Uber to invest $500m to fight against Ola

Uber will be investing 500 million in Indian market. India is the 3rd biggest market to Uber after US and China. However it is the local company Ola which is ahead of Uber in India. Outside US India is geographically the biggest market for Uber.
Uber has also launched its engineering services in Bangalore, India. The engineering lab would develop technologies that will make it more adaptable to local market. Uber accepts cash in payments in India unlike other countries where it accepts cards. The application is also being optimized to operate in poor internet connections owing to the lack of connectivity in India. The engineering lab of Uber is the first of its kind in Asia by the company.
Uber on its effort to build a good rapport with the Indian government took part in the Start-up India initiative of the government. The company also agreed to mentor 10 start-ups from India who will visit Uber’s Headquarters by the end of the year 2016.
These moves by uber are to take out its fierce rival Ola. Ola is backed by Softbank and has collaborated with possibly every rival of Uber. Apart from car-hailing services both the rivals are fighting it out in motor-bike hailing service in Bangalore.
The rivalry is not limited to roads these companies have also fought against in court battles and war of words
The investment from Uber is backed by the strong belief of Uber’s CEO Travis Kalanick that Indian market would surpass even U.S and China

Ford to invest in Uber like business model

Manufacturing automobiles is a huge industry but today services developed by vehicles are getting bigger than that. Without owning a single car Uber, the car-hailing service is valued higher than Ford and General Motors. These are the companies which manufacture those cars at the first place.
These companies have therefore decided to venture into the services offered through vehicles. Ford is preparing to enter transportation services and has set a new “mobility division”. Ford is present in car-rental market in London with 25 such outlets. The driver needs to pay for usage by the mile. The service also includes free parking. The rental option will be launched in U.S shortly.
The company sources have stated that they may take up ride sharing service similar to Uber and Lyft as a part of transportation service in the future. The company is developing FordPass a Smartphone application which will let the users search for a rental car, hail ride similar to Uber and prepay for parking. The application will also help you to search for parking in a crowded area. This app directly competes with the General Motors Onstar service.
General Motors has already invested in Lyft and offers Lyft with Onstar services. GM will also some provide Lyft drivers with vehicles on rental basis. The future of transportation service is driverless car which can be popular in ride-sharing service. Every auto-maker and also tech giants like google and Uber are devolping driverless car.
Thus manufactures want to build vehicles and also capture the fleet of services surrounding the vehicles

Airports demand Finger-print check for drivers

Atlanta airport authorities demand Uber drivers should be checked with their finger prints to avoid divers with criminal record behind the wheel. Uber has agreement with more than 50 airports in U.S to operate without fingerprint based checking. The major airports in Los Angeles, Memphis Charlotte Tennessee, and North Carolina Atlanta’s city council will review the airport authorities plan when new rules will be laid down by the transportation authority committee.
Uber feels this new checking is a bureaucratic barrier to the drivers. However New York and Houston fingerprint their drivers. Los Angeles mayor has also asked the regulators for fingerprint based checking.
The background verification process of Uber does not include fingerprint checking. This may let criminals from other county or fake profiles to get behind the wheel. The centralized FBI fingerprint authentication is valid nationwide and filters criminals effectively.
In Houston the authorities have stated that certain Uber drivers who have cleared Uber verification have serious criminal records. Though the company has to comply with the fingerprint check, uber has smooth operations in Houston.
Even Lyft has stated its disagreement with Atlanta city council’s demands. The company’s main reason for disagreement begins with fact that such stringent checking leads to the distortion of its fine line between contractor and employee.
Uber and Lyft both do not treat their drivers as employee but only as contractors. Certain section of drivers feel that fingerprint checking is not a big hurdle to them neither time consuming.

Do Uber Values More Than Ford and GM

There are huge number unicorns, private startups worth billion dollars but there is only one Ubercon. Uber is looking forward to raise one billion dollars with the help of its backers, which enable the app to stand out in the ride sharing industry.

Uber’s final round of investment made the company to become the most valuable startup and it is planning to raise another one billion.

