Uber used a secret tactic known as the 'kill switch' to block law enforcement from accessing company data during police raids, leaked documents show
Uber execs blocked authorities from accessing company data at least 12 times during European office raids, documents leaked to the Guardian reveal.
news.yahoo.comUber CEO: We're not giving up on self-driving after selling off the business
Uber announced Monday it was selling its self-driving unit, Advanced Technologies Group, to Aurora Innovation, but CEO Dara Khosrowshahi said he doesn't believe the company is giving up its self-driving play. "What's crucial is for us to have access to the very best and leading autonomous technology out there," Khosrowshahi said on CNBC's "Squawk Box." "What we want to make sure is as that technology is developed, it's developed for Uber network and is available for the Uber network at scale." As part of the deal, Khosrowshahi will join the Aurora's board, and the ride-sharing giant will invest $400 million into the company. "What this deal does is essentially bring two leading teams together in the autonomous space," Khosrowshahi said.
cnbc.comUber, hard-hit by pandemic, sells its robot-vehicle division
SAN RAMON, Calif. – Uber is selling off its autonomous vehicles development arm as the ride-hailing company slims down after its revenues were pummeled by the coronavirus pandemic. Self-driving vehicle technology company Aurora will acquire the employees and technology behind Uber's Advanced Technologies Group in an stock transaction, the companies said Monday. Uber will also invest $400 million into Aurora, and Uber's CEO Dara Khosrowshahi will join Aurora's board of directors. After the transaction, Aurora will be worth $10 billion and Uber will hold 26% stake in the company, Aurora CEO Chris Urmson said in an interview. San Francisco-based Uber will lose a critical piece of its company after the pandemic cut into its finances by suppressing demand for shared rides.
Benchmark's Bill Gurley compares today's markets to 1999 dot-com boom
The technology sector's strong run since its March lows reminds Benchmark's Bill Gurley of the 1999 tech boom that preceded the dot-com bubble burst, the investor told CNBC. "There is certainly what I would call a highly speculative nature to the markets today, a willingness to take on risks, a willingness to get excited about projects that may be five or 10 years in the future, that we haven't seen since the '99 time frame," Gurley said Friday on "Squawk Alley." Investors had been pushing the markets to new highs since stay-at-home orders in March, led by mega-cap technology, though recently have pared back some of those gains. Some on Wall Street have voiced their concerns that the run bears resemblance to the bubble, pumped by easy capital, market confidence and pure speculation, that burst in 2000. Barclays, for example, said in a note last month that stock valuations were at their 2000 peaks, and downgraded the FANMAG sector (Facebook, Amazon, Netflix, Microsoft, Apple and Alphabet/Google) to market weight.
cnbc.comTravis Kalanick left more than $1 billion on the table by dumping his Uber stake last year
Former Uber Technologies CEO and co-founder Travis Kalanick walks on the floor of the New York Stock Exchange during the company's IPO May 10, 2019. Uber's former CEO Travis Kalanick went on a selling spree late last year, dumping almost all of his shares in the ride-hailing company between November and December. Had Kalanick held onto his shares, they'd be worth $1.2 billion more today than they were when he divested. Kalanick was ousted as Uber's CEO in 2017 after a litany of concerns emerged surrounding the company's culture and workplace environment and its treatment of drivers and riders. Dara Khosrowshahi, the former Expedia CEO who succeeded Kalanick, said in December that he was "enormously grateful for Travis' vision and tenacity while building Uber."
cnbc.comTravis Kalanick and the four paths of ousted tech founders
Uber CEO Travis Kalanick. Kalanick co-founded Uber in 2009, then took over as CEO the following year. The second actMarc Andreessen, cofounder of Andreessen Horowitz, speaks at Recode's 2017 Code Conference. Then, a decade ago, Andreessen co-founded Andreessen Horowitz, where he used his hard-gained knowledge as an entrepreneur to build one of the most successful venture capital firms in Silicon Valley. Kalanick sold less than $3 billion worth of Uber stock, which barely buys an NBA team these days.
