Never miss a story

Get subscribed to our newsletter


×
Photo shows an exterior view of the headquarters of Uber in San Francisco. (VOA)

The self driving unit of global ride-sharing major Uber has announced a $1 billion investment from Japanese conglomerate SoftBanks Vision Fund, car manufacturer Toyota and automotive component supplier Denso.

“Excited to announce Toyota, Denso and the SoftBank Vision Fund are making a $1 billion investment in Uber, as we work together towards the future of mobility,” Uber CEO, Dara Khosrowshahi tweeted late on Thursday.


Toyota and Japanese auto-parts supplier Denso will together invest $667 million, while Softbank’s Vision Fund will invest $333 million. SoftBank is already Uber’s largest shareholder, the CNBC reported.

Car maker Toyota invested $500 million in Uber in August 2018 when the two companies announced their intention to bring pilot-scale deployments of automated Toyota Sienna-based ridesharing vehicles to the Uber ridesharing network in 2021.


Uber app.

Uber officially filed its IPO process last week with the public filing of its prospectus. It would be listed on the New York Stock Exchange (NYSE) under the symbol “UBER”.

“We have incurred significant losses since inception, including in the United States and other major markets. We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability,” the company had said in the “S-1” form or the IPO Prospectus submitted to the Securities and Exchange Commission.

Also Read- WhatsApp Testing Official Emojis for Status Doodling

The company noted that as of December 31, 2018, it had 91 million or 9.1 crore monthly active platform users. There were 3.9 million or 39 lakh drivers on the platform by the end of 2018.

According to market sources, the company may provide a price range for its shares later in April and would go public in May. (IANS)


Popular

VOA

Logs cut from virgin Amazon rain forest are placed in a pile, in Brazil's northeastern Amazon region, February 11, 2008.

GENEVA — The battle to stem climate change may be lost as new information indicates the Amazon rain forest is turning from a carbon sink – or area that absorbs CO2 – into a source of carbon dioxide, the World Meteorological Organization warns.

The latest edition of the WMO's Greenhouse Gas Bulletin reports emissions of carbon dioxide, methane, and nitrous oxide once again broke all records last year.

Keep Reading Show less
Photo by Amy Elting on Unsplash

Let us educate each other that we are all beautiful in our way and don't need to fit in the so-called standards set by our draconian society.

Receiving compliments is something that a majority of us enjoy. Compliments, after all, make us feel good about ourselves. Sometimes compliments intended to be flattering turn out to be a tremendous turn-off, and in some cases, they are insulting. 'Beauty with brains is one of those compliments. So, is 'beauty with brains' a compliment? Without further ado, I would confidently say- NO! It doesn't matter what your gender, colour, or identity is. The answer is clearly a no.

Beauty with a brain suggests that you can only have one of these qualities and that you are an 'exception' if you possess both. "Oh, Wow! You are a beauty with brains" is a phrase that women often hear. This statement is used when a female exhibits characteristics that indicate she is intelligent. People are taken aback if they see a wise and beautiful woman because women are stereotyped to be either beautiful or brainy. The concern with this is that it is naturally assumed that men are intelligent. Women, on the other hand, are supposed to have a natural beauty. If she isn't attractive according to the norms laid down by society, it is expected that she would at the very least be intelligent. When someone manages to be both, it is regarded as a significant accomplishment.

Keep Reading Show less
Wikimedia Commons

"Malgudi is where we all belong, and where we wish we lived."

Malgudi, a small fictional town in South India has been part of the childhood of most Indians. It is an old, shabby, and peaceful town that is unruffled by politics. The stories set in this small town ring the sense of belongingness in the hearts of its readers. The familiar feeling that feels like home resonates with their soul. And teaches important life lessons to the readers through simple tales. Malgudi Days is one of the books that every Indian child should read. The book is a compilation of 32 short stories that paint a beautiful picture of small-town in India around the '60s and '70s

R. K. Narayan, one of the most well-known and popular writers within India and outside India is the creator of this town and the occurrences of this town. The stories follow the characters Swami and his friends through their everyday lives. Be it the story of fake astrologers who scam and loot the people by his cleverness, or the story of a blind beggar and his dog where the money blinded the man with greed; each story has a lesson to learn, morals and values hidden in it. As the stories are simple, easy to understand yet heart-touching it makes it easy for the kids to connect with each character and imagine the story as if the reader themselves were the protagonist of the story. In simple words, we can say that R.K. Narayan simply told stories of ordinary people trying to live their simple lives in a changing world.

Keep reading... Show less