June 24, 2017

Could Uber Be in Danger of Losing Its “Most Valuable” Title?



Uber app startup page and Uber search cars map on the angled front view white and black Apple iPhones 5s
Copyright: alexeyboldin / 123RF Stock Photo

Uber, the world’s most valuable private tech company, has had a bad few months. Between allegations of sexism and sexual harassment ; a federal inquiry over its use of a tool to evade authorities and regulators; a Trump-related P.R. crisis that resulted in some 200,000 people deleting their accounts; a viral video of C.E.O. Travis Kalanick blowing up at a driver; a lawsuit that accuses Uber of colluding to illegally obtain proprietary technology; and an internal investigation that is expected to yield even more bad headlines, the ride-hailing company is not the invincible behemoth it was last year. According to The Information, Uber’s secondary market value has fallen 15 percent , from about $70 billion to $50 billion.

And yet the world continues to rub salt in Kalanick’s wounds. According to an analyst note published by Morgan Stanley, Waymo—the Google-owned driverless car start-up currently suing Uber for allegedly stealing its trade secrets— could be worth $70 billion if it was spun out as its own company. Equity analysts Brian Nowak and Adam Jones conclude that Waymo’s new partnership with Lyft will allow the company to get more mileage—and more data—out of its cars, allowing it to […]

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About NGE Staff 9013 Articles
The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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