cnbc.comStocks making the biggest moves midday: Uber, AMD, Kodiak Sciences & more
A banner announcing the IPO of Uber Technologies hangs outside the New York Stock Exchange, May 10, 2019. Check out the companies making headlines in midday trading:Uber Shares of Uber rose more than 1% after the ride-sharing company said Travis Kalanick, its former CEO, will step down from the company's board of directors effective Dec. 31. Advanced Micro Devices Shares of AMD rose after RBC increased its price target on the semiconductor stock to the highest on Wall Street. Kodiak Sciences Shares of Kodiak Sciences rose 9.4% after J.P. Morgan initiated coverage of the stock with an overweight rating. J.P. Morgan also gave a target price of $82 per share, a 24% premium from where shares closed on Monday.
cnbc.comFormer Uber CEO Kalanick severs ties with ride-hailing giant
NEW YORK Former Uber CEO Travis Kalanick is resigning from the board of directors, severing ties to the ride-hailing company that he co-founded a decade ago and ran until a series of scandals led to his downfall. Kalanick recently sold more than $2.5 billion worth of stock in the company, or more than 90% of his holdings. But Kalanick was ousted as CEO in the summer of 2017 with the company mired in lawsuits. But Uber's stock floundered and fell almost 11% in its first day of trading as a public company. "Let's call it like it is: Uber stock has been a nightmare since the IPO coming out of the gates," Ives said.
dailycommercial.comFormer Uber CEO Kalanick severs ties with ride-hailing giant
NEW YORK Former Uber CEO Travis Kalanick is resigning from the board of directors, severing ties to the ride-hailing company that he co-founded a decade ago and ran until a series of scandals led to his downfall. Kalanick recently sold more than $2.5 billion worth of stock in the company, or more than 90% of his holdings. But Kalanick was ousted as CEO in the summer of 2017 with the company mired in lawsuits. But Uber's stock floundered and fell almost 11% in its first day of trading as a public company. "Let's call it like it is: Uber stock has been a nightmare since the IPO coming out of the gates," Ives said.
ocala.comFormer Uber CEO Kalanick severs ties with ride-hailing giant
NEW YORK Former Uber CEO Travis Kalanick is resigning from the board of directors, severing ties to the ride-hailing company that he co-founded a decade ago and ran until a series of scandals led to his downfall. Kalanick recently sold more than $2.5 billion worth of stock in the company, or more than 90% of his holdings. But Kalanick was ousted as CEO in the summer of 2017 with the company mired in lawsuits. But Uber's stock floundered and fell almost 11% in its first day of trading as a public company. "Let's call it like it is: Uber stock has been a nightmare since the IPO coming out of the gates," Ives said.
news-journalonline.comTravis Kalanick severs all ties with Uber, departing board and selling all his shares
In a statement Tuesday, Uber said Kalanick, 43, is leaving to "focus on his new business and philanthropic endeavors." An Uber spokesperson said the ride-hailing company has "strong director candidates to put forward at the appropriate time." By exiting the board and dumping his stake, Kalanick has severed his last ties from the company he co-founded. Uber CEO Dara Khosrowshahi said in the release that he was "enormously grateful for Travis' vision and tenacity while building Uber." Kalanick had been systematically selling his stake in Uber since the company's stock lockup period expired last month.
cnbc.comStocks making the biggest moves premarket: JD.com, Uber, Tesla, TJX & more
Check out the companies making headlines before the bell:JD.com JD.com's logistics unit is considering an overseas initial public offering that could raise up to $10 billion, according to a Reuters report. Diamond Eagle Acquisition The special purpose acquisition company will combine with sports betting company DraftKings and sports betting technology provider SBTech. Tesla The automaker struck a deal to buy a plot of land outside Berlin for a new Gigafactory, according to a Bloomberg report. Uber Uber co-founder Travis Kalanick has sold more than 90% of his stake in the company over the past seven weeks, according to SEC filings. TJX TJX was accused by New York Senator Chuck Schumer of selling recalled and potentially dangerous products at its TJ Maxx, Marshalls, and Home Goods stores.