Uber would pass the market value of GM, Honda and Ford with 70 billion dollars, the three companies Uber should thank. Honda and Ford worth of around 60 billion dollars while GM has its value of about 55 billion dollars.

Some of the list of companies which are expected to do business more than Uber includes Costco, Lockheed Martin, Morgan Stanley, Lowe’s, Colgate Palmolive, Texas instrument, Time Warner, DuPont, MetLife, Time Warner cable.

Many experts are to planning to question about the stratospheric valuation of Uber and other startups, but one of the Uber investor says that all private valuations are fake.

It is clear from a report that the Uber’s revenue is getting doubled quickly and the company is effective in cities where it operates.

It is clear that 70 billion dollars mean paying a huge premier and incomplete information. Another unicorn Pure Storage which launched recently has its stock price of 17 dollars, but shares closed below that level on the first day of their trade. They rebounded again but tried to pick up only 7 percent from their offering price.

How Uber and Airbnb Reduce Their Tax Australian Tax Bill

This tax tenure was started in the last century, even when the internet has not been invented. During this term a foreign company requires the physical presence in Australia before it is earn income from Australian customers. This term is known as permanent establishment.

This permanent establishment concept is enclosed in most of the domestic tax laws as well as more than three thousand plus tax treaties in the world. It is evident that the business of a foreign country will be subjected to Australian tax only if the company has a permanent establishment in Australia.

The cannot able to tax the profit of a foreign company if it does not have a permanent establishment in Australia. The permanent establishment is not effective in today’s digital economy.

Uber’s tax service and business:

Uber established in the US has a totally owned subsidiary in the Netherlands, which in turn has wholly owned subsidiary in Australia.

The most important benefit of Uber is its digital platform that uses an app to link its drivers with passengers. This app was developed in Netherlands where the Uber Netherlands have the right to book income generated from Australian customers.

For Ex: if a customer pays a hundred dollars for a ride from Sydney through the Uber app then the money will be paid to Uber-Netherlands. Uber pays more than 75 dollars to the driver and remaining profit is booked in Netherlands.

These kinds of transactions happen in Australia including the customer, driver and the ride.

Uber delivers cute little kittens to people

Uber does feel-good campaigns often and we love it for that. This time, it has honored kitten lovers, how very sweet! It was a national cat day on 29th of October and there was an obvious “festive spirit” among the kitten lovers. Uber is known for its efficient service and also a long list of controversies. Hence the company does feel good campaigns to restore its lost fame due to its infamous controversies.

The San Francisco based company is famous in 150 countries across the globe. It is a potential threat to many local services and the so called traditional “yellow cabs”. According to several sources, the traditional taxis would be completely demolished in near future. We cannot blame Uber because it does many good services to its users and the ride fares are cheaper than those of local taxis. Start your own user for x with Ridey www.zoplay.com/web/uber-clone/

Uber delivered adorable kittens to people between 11 AM and 3 PM for just $30 upon request through its app and it has even change the mind of the so called “kitten haters”. People had the best 15 minutes of quality time with the cute little kittens. UberKittens has even made people to adopt kittens and we should definitely applaud the Uber team for that. The critics say the company does these services to distract the media and press attention from its “deep dark negative side”. But honestly speaking, the cute little kittens do grab our attention and make us to love Uber better than before!

The State Of Uber in U.S.

Uber terminates its latest struggle in ride sharing operation after a drop of NewYork city and its plans to limit its operation in the city.

The latest hurdle of the company is its fight in the NewYork city as it changed the regulations and requirements on multiple county, states and even municipal levels.

The service was first launched in the Salt Lake City, but not in St.George. Uber gets green light in Montana and is ready to open in the place, said an Uber spokesman. In Florida Broward County it will withdraw its service at the end of June after new law-making on the taxi fares which make it impossible for Uber drivers to connect with technology.

Uber now has its ride sharing service in more than 150 cities and is planning to extend further. Sometimes the company needs to conduct conferences within the boundary of the city as its agreement with the aviation authorities in order to serve the travelers at the San Diego’s airport.

