Regulations

Uber Seeks Another $1 Billion In Funding

Posted on October 28, 2015

Uber Seeks New Mega-Round Of Funding: The ride-sharing juggernaut is reportedly seeking to raise $1 billion in funding just three months after closing its last mega-round, the New York Times reports, citing people familiar with the deal talks. The new investment would bring the company’s valuation as high as $60 billion to $70 billion, the Times says. Fortune Magazine article here

Related: Is Uber Really Worth Another $1 Billion?

Safety Officials Recommend 4 Tips For Using Uber: While many students rely on Uber for a ride home, other students have reported that they have encountered impostor Uber drivers, while other Uber users have reported being assaulted by their drivers. USA Today article here

Aviation Version Of Uber Fights Regulators: California-based Flytenow Inc. — the aviation version of the ride-sharing companies Uber and Lyft — is locked in a court battle with federal regulators, who contend the emerging air-pool business amounts to an illegal charter operation. Los Angeles Times article here

Uber Fee Advances In Chicago City Council: Transportation network companies such as Uber and Lyft will pay a new 2 cent per-ride fee under legislation the City Council's finance committee advanced Oct. 26. Crain's Chicago Business article here

Concerns About Uber, Lyft Aired During Roundtable: There were arguments last week for and against ride-sharing, an airing of concerns about worker protections and insurance coverage as well as pleas from business leaders to do something about current taxi service in the state Capital. Politico New York

Phoenix Airport, TNCs Deadlock Over Background Checks: Uber is turning to its fans for support as it seeks approval to pick up passengers at Phoenix Sky Harbor International Airport. AZCentral.com article here

How Foolproof Are Driver Background Checks? Fifty-three drivers who failed background checks to become Uber drivers have been issued chauffeur’s licenses by the City of Austin, according to an internal Uber audit. Of 163 Austin cab drivers who applied to Uber, 53 “were prevented from partnering with Uber due to failing Uber’s background check process." KXAN-TV article and video here

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