Regulations

Uber Looks To Raise Money As Taxi Industry Opposition Grows

Posted on May 30, 2014

Marketwatch: Uber Inc. is hailing a group of large fund managers to raise near or above $500 million in funding, according to people familiar with the matter.

Boston Globe: According to Uber, the median wage for an UberX driver working at least 40 hours a week in New York is $90,766 a year. In San Francisco, for an UberX driver working at least 40 hours a week it is $74,191.

Govtech.com: Fifteen taxi companies in Connecticut asked a federal court Wednesday to stop ride-sharing services Uber Technologies and Lyft Inc from operating in the state.

Buffalo News: Buffalo, N.Y. city officials have warned that drivers could be subject to tickets or the impoundment of their vehicles because of laws already on the books governing taxicabs and livery services.

BizSmart.com: If someone invented a tool to instantly transform your antiquated, inefficient boondoggle of a business — just barely tolerated by customers — into a streamlined model of efficiency and customer satisfaction, would you embrace it? Or would you fight to drive it off the face of the earth? Because for some reason, cab drivers across the nation are engaged in a battle against urban transportation progress, also known as Uber.

Gigaom.com: New AT&T Android devices will come preloaded with Uber’s car-hailing app this summer, and Uber will use AT&T’s networks to connect its drivers across the country. It’s a new twist on AT&T’s connected car strategy.

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