cnbc.comUber co-founder Travis Kalanick is on pace to sell his entire stake in the ride-hailing giant
Former Uber Technologies CEO and co-founder Travis Kalanick walks on the floor of the New York Stock Exchange during the company's IPO May 10, 2019. Travis Kalanick is on course to completely exit his stake in Uber. Kalanick has been systematically selling shares since Nov. 6 at a pace that indicates he'll be completely divested from Uber within days. Other former executives, including co-founder Garrett Camp, have sold shares as well, but not at the scale that Kalanick has. But it might just be that Kalanick, who was ousted as Uber CEO in 2017 amid a series of scandals, is focused on his latest venture, CloudKitchens.
cnbc.comUber to pay $4.4 million to resolve Kalanick-era EEOC sex discrimination charge
Uber has agreed to pay $4.4 million to resolve an Equal Employment Opportunity Commissioner's 2017 charge of sex discrimination, the agency announced Wednesday. Uber fired more than 20 employees following a separate internal investigation into gender bias and sexual harassment. The $4.4 million Uber will pay to settle the charges will create a fund to compensate those the EEOC determines "experienced sexual harassment and/or related retaliation after January 1, 2014." An outside consultant will help Uber update its policies and former EEOC Commissioner Fred Alvarez will monitor the company for three years. "I am extremely pleased that we were able to work jointly with the EEOC in continuing to strengthen these efforts."
cnbc.comUber's ex-CEO Travis Kalanick's November stock sell-off surpasses $1.7 billion since lockup expired
Uber co-founder Travis Kalanick continues to dump shares in his old company. Since Friday, the former CEO of the ride-hailing giant has sold more than $250 million in stock, according to a financial filing submitted to the SEC. The latest sale leaves Kalanick with more than 36 million shares in Uber, a substantial stake in the company. Co-founder Garrett Camp sold about $20 million in shares this month, according to SEC filings, but still holds more than $2 billion in the company. The company's market value is now about $50 billion, down from nearly $70 billion at the end of its first trading day.
cnbc.comUber's ex-CEO Travis Kalanick has sold more than $1 billion in stock since lockup expired
Uber co-founder and director Travis Kalanick's massive November sell-off of stock in his former company is nearing $1.5 billion. Kalanick has sold a total of $1.456 billion in Uber stock so far. The latest sale leaves the 43-year-old entrepreneur with fewer than 45 million shares in the company. The company's market value is now about $50 billion, down from nearly $70 billion at the end of its first trading day. Co-founder Garrett Camp has sold about $20 million in shares this month, according to SEC filings, but still holds more than $2 billion in the company.
cnbc.comUber investor: CEO lacks ruthlessness of ousted co-founder Travis Kalanick and the stock shows it
Dara Khosrowshahi, who was brought in as Uber CEO to clean-up co-founder Travis Kalanick's mess, needs to prove the company can still innovate, early Uber investor Bradley Tusk told CNBC on Monday. "Some of what Travis represented in innovation, change and intensity is lacking at the company now, and the stock is clearly reflecting that." Since its New York Stock Exchange debut in May, Uber has more than 10% from its initial public offering price of $45 per share. However, Wall Street remains skeptical after Uber on Thursday reported a per-share loss of $4.72, which was much worse than expected. "Fundamentally, for the company to really be profitable, it can't be just Uber Eats, it can't just be ride-share," Tusk said.
cnbc.comArianna Huffington departs Uber's board
Justin Sullivan/Getty Images(CNN) - Arianna Huffington is leaving the board of Uber after three years. She joined the company's board of directors in 2016 as its first female board member. In the regulatory filing, Huffington cites the growth of her media company, Thrive Global, as reason for her departure. Additionally, another board member Matt Cohler, a general partner at venture capital firm Benchmark, has also resigned from the board. According to a separate regulatory filing, Cohler resigned Tuesday, one day prior to Huffington.
Uber CEO Travis Kalanick on innovation and success
Uber is one of the world's most disruptive companies. The ridesharing service this month celebrates its seventh anniversary. Uber has over one million active drivers globally. The company is valued at upwards of $60 billion. Co-founder Travis Kalanick is now focused on the road ahead. Charlie Rose spoke to him in a wide-ranging conversation, and explored what drives his ingenuity.
cbsnews.com