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Uber’s Surging Food Delivery Business Mitigated Rides Decline From Covid-19

Uber on Thursday said its overall gross bookings were down 40% overall in April, compared to a year earlier, reflecting how its surging food-delivery business has lessened the pain of losing 80% of its core ride-hailing business in the same period. “Rides-only players were disproportionately impacted,” CEO Khosrowshahi said during a first-quarter results conference call. That is a reference to...

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The Investors Who Face Big Losses From the Quibi Collapse
The Investors Who Face Big Losses From the Quibi Collapse

On Wednesday, video startup Quibi told its investors that it will shut down, a dramatic collapse of a digital media startup that launched just six months ago. Now those investors—from Quibi CEO Meg Whitman to Google, Facebook and J.P. Morgan—are facing losses and figuring out what they may recoup from the flop.

Quibi revealed to investors Wednesday afternoon that, after paying ...

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