Lyft

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Uber Posts Biggest-Ever Quarterly Loss

Company lost $5.24B in 3 months

(Newser) - Uber lost $5.24 billion in the second quarter of 2019—its largest quarterly loss ever—after making huge stock-based payouts in the months following its initial public offering. The ride-hailing giant says it paid $3.9 billion in stock-based compensation and expenses during the quarter. It also paid $298... More »

Police: Guy Shoots Up Mobile Home, Calls Lyft to Flee the Scene

Lyft driver was 'shook up' by the whole thing

(Newser) - Not a great idea: using a car-share service as your getaway vehicle. Police say Issa Amer Ishtawi, 20, broke into a mobile home in Portage, Indiana, fired a gun, took one of the residents outside and then fired more into the mobile home, hitting one person in the foot and... More »

Uber Driver Ordered to Pay $500K to Torture Victim

Yusuf Abdi Ali was commander in Somali military

(Newser) - Uber and Lyft say they have permanently removed accused war criminal Yusuf Abdi Ali from their apps. The Somali ex-colonel, who drove for the rideshare apps in northern Virginia, was ordered to pay torture victim Farhan Tani Warfaa $500,000 by a jury in the state Tuesday, the Washington Post... More »

Another Ride-Sharing Giant Just Went Public

Uber shares were going for $45 each, raising $8.1B, just weeks after Lyft's IPO

(Newser) - With a ring of the opening bell, Uber began picking up passengers as a newly minted public company Friday, giving investors a chance to bet on a service with huge potential but a long way from turning a profit. Shares in the ride-hailing giant were sold in an initial public... More »

Expect Fewer Ubers on the Road Today

Drivers striking ahead of company's IPO debut

(Newser) - Uber drivers from Australia to the UK, including in at least 10 US cities, are logging off the app Wednesday to protest the company's Friday IPO offering. With Uber's expected $90 billion valuation, drivers say investors stand to get rich, while they struggle with low pay, limited benefits,... More »

As Lyft Goes Public, Founders Get Very Rich

$510M for John Zimmer and $700M for Logan Green, reports 'Forbes'

(Newser) - Think ride-hailing is the future of transportation? It's now possible to put some money behind your faith. Lyft began trading publicly on the Nasdaq exchange Friday, and investors seemed receptive. Shares opened at $87.24, roughly 21% higher than the $72 the company settled on for its IPO, reports... More »

Lyft's IPO Stats: Fast Growth, Big Losses

Company will be going public in March or April

(Newser) - Lyft got the ball rolling Friday on what the Wall Street Journal expects will be one of the busiest seasons for tech IPOs in years. Lyft won't actually go public until late March or early April, but it released its IPO documentation to give the public a glimpse into... More »

Cops: Pregnant Lyft Driver Murdered by Passenger

Arizona man was found driving her vehicle

(Newser) - A pregnant Lyft driver in her third trimester was brutally murdered by a passenger early Sunday, police in Arizona say. Police say Kristina Howato, 39, was fatally stabbed by 20-year-old Fabian Durazo after she responded to a call for a ride from him in Tempe around 1am, the Arizona Republic... More »

Report: Ride-Hailing Firm Plans a Huge Change

Uber could issue IPO in early 2019

(Newser) - Ride-hailing giant Uber has filed confidential preliminary paperwork for selling stock to the public, the AP reports. That's according to a report late Friday in the Wall Street Journal . Citing people familiar with the matter whom it did not identify, the Journal says San Francisco-based Uber Technologies Inc. filed... More »

Report: 30% of Uber, Lyft Drivers Actually Lose Money Driving

Uber calls new research 'deeply flawed'

(Newser) - A new report from the MIT Center for Energy and Environmental Policy Research found a full 30% of Uber and Lyft drivers are actually losing money while working due to costs associated with the job. The Guardian reports the situation isn't much better for the other 70%, as the... More »

