DIRS.INFO The most relevant business & tech news

☆ Uber CEO Dara Khosrowshahi shares the biggest lesson he learned being a driver himself
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO Dara Khosrowshahi shares the biggest lesson he learned being a driver himselfUber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss the company's Q1 earnings results and 2023 outlook, the impact of A.I., and the lessons he learned being a driver himself.

☆ Uber’s revenue climbs 29% as it continues to defy tech slump
▼ + stars: | 2023-05-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Uber on Tuesday reported revenue of $8.8 billion for the quarter ending in March, a 29% increase from the same period last year and beating Wall Street’s estimates. The company’s continued strength comes despite lingering recession fears and stands in stark contrast to the slowing growth at other tech companies. It also sets Uber apart from its chief rival Lyft, which is undergoing significant layoffs and a shakeup in its C-Suite. Even with higher interest rates and tighter access to capital, Khosrowshahi said “we are well positioned to improve our competitive position across our key markets.”Shares for Uber surged more than 8% in pre-market trading Tuesday morning. Uber has largely avoided having to undergo the significant layoffs that have dominated headlines in Silicon Valley in recent months.

☆ Uber's CEO became an undercover boss in a used Tesla and was surprised by how rude some riders can be
▼ + stars: | 2023-04-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Dara Khosrowshahi told The Wall Street Journal he encountered problems that discouraged drivers. He was surprised to find out just how many issues there were – and how unpleasant some riders could be. Khosrowshahi told the Journal he had a five-star rating for the 100-odd rides and deliveries he'd completed around San Francisco. The Uber CEO said he would try to keep customers happy by offering phone charging cables and serving up Spotify playlists featuring artists including Taylor Swift and The National. Khosrowshahi told the Journal that some drivers had returned in response to economic uncertainty, which was yet to have an impact on rider demand.

☆ What Happened When Uber’s CEO Started Driving for Uber
▼ + stars: | 2023-04-07 | by ( Preetika Rana | Photographs Carolyn Fong For The Wall Street Journal | ) www.wsj.com time to read: 1 min

After five years running Uber Technologies Inc., Dara Khosrowshahi in September got behind the wheel himself. Using the alias “Dave K” and a gray Tesla Model Y that he purchased secondhand, the chief executive made dozens of trips as a ride-share driver in the following months ferrying people around the hills of San Francisco.

☆ How Uber left Lyft in the dust
▼ + stars: | 2023-03-29 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +5 min

In the process, Lyft cultivated a feel-good brand – but Uber dominated the market. “As a member of the board, he knows both the challenges and opportunities ahead.”For Lyft, the current challenges are immense. While Uber diversified its business beyond ride-hailing by delivering meals and grocery items, Lyft never did. David Risher, Lyft's new CEO, flanked by Lyft's co-founders, Logan Green (left) and John Zimmer (right). Davidson, wrote in a note this week that the new CEO “could signal an increased willingness to broaden the strategic aperture at LYFT a bit as it relates to areas like product strategy (delivery), partnerships, or other novel ways to create value.”Former Uber CEO Travis Kalanick (left); current Uber CEO Dara Khosrowshahi (right).

☆ Lyft shares jump as Wall Street welcomes CEO change
▼ + stars: | 2023-03-28 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

Lyft said on Monday co-founders Logan Green and John Zimmer would step down as CEO and president, respectively, handing the reins to David Risher who has been a board member since 2021. Risher was among the first employees at Amazon.com Inc(AMZN.O) and served as the e-commerce giant's first head of product. Risher's experience on Lyft's board also gives him a strong command of the business relative to the average incoming CEO, RBC Capital Markets said. Lyft's shares were trading at $10.20 on Tuesday. Rival Uber also had a CEO change in 2017, when it hired then Expedia Inc (EXPE.O) top boss Dara Khosrowshahi.

☆ Bodyguards, security costs, and private jets: Companies can spend millions protecting CEOs like Mark Zuckerberg and Tim Cook
▼ + stars: | 2023-03-09 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +1 min

Dara Khosrowshahi: $507,579 in 2021Since Uber implemented its security program for CEO Dara Khosrowshahi, it "has identified actual and credible threats to Mr. Khosrowshahi's safety," its proxy statement said. His security and personal safety costs added up to $507,579 — $402,366 of which was for personal transportation services and $105,213 of which was for "protective intelligence services." Uber's filing says its security program includes certified protection officers, as well as secure meeting spaces and lodging for its executives. Khosrowshahi." The company's filing said that since it implemented its security program it "has identified actual and credible threats to Mr. Khosrowshahi's safety as a result of the high-profile nature of being our CEO."

