Welcome to our dedicated page for Uber Technologies news (Ticker: UBER), a resource for investors and traders seeking the latest updates and insights on Uber Technologies stock.
Uber Technologies, Inc. (NYSE: UBER) is a global technology company headquartered in San Francisco. Primarily known for its ride-hailing services, Uber connects riders with drivers through its intuitive mobile app. With operations in over 63 countries and serving 150 million users monthly, Uber has significantly impacted how people move in urban settings.
Apart from taxi services, Uber's technology platform extends to food delivery through Uber Eats, which matches hungry customers with local restaurants. As part of its expansive vision, Uber is also pioneering autonomous vehicles, drone deliveries, and Uber Elevate for aerial ride-sharing, pushing the boundaries of conventional transportation.
Uber's recent strategic moves include a partnership with Lightspeed Commerce Inc., integrating Uber Eats and Uber Direct into the Lightspeed platform to enhance delivery options for merchants. Additionally, Uber's investment in Serve Robotics Inc., a company specializing in AI-powered delivery robots, showcases its commitment to innovative delivery solutions.
Financially, Uber has shown resilience and adaptability, consistently working towards diversifying its services and collaborations. These efforts position it as a pivotal player in the evolving landscape of smart transportation and delivery systems.
Uber Technologies, Inc. (NYSE: UBER) has agreed to acquire Drizly, the leading on-demand alcohol marketplace, for approximately $1.1 billion in stock and cash. Following the transaction, Drizly will become a wholly owned subsidiary of Uber, integrating with the Uber Eats app while maintaining its own platform. This acquisition aims to enhance Drizly’s growth with Uber’s technology and expansive consumer base, allowing merchants to benefit from improved delivery logistics. The deal awaits regulatory approval and is expected to complete in the first half of 2021.
Uber Technologies (NYSE: UBER) is expanding its on-demand prescription delivery service to New York City, partnering with Nimble. This follows successful pilots in Texas cities such as Dallas and Austin. Through the Uber Eats app, New Yorkers can transfer existing prescriptions or fulfill new ones from local pharmacies, although controlled substances and government-paid prescriptions are excluded. This initiative is aimed at enhancing convenience for consumers while supporting neighborhood pharmacies, according to executives from both companies.
Uber Technologies, Inc. (NYSE: UBER) will host its quarterly conference call on February 10, 2021, at 1:30 PM PT (4:30 PM ET) to discuss its fourth quarter and full year 2020 financial results. Interested parties can access the live webcast and related materials on Uber’s Investor Relations website. A replay will be available for at least 90 days. The company emphasizes its commitment to using the Investor Relations site for disclosing material nonpublic information as part of its regulatory obligations.
Moderna (Nasdaq: MRNA) and Uber (NYSE: UBER) have announced a partnership to enhance COVID-19 vaccine uptake. The collaboration will begin with providing vaccine safety information through Uber's app and will explore options like in-app ride scheduling for immunization appointments. Uber previously committed to offering 10 million free or discounted rides to facilitate access to vaccines, especially in underserved communities. Both companies aim to expand this initiative globally, reinforcing vaccine education and accessibility efforts.
Uber Technologies announced the pricing of $1.0 billion in 0% Convertible Senior Notes due 2025, in a private placement to qualified institutional buyers. An additional $150 million in notes may be purchased by initial buyers. The notes will mature on December 15, 2025, and the initial conversion price is set at approximately $80.84 per share. Estimated net proceeds of about $987.5 million will be used for working capital and general corporate purposes. The offering is expected to close on December 11, 2020, pending closing conditions.
Joby Aviation announced a $75 million investment from Uber Technologies as part of its acquisition of Uber Elevate. This investment adds to Uber's previous $50 million funding in Joby's Series C round, bringing Uber's total investment to $125 million. The acquisition aims to integrate services between Joby and Uber, enhancing air and ground travel for customers. Joby plans to launch its all-electric vertical take-off and landing aircraft by 2023, aiming to reduce urban congestion and promote sustainable transport. The deal is expected to close in Q1 2021, pending regulatory approval.
Uber Technologies plans to offer $1 billion of Convertible Senior Notes due 2025 in a private placement, with an option for an additional $150 million. The notes will be senior unsecured obligations and are convertible into cash, shares, or a combination at Uber's discretion. Proceeds will be used for working capital and general corporate purposes, including potential acquisitions. The offering is subject to market conditions and is not registered under the Securities Act. Forward-looking statements regarding the offering and its proceeds are included, highlighting potential risks involved.
Uber Technologies (NYSE: UBER) announced that CFO Nelson Chai will participate in a fireside chat at the 2020 Barclays Global Technology, Media and Telecommunications Conference on December 10, 2020. The event is scheduled for 8:00 AM ET (5:00 AM PT). A live webcast will be available on Uber's investor relations website at http://investor.uber.com.
Uber's mission is to provide access to movement, having conducted over 15 billion trips since its inception in 2010.
Uber Technologies, Inc. (NYSE: UBER) has partnered with AU10TIX to enhance identity verification for cash-paying riders in Mexico, Argentina, and Chile. The program requires users to scan official IDs for verification, aiming to instill trust between riders and drivers. This partnership, which first began in 2019, now extends to additional Uber services. AU10TIX's technology is designed to meet the increased demand for safe cash transactions amid changing priorities due to COVID-19. This initiative is expected to facilitate further expansion where cash payment demand is rising.
Uber Technologies (NYSE: UBER) announced that CEO Dara Khosrowshahi will deliver a keynote at the RBC Capital Markets Global Technology, Internet, Media and Telecom Virtual Conference on November 18, 2020. The keynote is scheduled for 12:30 pm ET (9:30 am PT). A live webcast will be accessible via the investor relations section of Uber's website.
Since its inception in 2010, Uber has aimed to provide access to rides with the touch of a button and has completed over 15 billion trips.
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