Friday Five: January 15 - 19
- Read in: 4 mins
- by: Jerry Caggiano
With ride-hailing services continuing to gain momentum in 2018, Lyft has released a report that shows just how much growth they have experienced. Total rides increased 130% year-over-year reaching 375.5 million rides. The tremendous growth in 2017 comes from a 92% increase in different passengers, and a 100% growth in drivers. Lyft claims “A quarter of those on the platform say they don’t feel personal vehicle ownership is that important anymore”.
Apple is making moves. With the latest pledge, Apple looks to add data centers, build a new campus, bring advanced manufacturing jobs, and expand coding initiatives in the United States. The $350 billion investment in the US economy, $55 billion this year, plans to also create 20,000 new jobs, and grow local economies.
As Google continues to ramp up its efforts in China, Tencent is continuing its push into the global market. The two have announced a patent cross-licensing agreement, which is valued at over $500 billion.
With 238 cities applying for HQ2, Amazon has narrowed the list of contenders to just 20. The final 20 cities offered huge tax incentives and development sites, along with other creative ideas to attract HQ2. Amazon looks to spend over “$5 billion on the new project, and add up to 50,000 jobs to its new headquarters.”
After a month, the $1.2 billion deal involving Uber and a group of investors led by SoftBank has finally closed. SoftBank acquired 15% stake in Uber which prompted for several changes in governance, including an addition of two new board members.