As Uber struggles to get out of the hole caused by the Covid-19 pandemic, it has been laying off staff and shifting resources away from groups that don’t immediately prop up its core business. The latest example is a unit called Uber Money, which develops financial services-related products such as a digital wallet for customers and drivers. The move by Uber to decrease its investment in new...
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Instacart’s Bleak Second-Half Outlook: Slower Growth, Lower Profits
Instacart’s first couple of quarters on the public markets could come with slower revenue growth and lower profits than it reported in the first half, according to private forecasts from analysts at banks that underwrote Instacart’s initial public offering this month. The low expectations could further dent Instacart’s stock price, which has still been hovering around its IPO...
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