Watch: Uber Is Preparing To Clean Up The Financials For An IPO
Uber is preparing to sell its Southeast Asia business to Singapore’s Grab in exchange for a sizable stake in the company Grab provides private car, motorbike, taxi and carpooling services in more than 100 cities across Southeast Asia. The company claimed to have 95 percent market share in taxi ride-hailing The objective would be to help Uber reel in its costs in preparation for an IPO as soon as next year Uber CEO Dara Khosrowshahi has focused on cleaning up the company’s battered reputation and instilling financial discipline to push toward profitability. A tie-up with Grab would also play into SoftBank’s efforts to exert greater control over the global ride-sharing market. SoftBank also owns shares in Grab, Didi, India’s Ola and Brazil’s 99, and has publicly expressed interest in Lyft. An Uber investor told Reuters that shutting its Southeast Asia unit would allow the company to “print money” and make an IPO more realistic.
Rugged Edge Computing for Tough Environments Follows Shift Away from the Cloud
At ISC West 2023, Premio showcases how Rugged Edge Computing can easily stand up to the toughest industrial workloads in the harshest environments without missing a beat. Many trends are shaping the modern security market with a strong focus on rugged hardware such as smart sensors. There is a shift away from the cloud […]
DTC Brands Struggle to Adapt With 2023 Consumers: Brand Trust and Flexibility is Necessary
Selling directly to the consumer buying your products can be incredibly profitable for a business, so why don’t all businesses sell directly to consumers? The simple answer is that there are many risks and challenges that come with running a direct-to-consumer (DTC) business, and the risks do not always pay off. The success […]
Voice AI: Changing the Sound of Restaurants and Transforming the Ordering Experience
Takeout and delivery are as much the fabric of restaurants today as a room full of diners. During the pandemic, many restaurants may not have made it out the other side without takeout and delivery services. Still, staffing shortages are a significant issue for most restaurants after the pandemic. Finding the balance between handling orders […]