☆ Uber Might Need to Stow Its Freight Train
▼ + stars: | 2023-03-07 | by ( Laura Forman | ) www.wsj.com time to read: 1 min

Dara Khosrowshahi, CEO of Uber, said freight needs to grow to appeal to investors. Uber Technologies has amassed a nearly $7 billion business in a different kind of transportation that investors never talk about but should at least be thinking about. Uber Freight functions much like Uber Rides or Uber Eats in digitally connecting available carriers with shipments. Carriers get upfront pricing, and shippers can track shipments from pickup to delivery.

☆ 3 things that will propel Uber's ad offering to become a $1 billion business, according to advertisers
▼ + stars: | 2023-02-24 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

The company is justifying its steep ad prices by pitching advertisers its first-party data that shows where people are and where they're going. Advertisers laid out why Uber's ads are so valuable, and how the company has been able to pull in their budgets. Uber's data-driven ad offering however isn't as compelling as what's offered by retail media competitors, like Walmart and Target. Uber has a new strategy to go after video ad budgetsUber also wants to corner a piece of the lucrative video advertising market. The tablet ad format is squarely aimed at video ad budgets.

☆ Uber is cutting some employees as part of a 'more rigorous approach' to performance reviews
▼ + stars: | 2023-02-22 | by ( Sindhu Sundar | Hugh Langley | ) www.businessinsider.com time to read: +3 min

Uber is conducting "even more rigorous" performance reviews this year, a representative told Insider. Rather, these cuts are a function of more stringent performance reviews, they said. For instance, Insider has previously reported in December that Meta would take a stricter approach for its performance reviews in January. Meta planned to give its worst performance labels of "met most" expectations and "needs support," to about two times more employees, Insider reported. Uber reported a fourth-quarter revenue of $8.6 billion on February 8, a 49% year-over-year increase.

☆ Uber and Lyft Claim Big Gains for Their Ad Businesses
▼ + stars: | 2023-02-15 | by ( Patrick Coffee | ) www.wsj.com time to read: +4 min

Ride-hailing companies Uber Technologies Inc. and Lyft Inc. each say their nascent advertising businesses have grown significantly in recent months. PREVIEWThe ride-hailing rivals’ ad businesses are also important for the companies’ growth. Uber said increased ad revenue in the latest quarter was a key growth driver for its overall business. Lyft ad revenue increased “nearly seven times” in the fourth quarter compared with the previous quarter, according to Mr. Greenberger. But the companies’ ad prices offer a glimpse at their respective positions in the market.

☆ Finance Chiefs, Facing Another Year of Persistent Inflation, Prioritize Cost Savings
▼ + stars: | 2023-02-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

Finance chiefs are pushing their companies to do more with less as they face another year of rising costs. Obviously, we’re dealing with a very unique environment right now with the unprecedented level of cost inflation. But we’re not in that environment right now. Ideally, we can grow as the demand environment hopefully normalizes. And that’s going to give us more optionality as we better understand our demand for AI over time.

☆ Premarket stocks: Welcome to the 'rolling recession' economy
▼ + stars: | 2023-02-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Yet US manufacturing has likely already contracted into a recession, housing sales have plummeted, tech layoffs keep coming and corporate earnings growth is souring. “We continue to think the economy will suffer from rolling recessions, evidenced by the fact that corporate earnings growth is now entering its downturn,” wrote Sonders in a note on Wednesday. For five straight weeks, the bank’s clients have been big buyers of individual stocks and sellers of ETFs, she wrote. Disney revenue in the quarter rose 8% to $23.5 billion, edging past estimates of $23.4 billion from analysts surveyed by Refinitiv. The company reported revenue of $8.6 billion for the quarter, beating Wall Street’s estimates and marking a 49% increase from the prior year.

☆ Uber sets sights on profits in 2023 as pandemic pain eases
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

"The pandemic's impact on our Mobility business is now well and truly behind us," Khosrowshahi said. Shares of smaller rival Lyft (LYFT.O) rose as well following Uber's upbeat forecast. Uber, which operates in over 70 countries and 10,000 cities, said new rideshare products such as pre-booking, shared rides, car rentals and car-sharing was also boosting revenue. Analysts have raised concerns about smaller rival Lyft losing market share to Uber. Rideshare revenue surged 82%.

☆ Uber beats estimates and the stock is up
▼ + stars: | 2023-02-08 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Uber reported fourth-quarter earnings Wednesday that beat analysts' estimates. Revenue: $8.6 billion vs. $8.49 billion expected by analysts, according to Refinitiv. The company reported an adjusted EBITDA of $665 million, more than the $620 million expected by analysts, according to StreetAccount. Here's how Uber's largest business segments performed in the quarter:Mobility (gross bookings): $14.9 billion vs. 14.8 billion expected by analysts, according to StreetAccountDelivery (gross bookings): $14.3 billion vs. $14.3 billion expected by analysts, according to StreetAccount. There were 2.1 billion trips completed on the platform during the period, up 19% year over year.

