Uber Technologies, Inc. - UBER STOCK NEWS

Uber Technologies reported financial results for Q4 and full-year 2020, noting a 16% decline in revenue year-over-year to $11.1 billion. Gross bookings of $57.9 billion fell 11% YoY, with Mobility down 50% YoY but Delivery surged 130% YoY. A net loss of $968 million was recorded, attributed partly to $236 million in stock-based compensation. Monthly Active Platform Consumers rose 19% QoQ to 93 million. The company aims for improved profitability in 2021, supported by strategic acquisitions, including Postmates and Drizly.

Walgreens and Uber Technologies, Inc. (NYSE: UBER) have partnered to enhance access to COVID-19 vaccines for underserved communities. This collaboration aims to tackle barriers to health equity, including education and transportation. Key initiatives include providing free transportation to vaccine sites, facilitating ride scheduling through Uber, and launching educational programs to combat vaccine hesitancy. Uber has committed to offering up to 10 million free or discounted rides, while Walgreens expands its services in socially vulnerable areas. This partnership seeks to ensure equitable vaccine distribution as availability increases.

Uber Technologies announced its Eat Local campaign, committing $20 million to support independent restaurants during COVID-19 challenges. This initiative includes $4.5 million in microgrants for financially struggling restaurants, waived fees for Uber Eats services, and reduced delivery fees for consumers. Additionally, the company will match consumer contributions to restaurants. The aim is to bolster local businesses as they face unprecedented difficulties, particularly during winter. Uber’s continued financial support underscores its dedication to partner success.

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.