Uber recently announced that it has allocated $1 billion to expand its operations in China. Like that is not big enough, the company will also be setting aside another $1 billion to strengthen its business in India.
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Lyft Officially Operates their Ride Services at McCarran Airport in Las Vegas
Ride sharing app Lyft has conquered Las Vegas as the car service is now available at the McCarran Airport. Hail as the first ride sharing car service to establish at the said new location, Lyft has snatched the first-based spot from their competitor, Uber.
Uber-like startup, Yidao Yongche receives $700M of investment
China uber-like startup, Yidao Yongche announced that the company will be receiving a huge investment from a Beijing-based company, LeTV. According to Yidao Yongche's statement, the three-year-old company is receiving investment worth $700 million by LeTv for 70 percent stake in the ride-hailing app company.
4 signs indicate Silicon Valley's tech bubble bursting
What matters the most in investing is the time when you exit. Loss or profit depends upon when you exit. If you can identify the bubble bursting, you can safely walk out of the market well before it happens. The tricky question is how to identify the market before it's blowing up. Investors, who made and lost money in dotcom bubble, fear that history may be repeated for the current tech bubble though the damage wouldn't as much as it was in dotcom crash.
Lyft teams up with Hertz, Shell
The San Francisco-based ride-hailing company Lyft has teamed up with Hertz Global Holdings Inc for offering rental cars to its drivers. Hertz offers car rentals on daily, weekly and monthly basis and now these services will be available as part of the agreement with Lyft, which offers rental cars to drivers who don't have their own cars or meet Lyft standards. On a pilot basis, Lyft plan with Hertz is available for drivers in Las Vegas and it will expand this plan to other locations soon. Lyft has also partnered with Shell for providing gasoline at discounted price to its drivers.
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Gett, one of Uber's biggest competitors, launched Monday its first big campaign against its competitor, Uber, which claims is ripping people off through its surge pricing.
Nokia bids goodbye to its digital maps business as it sells its HERE maps unit to German carmaker consortium among BMW, Audi, and Mercedes-Benz's owner Daimler, to focus on making mobile-phone network equipment.
France is rethinking its taxi laws with the rising demand for Uber and other online ride-hailing services. France's Economy Minister Emmanuel Macron says key players are meeting next month to re-examine the industry's economic model.
German auto makers consortium composed of Audi, BMW, and Daimler, parent company of Mercedes-Benz, is reportedly in the final stages of discussion to acquire Nokia HERE, the mobile company's map app, for roughly €2.5 billion or $2.7 billion.
Google's android update has been equipped with several new features taking the smart watches further up on the value chain. Android wear watches update is available with Moto 360, LG G Watch R, Samsung Gear Live, Sony Smart watch, etc. The rolling out of android wear update is being expanded gradually to other devices.
A Google subsidiary has started a carpooling program Monday in Tel Aviv. Israel-based mapping and navigation provider Waze, which was acquired by the Internet giant in 2013, will handle the project.
Google-owned online mapping company Waze is launching a carpooling pilot program in Israel where commuters pay fellow drivers a small fee for a ride to and from work.
Microsoft Corp (MSFT.O) said on Monday it will hand over its display advertising business to AOL Inc and AppNexus Inc, and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations.
US-based ride-sharing company Uber and its local rival Ola's licence applications has been rejected by the Delhi government, according to Reuters.