☆ Uber CEO: We are not seeing any signs of consumer weakness at this point
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO: We are not seeing any signs of consumer weakness at this pointUber CEO Dara Khosrowshahi joins CNBC's 'Squawk Box' to discuss Uber's quarterly earnings results, consumer strength, and more.

☆ Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more
▼ + stars: | 2023-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Uber — The ride-hailing app's shares rose more than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts' estimate of an 18 cent loss, Refinitiv data showed. This year's adjusted earnings guidance missed StreetAccount estimates. Fortinet — The cybersecurity company's shares rose 11% after it beat analysts' estimates in the most recent quarter by five cents a share, according to StreetAccount. Under Armour earned adjusted EPS of 16 cents vs a StreetAccount estimate of 9 cents.

☆ Uber to steal a march on Lyft in resurgent rideshare market
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Uber Technologies Inc's (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm's presence in major markets around the world gives it the heft to deal with inflationary pressures. Dara Khosrowshahi-led Uber operates in multiple regions and has over the years built a massive food and grocery delivery business, while Lyft has mainly focused on rideshare in the United States. "Lyft is on the losing end of Uber's mobility and delivery network effect ... in a world of increasing focus on profitability, Lyft does not deliver," MoffettNathanson analyst Michael Morton said. Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data. "When we look at driver time spent data on a 2-year growth basis our concerns on Lyft losing market share are magnified ... we come away more concerned about Lyft's need to invest in incentives," UBS analyst Lloyd Walmsley said.

☆ Uber’s CEO almost said no to the job—then Spotify’s CEO convinced him to take it
▼ + stars: | 2023-01-28 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

When Uber first approached now-CEO Dara Khosrowshahi about leading the company, he ignored the call. It was 2017, and the rideshare app was going through a "historically difficult time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a recent interview. He was entering his twelfth year as Expedia's CEO, and still "having a great time," he told Roslansky. He was prepared to call Uber's board of directors and take himself out of the running for CEO — until one conversation with a friend changed his mind. The following morning, Khosrowshahi called the head hunter back — and in August 2017, he was announced as Uber's new CEO, after a unanimous vote from the board.

Uber Freight has laid off 150 employees, or about 3% of the segment's total headcount. The layoffs impact the division's Digital Brokerage team, Uber Freight CEO Lior Ron said in a Monday message viewed by CNBC. Uber launched its freight unit in 2017 with a belief that trucking companies and laden goods could be matched using the same concept that underpinned the company's ride-hailing technology. Uber CEO Dara Khosrowshahi said last week at the World Economic Forum in Davos that he isn't planning companywide layoffs. In Nov. 2022, delivery service DoorDash laid off 1,250 workers, or 6% of its headcount, weeks after ride-sharing platform Lyft cut 13% of its headcount.

☆ Uber Working With Auto Makers to Design EVs Customized for Ride-Sharing, Delivery
▼ + stars: | 2023-01-19 | by ( Sam Schechner | ) www.wsj.com time to read: 1 min

DAVOS, Switzerland— Uber Technologies Inc. is working with auto makers to design lower-cost electric vehicles tailored for its ride-hailing and delivery businesses, part of its effort to electrify its fleet. Speaking Thursday at an event hosted by The Wall Street Journal, Uber Chief Executive Dara Khosrowshahi said the company is working with manufacturers on vehicles optimized for city use, ferrying passengers and deliveries. For ride-sharing, that includes cars with lower top speeds and with seating areas where passengers can face each other.

☆ Davos 2023-Uber not planning any company-wide layoffs -CEO
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: 1 min

DAVOS, Switzerland, Jan 19 (Reuters) - Uber Chief Executive Dara Khosrowshahi said in Davos on Thursday that he was not currently planning any company-wide layoffs. The rideshare and delivery company has worked to cut costs for months, early enough relative to others that a memo the CEO wrote on this tougher stance "landed a bit like a lead balloon initially," Khosrowshahi said at a Wall Street Journal event on the sidelines of the World Economic Forum's annual meeting. For daily Davos updates in your inbox sign up for the Reuters Daily Briefing here. Reporting by Jeffrey Dastin; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

☆ Uber CEO: Starlink is an information lifeline for the Ukrainian people
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO: Starlink is an information lifeline for the Ukrainian peopleDara Khosrowshahi, Uber CEO, joins 'Squawk Box' to discuss the CEO's recent trip to Ukraine, the war support efforts he saw, the cost of Uber's operations in Ukraine, and more.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

Search resuls for: "Khosrowshahi"

25 mentions found