Lizette Chapman

Business, Technology

Lyft to Cut 2% of Staff in Pursuit of a Profit Next Year

Signage is displayed during the Lyft IPO at the company's service center in Los Angeles in March 2019. Signage is displayed during the Lyft IPO at the company's service center in Los Angeles in March 2019. (Kyle Grillot/Bloomberg News)

Lyft Inc. will eliminate about 90 jobs as the unprofitable ride-booking company seeks to deliver on a promise to stop losing money by the end of next year.

Lizette Chapman | Bloomberg News
January 29, 2020
Business, Technology

Uber Tests Letting Some California Drivers Set Their Own Fares

Uber is testing letting some California drivers set their own fares. A traveler uses a smartphone while waiting for a ride share ride in Oakland in August 2019. (David Paul Morris/Bloomberg News)

The feature is being tested across some airport routes “to preserve flexible work” for California drivers, a spokesman said.

Lizette Chapman | Bloomberg News
January 22, 2020
Government, Business, Technology

Uber Tweaks App in California to Comply With State Law

Uber An Uber office in Secaucus, N.J., in November 2019. (Seth Wenig/Associated Press)

Uber Technologies Inc. overhauled its ride-hailing app for California users, tweaking fares and features to respond to a new state law designed to reclassify drivers as employees.

Lizette Chapman | Bloomberg News
January 8, 2020
Business, Technology, Autonomous

Uber’s Travis Kalanick to Leave Board to Focus on New Business

Kalanick Kalanick via Scott Eells/Bloomberg News

Uber Technologies Inc.’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups.

Lizette Chapman | Bloomberg News
December 27, 2019
Business, Technology

Lyft Forecasts Profit by End of 2021, Sending Shares Surging

A Lyft driver with map visible on phone A Lyft driver navigates to a passenger. (Mike Coppola/Getty Images for Lyft)

Ride-hailing company Lyft Inc. is expected to turn a profit by the end of 2021, a year earlier than analysts had expected, company executives said.

Lizette Chapman | Bloomberg News
October 22, 2019
Business, Technology

Uber to Acquire Chilean Grocery Startup That Walmart Failed to Buy

Uber David Paul Morris/Bloomberg News

Uber Technologies Inc. plans to buy a majority stake in online grocer Cornershop, a deal designed to both extend its geographic reach and bolster profits by bundling food delivery with rides.

Lizette Chapman | Bloomberg News
October 11, 2019