Uber Technologies, Inc. - UBER STOCK NEWS

Uber Technologies (NYSE: UBER) is set to acquire Delivery Hero's foodpanda operations in Taiwan for $950 million in cash. This acquisition, one of Taiwan's largest international deals, will merge Uber Eats' and foodpanda's consumer bases, providing significant value by creating a single app for users. The deal is subject to regulatory approval and is expected to close in the first half of 2025. Additionally, Uber will purchase $300 million in newly issued shares of Delivery Hero. Post-acquisition, the integration aims to enhance the consumer, merchant, and delivery partner experience in Taiwan.

Uber announced strong financial results for the first quarter of 2024, with trips, gross bookings, and revenue all showing significant growth. The company reported a 20% increase in gross bookings, 21% increase in trips, and 15% increase in revenue year-over-year. Adjusted EBITDA saw a substantial 82% growth, reaching $1.4 billion. However, net loss attributable to Uber Technologies, Inc. was $654 million, with a significant impact from unrealized losses related to equity investments.

Smarty partners with Uber to provide accurate address data for its global operations, including ride-sharing, meal delivery, and local courier services. CEO Jonathan Oliver highlights the importance of precise address data in reducing operational costs and enhancing customer experience. The partnership solidifies Smarty's reputation as a leader in address data solutions.

Uber Eats and Instacart have partnered to provide Instacart customers with access to food delivery from Uber Eats restaurant partners across the U.S. Customers can now order from hundreds of thousands of restaurants through the Instacart app. Instacart+ members will enjoy $0 delivery on grocery and restaurant orders over $35, further enhancing the value of their membership.

Instacart and Uber Technologies, Inc. have announced a strategic partnership to offer Uber Eats restaurant delivery to Instacart customers across the U.S. Customers can now order from hundreds of thousands of restaurants through the Instacart app, alongside groceries. Instacart+ members will enjoy $0 delivery on grocery and restaurant orders over $35.

Serve Robotics Inc. announced the closing of a $40 million public offering, with 10,000,000 shares of common stock sold at $4.00 per share. The offering included participation from strategic partner Postmates, , a subsidiary of Uber Technologies Inc. Serve granted Aegis Capital Corp. an option to purchase additional shares. The net proceeds will fund research, development, manufacturing, expansion, and general corporate purposes. Serve's common stock is now listed on the Nasdaq Capital Market under the symbol 'SERV'.

Serve Robotics Inc. announced the pricing of a $40 million public offering, with 10,000,000 shares of common stock at $4.00 per share. The offering includes participation from Postmates, , a subsidiary of Uber Technologies Inc. The company will begin trading on the Nasdaq Capital Market under the symbol 'SERV'. Aegis Capital Corp. has an option to purchase additional shares.

Uber Technologies, Inc. (UBER) will host a conference call to discuss its first quarter 2024 financial results on May 8th. Investors can access the live webcast and earnings release materials on Uber's Investor Relations website. The company emphasizes transparency by using its website for material information disclosure.

Uber Technologies partners with The Vitamin Shoppe to offer on-demand delivery of nutritional supplements through the Uber Eats app, providing customers with a convenient way to access health and wellness products nationwide.