Alphabet Inc.’s investment arm, CapitalG, led a $1 billion investment in Lyft Inc. that values the ride-sharing startup at $11 billion, the ride-sharing startup said.
Volkswagen is hesitating to throw more money into Gett, an Israeli tech company that runs a ride-hailing platform for taxis. Instead, the German automaker may be shifting toward developing an in-house ride-hailing service, reports Bloomberg.
Based on surveys conducted in seven major American cities, the researchers found that roughly half of ride-hailing trips would have been made by walking, biking, or public transit—or simply not made at all. And, the introduction of the ride-hailing services decreased public transit use an average of 6%.
The rhetoric about the rise of free-agent nation, the gig economy, the sharing economy or whatever you want to call it has often outpaced the economic evidence.
A driver, a transportation official, and a transit advocate explain why Seattle recently saw one of the biggest citywide increases in passenger numbers.
Flont, as the company is called, was founded last year and has just completed its first successful funding round. The startup allows customers to rent fine jewelry on a rolling basis, returning them when they are done or buying the piece if they like it.
The self-driving cars are coming, and US cities are totally unprepared for the radical changes that will accompany them. Their roads are crumbling, their public transportation services are out-of-date and over-capacity, and their car traffic is among the worst in the world. Autonomous vehicles are supposed to be a panacea for mobility, but if they arrive to the status quo in our major metropolises, their promised benefits may never be realized.
What seemed inevitable for quite some time now, has finally come to pass; Uber has overtaken yellow cabs in average daily ridership figures, the New York Times reports. This past July, Uber witnessed an average of 289,000 rides per day, whereas yellow cabs only managed 277,000.
China’s largest bike-share company, Ofo, is rolling into Washington. The company will join four others that recently started operating in the city as part of a six-month pilot to determine the potential success of the dockless bikeshare model.
Last week, Uber was dealt another blow when its services came under fire at a hearing held by the New York City Taxi and Limousine Commission. Under a requirement proposed earlier this year, Uber would be one of many companies operating out of the city who will be required to keep a chunk of its vehicles handicap accessible. Now it’s reported that Uber is firing back at the proposed numbers.