The company declares the ride sharing agreement in a few cities and states and it deals with another four states and cities temporarily qualifying it to operate before formal regulations would arrive.

The company started in New York in the year 2011 has added up its number of vehicles every year.

Uber helps local economies by providing them a good fare system with an option of low income neighborhood and a number of economic opportunities for its drivers who create their own schedule.

Lyft Teams Up With Asian Rivals to Cope Up With Uber

Lyft, a ride hailing company in the United States announced a team up with its largest ride hailing rivals Ola, GrabTaxi and Didi kuaidi.

Uber is considered to be the world’s largest ride hailing company operating in 67 countries, which provides the facility for users to order rides through their Smartphone app.

Many of the Uber’s competitors are small and operate only in one or two markets. By this team up, the company can achieve more service adoption and scale in a very short period of time.

Lyft, which operates in more than 60 cities in the United States, is seeking 500 million dollars in funding. Partnerships are less expensive than establishing operations in multiple markets.

The company refused to reveal about the financial details of the partnership. Lyft joined with Didi, achise ride hailing company which provides the service to Chinese Didi Kuaidi app users who enters the United States. This service provides the facility for Lyft users to find and request for a ride in China with the Smartphone Lyft app where the request are fulfilled by drivers of Didi Kuaidi.

GrabTaxi is a ride hailing company operating in Indonesia, Singapore, Malaysia, Thailand, Philippines and Vietnam, whereas Ola operates in India. Through this partnership, Lyft users who travel to India can able to open the Lyft app there and local rides are supplied by Ola. This team up helps in having a different strategy for different users in the different parts of the world.

Uber would own every autonomous car built by Tesla in 2020

Uber, the ride hailing service is the most familiar network in many countries across the globe. Many local services are suffering from huge loss due to Uber’s massive success. You can even say those traditional so called “yellow cabs” are nearly extinct in many countries, no kidding guys! The company has tie ups and partnerships with huge brands in the industry for marketing purposes. Recently, Uber partnered with Nike to conduct marathon event that turned to be a huge success.

Elon Musk, the CEO of Tesla has announced that the company would produce self driving cars by the end of 2020. However, the statement was not officially put up in the company’s website. But it has grabbed a lot of media attention across the globe. A robot-car, how freaking cool is that? People would love to take rides in those fancy cars and Uber has got the same intention as well. Cars that are driven with no supervision of drivers, the company could made crazy profit of those cars! Travis Kalanick has even stated that he would buy every self driving car from Tesla in near future and he would now be having two dollar symbolic eyes.

The supreme autonomous cars would be driven at slower speed and it is a lot safer because it would avoid accident cases.  Uber is also known for many controversies and most of them are due to the public car drivers. These self driving cars would definitely put a full stop to those controversies!

Ontario PC’s Seek to Regulate the Sharing Economies Airbnb and Uber Province wide

Ontario provincial conservatives create a set of rules in order to regulate Airbnb, Uber and various sharing economies across the sector.

Former leader of provincial progressive conservative economy like to create some guidelines for the ride sharing company Uber, home rental companies Home away and Airbnb and some Parking spot apps like Toronto-made Rover.

Ontario is the first sector to regulate these sharing economies in Canada. This move happens as the cities across Ontario feel it hard to get adjusted to the massive increase of the ride sharing industries in order to compete with the traditional taxis and growing concerns about people who rent their home for short terms.

The move is to illustrate the rule to everyone to help families earn additional money with their already existing assets.

If the bill is passed, it regulates both the ride sharing economies and its drivers. Companies need to set clear rates, feedbacks should be allowed, policy of non-discrimination with respect to both neighborhood and passengers and vehicle safety standards for other reforms. Drivers will be blocked from street taxi hail and they should hold a proper driving license, insurance, criminal records, should not possess more than three driving violation record and age limit should be minimum of 21 years. Homeowners will be allowed to rent their home for over 120 days a year without having municipal license. Parking spot owners will be allowed to lease the space for 365 days without municipal interference.