Uber is moving ahead with its initial public offering (IPO), filing paperwork with the Securities and Exchange Commission (SEC) in the US last week. The Financial Times, citing people familiar with the matter, reported Uber is joining Lyft, its ride-hailing rival, in filing the paperwork with the SEC, setting the stage for the two to […]
Ride-hailing company Lyft beat bigger rival Uber Technologies in filing for an initial public offering that will test investor appetite for high-profile but loss-making technology companies, reported the Wall Street Journal. The company, which was last valued at about $15 billion, did not specify the number of shares it was selling or the price range […]
The Competition Commission of India (CCI) on Tuesday, November 6, rejected allegations of price fixing against app-based taxi service providers Ola and Uber, stating that drivers acceding to “algorithmically determined prices” by the platforms does not amount to collusion between them. In a 13-page order, the CCI also dismissed complaints that Ola and Uber are […]
Grab Philippines announced on Friday, October 26, it will file a motion for reconsideration with the Philippine Competition Commission (PCC) over the 12 million pesos (US$222,586) fine the antitrust body imposed on the company over its acquisition of Uber operations here. In a statement, Miguel Aguila, Grab Philippines lead legal counsel, said, “We respectfully disagree […]
The Board of Directors of the Egyptian Competition Authority (ECA) issued several temporary measures aimed to protect the gains resulting from the existing competition between Uber and Careem as well as to prevent adverse effects which may arise from the effect of any planned agreement or contract that might influence the competition between both companies. […]
On Monday, October 22, Uber announced it will appeal a decision by Singapore’s antitrust watchdog that its merger with Grab violated the city-state’s competition laws, reported Reuters. Last month, Competition and Consumer Commission of Singapore (CCCS) slapped a US$9.5 million combined fine on Uber and Grab, ruling that the former’s takeover of the latter’s Southeast Asia operations […]
The Philippine Competition Commission (PCC) has slapped a 12 million peso (US$222,563) fine on ride-hailing platform Grab and another 4 million peso (US$74,190) fine on its former rival Uber for violating the anti-trust watchdog’s orders regarding their merger. In August, the PCC approved Grab’s acquisition of its rival Uber subject to several conditions such as improved […]
Uber Technologies won a legal victory on Tuesday, September 25, as a federal appeals court decided decided drivers seeking to be classified as employees rather than independent contractors must arbitrate their claims individually, and not pursue class-action lawsuits. In a 3-0 decision, the 9th US Circuit Court of Appeals in San Francisco reversed a lower […]
Ride hailing service Uber agreed to pay a US$148 million penalty over a massive 2016 data breach which the company concealed for a year, the company and state officials announced Wednesday, September 26. The agreement stems from a breach affecting some 57 million Uber riders and drivers disclosed by the California company, prompting litigation that […]
Grab and Uber were slapped with fines and restrictions after the Competition and Consumer Commission of Singapore (CCCS) concluded the merger between the two resulted in higher prices. Reuters, citing the CCCS, reported the combined US$9.5 million in fines was small compared to the companies’ valuations; it, along with other measures, marks the largest actions […]