Uber Eats Its Way to New Revenues Amid Post-IPO Profitability Concerns

Investor sentiment in Uber is rapidly sinking. Since last week’s initial public offering, the company’s stock has nosedived, dropping from the initial price of $45 per share last Thursday to $38 on Tuesday. One reason for the poor stock performance, according to analysts, is an unclear path to profitability. But ride-hailing aside, there may be a lucrative model buried in all that red, specifically the company’s food delivery service. Growing exponentially faster that its ride-hailing business, Uber Eats has a clear mission: Satisfy the swelling craving for food delivery. One of the largest food delivery services worldwide, Eats debuted in April 2015–about six years after Uber’s inception– and generated $1.5… Read More

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Jeff Bezos personally dumps a truckload of dirt on FedEx’s future

Amazon want to be plenty of things, the most predictable of which is its ambitions to control America’s shipping backbone. The company’s efforts to bring users whatever they desire in 24 hours requires movements by land, air and sea. Today, the company broke ground on expanding its airborne ambitions, breaking ground on a three million square-foot Prime Air airport outside Cincinnati (in Kentucky). In case the optics of three million square feet is lost on you, it’s essentially a parking garage for a 100 cargo jets. Amazon doesn’t even have that many jets yet, but the hub is a housing for the company’s grand logistics ambitions. Per Bezos’ tweet, Amazon… Read More

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2 top execs at $967 million data management company DataStax are leaving amid a reorganization, as it heads for a potential IPO

Two top executives at $1 billion data management startup DataStax are leaving the company. Steve Rowland, DataStax’s president, and Martin Van Ryswyk, executive vice president of product management and engineering at DataStax, will be leaving the company. DataStax is reportedly gearing up for an imminent IPO, which could value the company at as much as $1 billion. Visit Business Insider’s homepage for more stories. Two top executives are leaving DataStax, a $1 billion data management startup that is gearing up to go public this year. Steve Rowland, the company’s president, and Martin Van Ryswyk, executive vice president of product management and engineering, are both transitioning out of DataStax, the company… Read More

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Trendy luggage brand Away packs on $100M, rolls past $1.4B valuation

Away‘s new lofty valuation proves how far you can get with excellent branding. The direct-to-consumer seller of Instagrammable luggage has collected $100 million in new funding at a $1.4 billion valuation in a round led by Wellington Management, with support from Baillie Gifford, Lone Pine Capital and Global Founders Capital, reports The Wall Street Journal . We’ve reached out to Away for comment. The capital will be used to build additional brick-and-mortar stores, as well as add to Away’s portfolio of merchandise with an eye toward expanding into generic travel gear. To date, Away has sold more than 1 million suitcases. “When someone’s going on a trip, we want to… Read More

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San Francisco becomes 1st major city to ban facial recognition technology

The San Francisco Board of Supervisors voted 8-1 on Tuesday to prohibit the use of facial recognition technology by police and municipal agencies. The technology is being used in many airports, stadiums, and other places where a large number of people gather, with law enforcement agencies turning to the tech in order to search for suspects. Police in New York City, Las Vegas, Boston, San Diego, Orlando, and Detroit use facial recognition technology, Dave Maass, senior investigative researcher at the Electronic Frontier Foundation, told The New York Times; in San Francisco, it’s only used at the airport and ports, which are all under federal jurisdiction and exempt from the ban.… Read More

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