Lyft Op-ed U.S. Business News Uber 

Uber’s Wheels Are Coming Off amid a $1 Billion Loss

Uber lost a billion dollars in the last quarter, but there is still some decent growth in its business. The problem is Uber won’t make money for a while. | Source: Shutterstock Mega-unicorn Uber reported earnings, or rather losses, on Thursday that demonstrate why hype doesn’t always work in a company’s favor. Let’s hit the headline numbers and explain what they mean for Uber’s stock. Solid Growth Across the Board Just like its rival, Lyft, Uber saw a significant increase in gross bookings. That metric was up 31% to $15.76 billion….

Read More
Bitcoin Regulation Cryptocurrency News facebook Guest Contributor Libra Op-ed Uber 

Facebook, Libra & the Thrilling Rise of the Branded Cryptocurrency

The rise of Facebook’s Libra project ushers in a new era for fintech and heralds the rise of the “branded cryptocurrency.” | Source: Shutterstock It was hard not to feel compassion for Libra chief David Marcus, watching him deal with angry questioning in Congress two weeks ago. The level of distrust in Facebook has reached new highs – some of the Congressmen and Senators replaced questions with blunt criticism aimed at Marcus and the big blue company. Even Marcus, it felt, must have been surprised by the sheer cacophony of…

Read More
bitcoin Crypto Jeff Bezos Opinion U.S. Business News Uber 

Forget Overhyped Billion-Dollar Tech Unicorns, Bitcoin Is the Best Startup Ever

By CCN: 2019 has been the year of the hot tech IPO. Already, Uber, Lyft, Pinterest, and Beyond Meat have headlined the group of new companies coming to market. That’s not all. WeWork, AirBnb, and Slack are among other hot tech companies that are rumored to be listing their shares later this year. Some of the world’s most innovative tech companies were finally an investible proposition for young investors. But there’s a dark side to this tech bonanza. Insiders are cashing out with huge profits while dumping risky, high-priced stock…

Read More
U.S. Business News U.S. Market News Uber 

Uber Braces for $1 Billion Loss in First Quarter as a Public Company

By CCN: Ridesharing powerhouse Uber Technologies (NYSE: UBER) announced last week that it expects to lose $1 billion in its first-ever quarterly earnings report this Thursday. Uber gave shareholders only a week to prepare for the report, and they will be eagerly anticipating Thursday evening’s results. The shortened week ahead has little else in the way of earnings after the Memorial Day long weekend in the U.S. Meanwhile, revenue is anticipated in a range of $3.04 billion to $3.10 billion vs. $2.5 billion in Q1 2018. Its ridesharing business is…

Read More
Elon Musk Op-ed Tesla U.S. Business News Uber 

Why Elon Musk’s Genius Tesla Strategy Will Make Lyft & Uber Obsolete

By CCN: Imagine a world where your autonomous vehicle drops you at the office. Instead of driving to the parking lot, it speeds off to pick up its first passenger of the day. You go about your day while your self-driving car generates passive income. When you’re ready to go, you summon the vehicle to take you home. This is the future that Elon Musk envisions, and it is going to happen sooner than you think. To put it simply, Tesla will render Uber and Lyft obsolete. Tesla – Not…

Read More
IPO SoftBank U.S. Market News Uber 

Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45. Uber IPO Leaves Mighty Wake The Saudi Arabian fund, which is…

Read More
Benchmark U.S. Business News Uber 

California VC Turns $9 Million into Eye-Popping $6.9 Billion in Uber IPO Jackpot

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. According to WSJ tech editor Scott Austin, Benchmark, a San Francisco-based venture capital firm, invested $9 million in Uber’s Series A round in 2011. At the proposed IPO price of…

Read More