Sharing Economy News
Our latest news coverage of the sharing economy, from on-demand transportation and accommodation, through to personal services and peer-to-peer finance.
HelloFresh to spend nearly $60 million for new hires in tight labour market
HelloFresh will spend 50 million euros (approximately $58.91 million) to recruit 1,000 new tech employees across Germany, the United States, Canada and Australia over the next 12 m...
DoorDash sues New York over customer data law, second lawsuit in week
DoorDash Inc sued New York City over a new law requiring food delivery companies to share customer data with restaurants, saying it violates customer privacy and lets restaurants c...
Tech workers bemoan China’s crackdown on compulsory overtime
The Chinese communist government’s campaign to improve conditions for workers has spurred companies, particularly some of its tech giants, to cut down on long hours of compul...
Russia’s Yandex restructures JV ownership with Uber in $1 billion deal
Yandex has said it would buy Uber’s stakes in their joint FoodTech, delivery and self-driving businesses, and increase its stake in a mobility-focused joint venture as part o...
Uber proposes industry-wide gig worker benefits model in Canada
Uber Technologies Inc has proposed a plan for a flexible benefits fund for app-based ride-hail and food delivery drivers in Canada under which all gig industry players would share ...
New York City approves licenses, commission caps for food-delivery apps
The New York City Council has approved legislation to license food-delivery apps including Grubhub, DoorDash and Uber Eats and to permanently cap commissions they can charge restau...
Didi suspends UK launch plans amid China crackdown on tech firms
Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph has reported, against the backdrop of a regulatory bac...
For bank regulators, platform giants are now ‘too big to fail’
More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re n...
Takeaway.com posts operating loss of $224 million, sees improvement in second half
App-based delivery giant Just Eat Takeaway.com has reported a better-than-expected operating loss of 190 million euros (approximately $224 million) for the first half of 2021.
China’s Didi improves pay transparency for drivers
Didi Global Inc has said it will provide its drivers in several Chinese cities with more details on the fees they receive, the first big move by the ride-hailing giant after state ...
DoorDash revenue beats as food delivery demand booms
DoorDash Inc beat quarterly revenue estimates, as the pandemic-era surge in food delivery stayed strong even after easing curbs and growing vaccination rates encouraged people to d...
Germany’s Delivery Hero takes 5.1% stake in rival Deliveroo
Germany’s Delivery Hero has taken a 5.09% stake in online food delivery rival Deliveroo, driving the British company’s share price to its highest since listing on the s...
Uber and Lyft take different spending routes in race to add drivers
A return to business as usual for Uber Technologies Inc and its rival Lyft Inc has thrown up a new challenge to the ride-hailing firms looking for profitability – spend more ...
Uber posts $509 million adjusted loss on driver incentives even as trips rise
Uber Technologies Inc reported widening losses as it spent more to entice drivers to return to its platform, sending shares of the ride-hail and food delivery company down in after...