Recent stories about Uber/Lyft

DoorDash CEO Tony Xu talking at a conference in 2019. Photo by Bloomberg.

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DoorDash Passes Uber in Market Cap—And What That Means

By Martin Peers · Sept. 16, 2021 5:00 PM PDT

DoorDash shares today hit their highest level since the company went public last December. At $221.50, DoorDash shares are worth more than double the IPO price, valuing the company at $74.8 billion in market cap. For those who see life as a contest, that means DoorDash is worth a tad more than Uber, which is a significantly bigger and more... DoorDash shares today hit their highest level since the company went public last December. At...

Ola Electric's launch of its S1 scooter in Bengaluru, India, on Aug. 15. Photo: Samyukta Lakshmi/Bloomberg

uber/lyft electric vehicles

Indians Are Snapping Up Electric Vehicles—Just Not the Ones Major Automakers Are Selling

By Steve LeVine · Sept. 12, 2021 2:00 PM PDT

For three decades, the world’s major automakers have been piling into India, tantalized by a teeming population of consumers with rising incomes and relatively few passenger vehicles. In the new age of electric vehicles, the country’s allure has been even greater, representing the last big and all but untapped EV market on the planet. But all of... For three decades, the world’s major automakers have been piling into India, tantalized by a...

An Allbirds store in San Francisco. Photo by Bloomberg

uber/lyft e-commerce

AllBirds and Warby Parker Pose Test of Investor Appetite for Consumer Brands

By Martin Peers · Aug. 31, 2021 5:00 PM PDT

Allbirds’ IPO filing today, a week after Warby Parker filed to go public, means that we’re going to have two big consumer brand names hitting the public market in the last few months of the year. It will be something of a parallel to the end of 2020, when shares of DoorDash and Airbnb began trading on Wall Street. Not that investors are likely... Allbirds’ IPO filing today, a week after Warby Parker filed to go public, means that we’re going...

A DoorDash delivery person. Photo by Bloomberg

What Instacart’s Failed Deal Outreach Reveals

By Martin Peers · Aug. 11, 2021 5:00 PM PDT

A DoorDash delivery person. Photo by Bloomberg

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What Instacart’s Failed Deal Outreach Reveals

By Martin Peers · Aug. 11, 2021 5:00 PM PDT

It’s becoming clear that Instacart over the past six months or so has been a company in an almost constant state of turmoil. Our story today that Instacart initiated talks both with DoorDash—looking for a merger—and Uber—looking for a sales partnership—is an extraordinary insight into the challenges Instacart faces.We already knew that Instacart... It’s becoming clear that Instacart over the past six months or so has been a company in an almost...

Dara Khosrowshahi, CEO of Uber. Photo by Bloomberg

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FTC Investigating Uber’s Gopuff Partnership Alongside Drizly Deal

By Josh Sisco and Mark Di Stefano · Aug. 10, 2021 3:45 PM PDT

The Federal Trade Commission is scrutinizing a partnership struck in May between Uber and Gopuff that allows people to order items from Gopuff through the Uber Eats delivery app, according to two people familiar with the matter and a document seen by The Information. The FTC is looking to see whether the agreement could hamper competition in... The Federal Trade Commission is scrutinizing a partnership struck in May between Uber and Gopuff...

A Lyft drivers hub in San Francisco. Photo by Bloomberg

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Lyft’s Pandemic Is Far From Over

By Martin Peers · Aug. 3, 2021 5:04 PM PDT · 2 comments

After the rush of the advertising-based internet firms reporting blockbuster growth, we’re coming down to earth this week with the ride-sharing companies Lyft and Uber reporting their second-quarter results. The verdict, at least so far: meh. Lyft went first today, reporting 125% growth in revenue from last year’s pandemic-crushed second... After the rush of the advertising-based internet firms reporting blockbuster growth, we’re coming...

Microsoft CEO Satya Nadella. Photo by Bloomberg.

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Microsoft’s Dubious Cloud Growth Tactic

By Martin Peers · July 30, 2021 5:00 PM PDT · 4 comments

One of the more eyebrow-raising stories of this week, in a week full of big tech news, was that Microsoft is considering investing in India-based hotel chain Oyo. If true—and Microsoft declined to comment on the report, which appeared first in TechCrunch—it would be a truly bizarre use of the software giant’s cash resources. Forget, for a... One of the more eyebrow-raising stories of this week, in a week full of big tech news, was that...

