{"id":120777,"date":"2017-11-13T17:56:32","date_gmt":"2017-11-13T22:56:32","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=120777"},"modified":"2017-11-13T18:00:42","modified_gmt":"2017-11-13T23:00:42","slug":"is-uber-finally-on-the-rebound","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2017\/11\/is-uber-finally-on-the-rebound\/","title":{"rendered":"Is Uber Finally on the Rebound?"},"content":{"rendered":"
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Uber CEO Dara Khosrowshahi has faced one problem after another since his arrival at the company. This trend may finally be changing.<\/figcaption><\/figure>\n

The last 18 months or so have been difficult for ride-sharing giant, Uber; however, it appears the tide is turning for the San Francisco-based firm.<\/p>\n<\/div>\n

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The company announced that Japan’s SoftBank is partnering\u00a0with\u00a0Dragoneer\u00a0Investment Group to\u00a0buy\u00a0$1 billion of Uber Technologies\u00a0stock.<\/p>\n<\/div>\n

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News Now!<\/figcaption><\/figure>\n

\u201cWe\u2019ve entered into an agreement with a consortium led by SoftBank and\u00a0Dragoneer\u00a0on a potential investment,\u201d Uber said in a statement. \u201cWe believe this agreement is a strong vote of confidence in Uber\u2019s long-term potential.\u201d\u00a0\u00a0<\/p>\n<\/div>\n

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SoftBank, a Japanese\u00a0conglomerate\u00a0has\u00a0become very active\u00a0in Silicon Valley,\u00a0Dragoneer\u00a0buy\u00a0$1 billion to $1.25 billion in Uber. Additionally, it will\u00a0buy stock from other investors with a goal\u00a0of reaching a 14% ownership stake in the company.<\/p>\n<\/div>\n

(Uber wants to\u00a0launch flying cars over Los Angeles by 2028 for the Olympics. To read more, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/div>\n
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The\u00a0company noted that the agreement\u00a0\u201cwill help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance,\u201d the statement said.<\/p>\n

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Former Uber CEO Travis Kalanick was part of the reason for the delay in a deal that could lead to an Uber IPO in 2019.<\/figcaption><\/figure>\n<\/div>\n
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The big news out of the deal is that once complete, it will permit the company to move forward with a\u00a0long-awaited IPO. Uber is valued at $68.5 billion, but it’s all locked up in private shares held by investors, founder Travis Kalanick and employees.<\/p>\n<\/div>\n

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Kalanick and some investors part of the reason the deal took time to be completed as they had issues with some tenets of the agreement. Those have been resolved, and\u00a0the initial public offering is expected to\u00a0take place before the end of 2019.<\/p>\n<\/div>\n

(<\/em>Click Here<\/a><\/span>\u00a0for more on Uber Elevate.)<\/em><\/strong><\/div>\n
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The company’s ongoing battle with the city of London as well as its drivers may be settled with a new compromise.\u00a0Last\u00a0week, the company suffered a setback when the U.K. employment tribunal found against Uber in its appeal about the classification of drivers as employees, not self-employed\u00a0contractors.<\/p>\n<\/div>\n

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This would ascribe a series of rather expensive “rights” to drivers, such as vacation time, sick leave and a minimum wage. Uber has always treated the drivers as self-employed contractors. The company is also battling to get its business license back so that it can operate in London.<\/p>\n<\/div>\n

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It’s where these to meet that compromise may be had.\u00a0London mayor Sadiq Khan said on Sunday he supported efforts by the city\u2019s transport regulator Transport for London to try to reach a compromise with Uber after the taxi app confirmed it would appeal in a running row over workers\u2019 rights, according to The Guardian.<\/p>\n<\/div>\n

(To see more about the long-term impact of Uber’s trials and tribulations, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/div>\n
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\u201cUber are challenging Transport for London through the courts as is their right to do so … I support the TFL commissioner meeting with the global CEO of Uber to see if we can reach a compromise,\u201d Khan told the BBC\u2019s Andrew Marr show.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The past 18 months have been trying times for Uber, but is the ride-sharing company finally over the hump? A $1B stock deal may be the start. Find out more at TheDetroitBureau.com.<\/p>\n","protected":false},"author":4389,"featured_media":118597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[8],"tags":[],"make":[],"post-state":[],"category_old":[151],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120777"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/4389"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=120777"}],"version-history":[{"count":0,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/118597"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=120777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=120777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=120777"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=120777"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=120777"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=120777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}