Uber to acquire grocery delivery startup Cornershop

Uber will acquire Cornershop, a grocery delivery startup that began life serving the Latin American market and recently shifted to offer service in Toronto, its first North American city. Uber announced on Friday that it expects its acquisition of a majority ownership stake in Cornershop in early 2020, once it receives all the necessary regulatory […]

Uber’s trading debut: who was (and wasn’t) at the opening bell

Uber finally made its debut Friday on the New York Stock Exchange, ending its decade-long journey from startup to publicly traded company. So far, it’s been a ho-hum beginning, with shares opening at $42, down from the IPO price. The share price is hovering just under $44. Thirteen people, including executives, early employees, drivers and […]

‘This is Your Life in Silicon Valley’: NYT’s Mike Isaac discusses his upcoming Uber book, Leaks from Facebook and More

Welcome to this week’s transcribed edition of This is Your Life in Silicon Valley. We’re running an experiment for Extra Crunch members that puts This is Your Life in Silicon Valley in words – so you can read from wherever you are. This is your Life in Silicon Valley was originally started by Sunil Rajaraman and […]

Uber is paying $3.1BN to pick up Middle East rival Careem

After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Uber writes that it expects the transaction to close in Q1 2020, pending […]

In big tech’s future expansion plans, public good should be the corporate incentive

Yung Wu Contributor More posts by this contributor To actually change the world, Big Tech needs to grow up The cancellation of Amazon’s planned expansion in New York exposes the truth about its HQ2 promises. In the end, the company seemed mainly interested in tax incentives and being allowed to make a corner of NYC […]

With SEC workers offline, the government shutdown could screw IPO-ready companies

The government shutdown has entered into day 19, making it the second-longest shutdown in U.S. history. With President Donald Trump slamming his hands down on a table and storming out of negotiations with Speaker Nancy Pelosi and Senator Chuck Schumer earlier today, a fast-approaching end feels unlikely. Hundreds of thousands of federal workers are out […]

Uber’s IPO may not be as eye-popping as we expected

Uber is expected to raise $10 billion later this year in one of the largest U.S. initial public offerings in history. The float will value the ride-hailing giant somewhere between $76 billion — the valuation it garnered with its last private financing — and $120 billion — a sky-high figure assigned by Wall Street bankers […]

5 takeaways on the state of AI from Disrupt SF

The promise of artificial intelligence is immense, but the roadmap to achieving those goals still remains unclear. Onstage at TechCrunch Disrupt SF, some of AI’s leading minds shared their thoughts on current competition in the market, how to ensure algorithms don’t perpetuate racism and the future of human-machine interaction. Here are five takeaways on the […]

Come see Uber CEO Dara Khosrowshahi at TC Disrupt

In the days of Uber 1.0, the ethos seemed to be about doing all the wrong things. Now, with former Expedia CEO Dara Khosrowshahi at the helm, Uber is clearly on its way to becoming a sort of Expedia for transportation. Though, Khosrowshahi has previously likened Uber’s business to aligning more with the idea of […]