- Uber Technologies has established itself as a tech giant innovator over the course of a decade since it launched ride-sharing services in California’s Bay Area, now with transportation operations in 67 countries
- The company has threatened to leave California, however, if it is unsuccessful in drawing enough voters to support a ballot measure in November that would nullify state law requiring gig economy giants to reclassify their contract workers as employees
- Uber also faces similar legal challenges in other states and overseas, but continues to demonstrate its resourcefulness through M&A activity that has added new channels for revenue
- The acquisition activity is providing the company with a necessarily diversified revenue stream at a time when its flagship ride-share operations are witnessing a devastating plunge in use as a result of the COVID-19 pandemic
- Uber’s Eats and Freight divisions have seen growing traffic as a result of the pandemic, and Uber launched two new courier services in the spring that also are helping the company to remain nimble amid the new health crisis trends
Uber Technologies (NYSE: UBER) emerged as a world-class innovator when it launched its disruptive ride-share business a decade ago, drawing on the Big Tech mindset of liberating the worker from the daily workplace grind to better breed employee engagement and productivity (http://nnw.fm/QWCjC). The company now finds itself in a high-cost battle to preserve its established brand operations in various U.S. states and abroad, and with a potential time limit drawing near it continues drawing on its ability to innovate for simple survival as well as to deliver new successes.
“This is the 21st century. People don’t have jobs; they have gigs. This is a vast improvement over the industrial revolution way of thinking, where you go to the factory and put part A into slot B for 8 hours a day,” investment strategist and publisher Jared Dillian wrote in a Bloomberg LP media opinion piece favoring Uber amid the…
For more information, visit the company’s website at www.Uber.com.
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