Snap CEO Evan Spiegel. Photo by Bloomberg

Snap, Twitter Show Digital Ad Market is Booming

By Martin Peers · July 22, 2021 4:59 PM PDT · 1 comment

Snap CEO Evan Spiegel. Photo by Bloomberg

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Snap, Twitter Show Digital Ad Market is Booming

By Martin Peers · July 22, 2021 4:59 PM PDT · 1 comment

Digital advertising was on fire in the second quarter, judging by results from Twitter and Snap today. That implies next week’s reports from Facebook and Alphabet could be even stronger than anticipated.Snap reported a stunning 116% top line increase, lifting its quarterly revenue to nearly $1 billion dollars. That means Snap’s growth rate has... Digital advertising was on fire in the second quarter, judging by results from Twitter and Snap...

Didi's Beijing offices. Photo by Bloomberg.

The Real Lesson of Didi Global’s Stock Drop

By Martin Peers · July 6, 2021 5:00 PM PDT

For a brief moment last week, it looked like Chinese ride-hailing firm Didi Global was going to get away with a more successful IPO than that of its U.S. counterparts Uber and Lyft two years ago. That was until the Chinese government, with a weekend edict about data security, reminded the company who’s really in charge, lopping 20% off the value... For a brief moment last week, it looked like Chinese ride-hailing firm Didi Global was going to...

Illustration by Jesus Escudero

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The Information’s Nine Books for Summer

By The Information Staff · July 5, 2021 7:01 AM PDT · 3 comments

A novel about trees as the new zeitgeist. A portrait of a volatile Saudi Arabian monarch who is also a tech investor. A 25-year-old doorstop of a book from David Foster Wallace, which we belatedly and joyfully rediscovered. These are among the fiction and nonfiction treasures that have engrossed The Information staffers recently. We think any of... A novel about trees as the new zeitgeist. A portrait of a volatile Saudi Arabian monarch who is...

Didi's office in Hangzhou, China. Photo by Bloomberg.

Didi’s Uninspiring Public Debut

By Martin Peers · June 30, 2021 5:00 PM PDT · 3 comments

Executives at Chinese ride-hailing giant Didi Global can relax. The company went public on the New York Stock Exchange today and, hey, it went up! Not by much—1%—but that’s better than Uber achieved two years ago. Yes, when it comes to ride hailing and Wall Street, the bar for success is low.You can’t blame investors for being dubious about the... Executives at Chinese ride-hailing giant Didi Global can relax. The company went public on the...

SoftBank CEO Masayoshi Son. Photo by Bloomberg

SoftBank’s $12 Billion Bet on Didi Returns 14%

By Amir Efrati, Juro Osawa and Shai Oster · June 30, 2021 2:31 PM PDT · 2 comments

SoftBank CEO Masayoshi Son. Photo by Bloomberg

SoftBank’s $12 Billion Bet on Didi Returns 14%

By Amir Efrati, Juro Osawa and Shai Oster · June 30, 2021 2:31 PM PDT · 2 comments

SoftBank Group has been hailed as a big winner from Didi Chuxing’s initial public offering on Wednesday. But in actuality, its returns are piddly. SoftBank invested a total of around $12 billion in the company, according to a person familiar with the matter. Based on Didi’s closing price today of $14.14—up 1% from its IPO... SoftBank Group has been hailed as a big winner from Didi Chuxing’s initial public offering...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Uber Joins Tech Shift to More Remote Work

By Martin Peers · June 29, 2021 5:16 PM PDT

Uber told employees today it will let people work remotely half the time, the latest example of a company fine-tuning its remote work policies as a return to the office gets closer. Uber’s policy, allowing more remote work than planned just a few months ago, is to go into effect in September. Based on anecdotal evidence, that month appears to be... Uber told employees today it will let people work remotely half the time, the latest example of a...

Didi's offices in Hangzhou, China. Photo by Bloomberg.