Missing Uber Driver May Have Called 911

Joshua Thiede was last seen February 11 in Los Angeles

(Newser) - A Los Angeles driver for Uber and Lyft has been missing for days and police have asked the public for help. Joshua Thiede was last seen Feb. 11 in Los Angeles, the LA Times reports. The 29-year-old's mother, Janet Thiede, said phone records show that somebody called 911 from... More »

Family Says Son Died After Lyft Driver Left Him on Freeway

23-year-old Justin Lavelle killed by hit-and-run driver Jan. 31

(Newser) - The California Highway Patrol is investigating after a 23-year-old Lyft passenger somehow ended up on a Los Angeles freeway, where he was killed by a hit-and-run driver, CBS Los Angeles reports. According to NBC Los Angeles , Justin Lavelle was taking a Lyft from West Hollywood to Long Beach early Jan.... More »

Why Lyft Is 'Devastated' Over Temple Student's Murder

Cops say suspect moved Jenna Burleigh's body using the transportation service

(Newser) - Police are continuing to piece together the murder of Temple University student Jenna Burleigh and say they now know how her alleged killer moved her body 150 miles from Philadelphia. After killing the 22-year-old, Joshua Hupperterz, 29, put her remains in a storage bin and transported it to his mother'... More »

Lyft's New Partner: Taco Bell

Idea is to encourage trips through drive-thru on the way home

(Newser) - It's apparently a fairly common question posed to drivers who work for the likes of Lyft or Uber: Is it OK to swing by a fast-food drive-thru on the way home? Now Lyft is not only answering the question in the affirmative, it's encouraging the practice. The company... More »

A New Uber Foe: Partnership of Lyft, Alphabet's Waymo

Self-driving vehicle sector just got even more competitive with new deal announcement

(Newser) - Lyft has the brawn via its nationwide fleet of taxis, Waymo has the brains with its self-driving technology, and together they just decided to make lots of money. The Wall Street Journal and New York Times report on a Sunday announcement from the two companies on a sparsely detailed deal... More »

Uber's Final Frontier: Upstate New York

State considers legislation to overturn ban on ride-sharing services

(Newser) - Brian Cook's March Madness-inspired trip to Buffalo to cheer on Princeton was, for him, a journey back to a simpler time, when hailing a ride meant standing on a corner and flagging down a taxi. "For a 19-year-old, that's unknown," said Cook. "I take Uber... More »

Think Rideshares Minimize Racism? Study: Think Again

It's not just taxi drivers who pick up fewer African-Americans

(Newser) - Research has suggested that Uber and the like are helping to alleviate some of the discrimination that runs rampant among taxi drivers—but a new study involving roughly 1,500 trips in Seattle and Boston may be casting some rain on that parade. Published by the National Bureau of Economic... More »

An Uber Headache? 2 Drivers Awarded Unemployment

Which means the NY Labor Department considers them employees

(Newser) - Uber has been fighting tooth and nail to keep its drivers classified as independent contractors rather than employees, with success . Now, a speed bump in New York: The state's Department of Labor in August and September ruled that two Uber drivers are eligible for unemployment payments, the New York ... More »

More Victims of Ex-Uber, Lyft Driver Reported

Jeremy Vague was one teen victim's volleyball coach

(Newser) - Police in Southern California say a 14-year-old girl and another female ridesharing customer were reportedly victimized by a man charged with assaulting several women while driving for Uber and Lyft. Escondido police Lt. Justin Murphy said Thursday that the teen's parent said Jeremy Vague had inappropriate contact with the... More »

An Uber Driver Could Soon Bring You Milk From Walmart

Store is testing grocery delivery with Uber, Lyft

(Newser) - Walmart says it will be testing its grocery delivery service with ride-hailing companies Uber and Lyft in the next two weeks in Denver and Phoenix, the AP reports. That's in addition to a quiet pilot program that started in March with Deliv for its Sam's Club customers that... More »

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