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Tuesday, August 4, 2020
Travis Kalanick quits Uber’s board, sells off all his Uber stock

Travis Kalanick quits Uber’s board, sells off all his Uber stock

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Enlarge / Travis Kalanick in 2018.Elijah Nouvelage/Getty Images Travis Kalanick is leaving the board of Uber, the company he cofounded a decade ago and ran until his 2017 ouster. A spokesperson told CNBC that Kalanick has sold all of his remaining Uber stock, estimated to be worth around $2.5 billion. Three years ago, Kalanick was…
Uber CEO minimizes Khashoggi murder, then strolls back his remarks

Uber CEO minimizes Khashoggi murder, then strolls back his remarks

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Enlarge / Uber CEO Dara Khosrowshahi. Michael Nagle/Bloomberg via Getty Images In an interview for the Axios HBO show, released Monday morning, Uber CEO Dara Khosrowshahi seemed to downplay last year's death of Washington Post columnist Jamal Khashoggi. The CIA concluded that Saudi crown prince Mohammed bin Salman ordered Khashoggi's assassination. "It's a serious mistake," Khosrowshahi said. "We've made…
Uber lays off another 350 employees in the middle of continuous losses

Uber lays off another 350 employees in the middle of continuous...

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Enlarge / Uber CEO Dara Khosrowshahi. Uber is laying off another 350 workers, the company announced on Monday. Uber Eats and Uber's self-driving car team are among the divisions hit by job losses. TechCrunch obtained a copy of an email CEO Dara Khosrowshahi sent to Uber workers. It describes the layoffs as "difficult but necessary…
Tech IPO injury report: A few of the greatest names in tech have actually taken a pounding after going public this year

Tech IPO injury report: A few of the greatest names in...

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It's been a busy year for IPOs, with big names like Uber, Pinterest, and Slack all making their market debuts. It's also been a year of mixed fortunes for public offerings. Some companies, like video conferencing startup Zoom Technologies are trading well above their opening price. Others, like ride-hailing company Lyft, have been underwater since…
Uber, losing billions, freezes engineering hires

Uber, losing billions, freezes engineering hires

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Enlarge / Dara Khosrowshahi, shown here in 2013, is CEO of Uber. Matthew Lloyd/Bloomberg via Getty Images Uber is freezing hiring for software engineers and product managers across its US and Canadian workforce, the company acknowledged to Bloomberg on Friday. The shift was reported by Yahoo earlier in the day. The freeze does not apply…
Uber’s no-good, terrible-rotten bad Q2 loses more than $5 billion

Uber’s no-good, terrible-rotten bad Q2 loses more than $5 billion

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Enlarge / Headquarters of ride-sharing technology company Uber in the South of Market (SoMa) neighborhood of San Francisco on October 13, 2017. Uber lost more than $5 billion dollars in the second quarter of the year. This is the latest in a long series of bad quarters for the ride-hailing company, which also lost over…
Behind the 12- year-old Wii Sports scam that quickly tricked the Web

Behind the 12- year-old Wii Sports scam that quickly tricked the...

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Before his resignation in late 2017, Uber's then-CEO Travis Kalanick faced more than his fair share of scandals. But by far the most (read: least) important of these was Kalanick's oft-repeated claim that, at one point, he "held the world’s second-highest score for the Nintendo Wii Tennis video game," as a New York Times profile…
Uber reports $1 billion loss in very first post-IPO quarterly outcomes

Uber reports $1 billion loss in very first post-IPO quarterly outcomes

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Enlarge / Uber CEO Dara Khosrowshahi. Uber lost slightly more than $1 billion in the first three months of 2019, the company announced on Thursday. It's Uber's first quarterly earnings release since the company went public earlier this month. Uber's loss wasn't a surprise—indeed, it was right in line with expectations. Wall Street shrugged off the…
Uber suffers frustrating stock exchange launching

Uber suffers frustrating stock exchange launching

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Enlarge / Uber CEO Dara Khosrowshahi. Michael Nagle/Bloomberg via Getty Images Uber's long-anticipated debut on public stock markets failed to live up to expectations on Friday, with the company's stock falling 7.6 percent during its first day of trading. As the closing bell rang, Uber's stock was worth $41.57, valuing the entire firm at $76…
Why arranging Uber and Lyft chauffeurs is a huge obstacle

Why arranging Uber and Lyft chauffeurs is a huge obstacle

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Enlarge / Headquarters of ride-sharing technology company Uber in the South of Market (SoMa) neighborhood of San Francisco on October 13, 2017. Lyft and Uber drivers around the world are striking on Wednesday to protest low pay, arbitrary terminations, and other concerns. The protest comes just before Uber's debut as a publicly traded stock on…

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