TI Briefing: Didi IPO Poses a Puzzle for U.S. Investors

By Martin Peers · June 10, 2021 5:01 PM PDT · 1 comment

Chinese ride-hailing giant Didi Chuxing, which filed to go public in the U.S. today, has a subsidiary called City Puzzle Holdings Ltd. listed in a chart of its byzantine corporate structure. Investors may find that an appropriate metaphor for assessing Didi as an IPO prospect, particularly compared to the two U.S.-based firms, Uber and Lyft,... Chinese ride-hailing giant Didi Chuxing, which filed to go public in the U.S. today, has a...

A Lyft driver hub in San Francisco. Photo by Bloomberg

Lyft's Q1 Numbers Show Pandemic Recovery on the Way

By Martin Peers · May 4, 2021 5:00 PM PDT · 1 comment

Greetings!There’s a saying, most recently popularized by former Obama adviser and Chicago mayor Rahm Emanuel, that one should “never let a good crisis go to waste.” It seems that the executives at Lyft, at least, took that advice to heart when it came to the pandemic. Brutal cost-cutting forced by last spring’s lockdowns has put the company much... Greetings!There’s a saying, most recently popularized by former Obama adviser and Chicago mayor...

Apple's Phil Schiller, a key figure in the upcoming trial.

Europe Opens New Front in War on Apple’s App Store

By Martin Peers · April 30, 2021 5:10 PM PDT

Apple's Phil Schiller, a key figure in the upcoming trial.

Europe Opens New Front in War on Apple’s App Store

By Martin Peers · April 30, 2021 5:10 PM PDT

After the earnings party comes the hangover. The European Commission’s preliminary ruling today accusing Apple of abusing its “dominant market position” in its treatment of music streaming rivals like Spotify crystallizes the regulatory risks facing the iPhone maker. Related issues will be litigated starting next week in the trial of Epic’s... After the earnings party comes the hangover. The European Commission’s preliminary ruling today...

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When Tech Companies Are Returning to the Office

By The Information Staff · March 29, 2021 6:02 AM PDT · 1 comment

As vaccines roll out more broadly, U.S. tech companies are starting to set dates for when employees can begin returning to their corporate offices. Some Uber and Microsoft workers will trickle back to West Coast campuses Monday; at Facebook, employees will start returning to the company’s headquarters in early May. Most companies are... As vaccines roll out more broadly, U.S. tech companies are starting to set dates for when...

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Zoom, Amazon Hired at Fastest Clip During Pandemic

By Nick Wingfield · March 18, 2021 6:00 AM PDT · 1 comment

Early last year, before the pandemic flipped the world upside down, you could have fit the entire global workforce of Zoom Video Communications on about 45 charter buses. By the end of January this year, though, it would have taken 79 buses to hold all of the videoconferencing provider’s employees, thanks to a whopping headcount increase... Early last year, before the pandemic flipped the world upside down, you could have fit the entire...

Images by Shutterstock. Illustration by Mike Sullivan

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12 Charts That Show How Tech Took Off During a Year of Shutdowns

By Laura Mandaro · March 9, 2021 11:51 AM PST · 4 comments

A year ago this month, U.S. tech companies told hundreds of thousands of workers to pack up their laptops and go home—at least until mid-April, some said. That deadline quickly joined other trashed predictions in the months that followed, as the coronavirus pandemic set grim records for lives lost, then topped them again and again. The... A year ago this month, U.S. tech companies told hundreds of thousands of workers to pack up their...

Kuaishou's headquarters in Beijing. Photo by Bloomberg

Kuaishou’s IPO and Stock Price Inflation: The Information’s Tech Briefing

By Martin Peers · Feb. 5, 2021 5:32 PM PST

Kuaishou's headquarters in Beijing. Photo by Bloomberg

Kuaishou’s IPO and Stock Price Inflation: The Information’s Tech Briefing

By Martin Peers · Feb. 5, 2021 5:32 PM PST

No one talks about inflation much anymore, although the $1.9 trillion stimulus plan now working its way through Congress has sparked a little chatter of its revival. But judging by some recent stock valuations, we’ve already got inflation—in asset prices on the stock market. The latest example is Kuaishou, the Chinese company that,... No one talks about inflation much anymore, although the $1.9 trillion stimulus plan now working...

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