn leveraged loan June 15, 2016 Thought the most highly valued private tech company in the world had enough money to throw around? Apparently, it doesn't. Uber is rounding up another $2bn (£1.4bn) to its already pretty huge cash mountain in its bid for world domination, but this time it's tapping the cash via a leveraged loan. Read more: Apple's favourite Chinese Uber rival [...]
Uber’s driverless cars have hit the roads May 19, 2016 Uber is the latest company to get its driverless car plans into gear, with test vehicles hitting the roads of Pittsburgh, the location of its Advanced Technologies Centre. The billion dollar startup is embracing more technology with Ford Fusion cars which drive themselves. The head of the research centre John Bares told the Pittsburgh Tribune [...]
Don’t fall for the Uber hype – London needs a common sense approach to taxis August 25, 2016 The lavishly resourced Uber PR machine has cranked into gear once again – with a blizzard of activity attempting to obstruct Transport for London's eminently sensible new rules for regulating the taxi industry in London. Quite why Uber are huffing and puffing as much as they are is anyone’s guess: TFL – the industry's regulator – [...]
London mayor Sadiq Khan writes to Uber and other private hire drivers setting out his commitment to the industry September 23, 2016 London mayor Sadiq Khan has written to tech firm Uber in response to its email campaign about the future of the capital's taxi and private hire industry. Transport for London (TfL) plans to introduce new rgulations for the sector including a requirement that private hire vehicles have "hire and reward" insurance in place for the duration of the licence, [...]