Tag: Uber

Egypt’s competition watchdog warns Uber and Careem could face up to $28 million in fines each for merger

Egypt’s competition watchdog warns Uber and Careem could face up to $28 million in fines each for merger

Business, Mobile
Egypt’s competition watchdog has warned Uber and Careem once again against the merger. The regulator, Egyptian Competition Authority, had first warned the two companies last month against a merger amid rumors about acquisition and merger talks between them. But this time, the authority has gone a step further and said that they could slap fines of up to 500 million EGP ($28 million) per infringement on each person relevant person (read: party) involved in the deal. Dr. Amir Nabil, Chairman of the Egyptian Competition Authority, in a statement issued last week, said, “Uber and Careem are the only ride-hailing applications available in Egypt. Any anticompetitive interaction or harmonization of their business strategies including agreement to merge has the potential to cause serious and ir
Taxify overtakes Uber in African cities

Taxify overtakes Uber in African cities

Business, Startups, Technology
Uber was the pioneer taxi hailing app in Africa, but that seems to be changing, the Estonian company Taxify is taking the fight for market share in Africa with Uber to places where Uber isn’t. Much of Taxify’s expansion has been due to being bankrolled by its recent $175 million capital raise—a funding round which valued the company at more than $1 billion. Taxify’s backers include Daimler, the German car giant and Didi Chuxing. In South Africa, Taxify is in fierce competition with Uber in Cape Town, Durban, Johannesburg and Port Elizabeth but has also expanded to Polokwane. It is set to also launch in East London later this month. In addition to Lagos and Abuja, the only two cities where Uber currently operates in Nigeria, Taxify has launched operations in Ibadan, Nigeria’s largest
EU Court Approves France Ban of Uber Service Without Informing Brussels

EU Court Approves France Ban of Uber Service Without Informing Brussels

Business, Governance
The EU’s top court on Tuesday dealt another blow to US taxi hailing  giant Uber by backing the right of France and other member states to ban an illegal taxi service without notifying Brussels regulators. The European Court of Justice ruled in favour of a French ban of the UberPop service that links amateur drivers with customers through a smartphone application, four months after taking a similar decision over a case in Spain. The Silicon Valley firm has been left with its UberX service, which uses licensed professionals, in France and Spain as well as most other European Union countries. In a conciliatory tone, Uber said it is “appropriate to regulate services such as Uber” and pledged to “continue the dialogue” with authorities in European cities where it has met fierce opp
Uber’s largest shareholder wants it to exit 15 African Cities and Asia

Uber’s largest shareholder wants it to exit 15 African Cities and Asia

Business
Uber could soon be pulling out of some international markets, including 15 African cities, if its new majority shareholder has its way. A new $8 billion investment by a consortium led by SoftBank, the Japanese tech giant, has seen the group acquire 17.5% stake in Uber. SoftBank’s 15% share makes the Japanese firm Uber’s largest shareholder. Uber says it hopes the investment will allow the company “double down” on providing its service “to more people in more places around the world,” in a statement to the Financial Times (paywall). But that appears to be at odds with SoftBank’s vision for the company. Rajeev Misra, a board director with SoftBank, believes the ride-hailing company has a better chance of success—and profitability—if it focuses only on core markets such including US
Uber and BBM Messenger Partner to Bring On Demand Rides to BBM Users Around the Globe

Uber and BBM Messenger Partner to Bring On Demand Rides to BBM Users Around the Globe

Uncategorized
Creative Media Works, operating as BBM Messenger, has partnered with Uber, the world’s largest on-demand ride-sharing company, to launch the Uber ride-on-demand service within BBM Messenger. Users around the world will have access to this new service, including Indonesia – BBM’s largest market – Africa, Asia, Europe, North America, and the Middle East. The tie-up between two of the world’s leading technology platforms means that BBM Messenger users – both Android and iOS – can book an Uber ride via the Uber icon in the BBM Discover menu, without leaving the BBM app or having to have the stand-alone Uber app on their phone. BBM Discover is a high-valued space within BBM Messenger, designed for high impact and reach while giving partners access to the power of social chat. Uber Rid