By Heather Somerville

Alphabet executive steps down from Uber board amid growing competition

By Heather Somerville SAN FRANCISCO (Reuters) - Alphabet executive David Drummond, who has been a director on the Uber Technologies Inc [UBER.UL] board for close to three years, has stepped down, the ride-hailing firm confirmed on Monday. The move...

Tuesday, August 30, 2016, 5:43 AM

Nutanix acquires two startups amid IPO delay

By Heather Somerville SAN FRANCISCO (Reuters) - High-tech computing company Nutanix has acquired two startups to enhance its data and storage services, as the firm continues to grow its business despite a protracted delay in its initial public offering...

Monday, August 29, 2016, 7:03 AM

Economists see ride-hailing industry as ripe for competition

By Heather Somerville SAN FRANCISCO (Reuters) - Chinese powerhouse Didi Chuxing's acquisition of Uber Technologies Inc's China operations marked the biggest move yet toward consolidation in an industry that many investors and Silicon Valley pundits view as a...

Friday, August 26, 2016, 1:51 PM

Economists see ride-hailing industry as ripe for competition

By Heather Somerville SAN FRANCISCO (Reuters) - Chinese powerhouse Didi Chuxing's acquisition of Uber Technologies Inc's China operations marked the biggest move yet toward consolidation in an industry that many investors and Silicon Valley pundits view as a...

Friday, August 26, 2016, 1:49 PM

Square posts job openings signaling European expansion

By Heather Somerville SAN FRANCISCO (Reuters) - U.S. mobile payments company Square Inc posted three new job openings in Europe on Thursday, signaling it is moving closer to ramping up operations in the region through an initial venture in Britain....

Friday, August 19, 2016, 6:00 AM

About a third of U.S. tech unicorns will see valuation fall: report

By Heather Somerville SAN FRANCISCO (Reuters) - Nearly one-third of private tech companies in the United States that have achieved "unicorn" status will eventually be worth less than $1 billion, according to a report published Tuesday. The report from...

Wednesday, August 17, 2016, 5:08 AM

Didi's China dominance over Uber offers roadmap for ride-hailing rivals

By Heather Somerville SAN FRANCISCO (Reuters) - China ride-hailing service Didi Chuxing's dominance of Uber Technologies in the China market may provide a playbook for regional rivals to fend off the biggest U.S. ride-hailing company, especially in Southeast...

Tuesday, August 2, 2016, 7:49 AM

Didi's China dominance over Uber offers roadmap for ride-hailing rivals

By Heather Somerville SAN FRANCISCO (Reuters) - China ride-hailing service Didi Chuxing's dominance of Uber Technologies in the China market may provide a playbook for regional rivals to fend off the biggest U.S. ride-hailing company, especially in Southeast...

Tuesday, August 2, 2016, 7:49 AM

U.S. Judge denies Uber motion to compel arbitration in surge-pricing lawsuit

By Heather Somerville SAN FRANCISCO (Reuters) - A federal judge on Friday denied a motion by Uber Technologies Inc [UBER.UL] to compel arbitration in a passenger lawsuit over so-called surge pricing brought against the ride-hailing company's chief executive...

Saturday, July 30, 2016, 4:57 AM

Investments in online lenders fall 44 percent as investors shy from risks

By Heather Somerville SAN FRANCISCO (Reuters) - Investments into online lending platforms have fallen sharply this year, according to a new report, largely a reaction to the woes at Lending Club and increased regulatory scrutiny that have made investors shy away...

Friday, July 29, 2016, 9:32 PM

Zenefits fined $62,500 by Tennessee regulators in first settlement on licensing

By Heather Somerville SAN FRANCISCO (Reuters) - Software startup Zenefits must pay the state of Tennessee $62,500 for violating insurance requirements, state officials said on Monday, marking the first settlement with regulators as the scandal-hit company seeks to...

Monday, July 25, 2016, 4:18 PM

Peter Thiel tells Republican convention he is 'proud to be gay'

By Heather Somerville SAN FRANCISCO (Reuters) - Silicon Valley investor Peter Thiel, the only big-name supporter of Donald Trump from the country's technology hub, spoke on Thursday at the...

Friday, July 22, 2016, 9:29 AM

Peter Thiel tells Republican convention he is 'proud to be gay'

By Heather Somerville SAN FRANCISCO (Reuters) - Silicon Valley investor Peter Thiel, the only big-name supporter of Donald Trump from the country's technology hub, spoke on Thursday at the...

Thursday, July 21, 2016, 10:54 PM

Peter Thiel tells Republican convention he is 'proud to be gay'

By Heather Somerville SAN FRANCISCO (Reuters) - Silicon Valley investor Peter Thiel, the only big-name supporter of Donald Trump from the country's technology hub, spoke on Thursday at the...

Thursday, July 21, 2016, 10:54 PM

PayPal seeks to extend reach with Visa tie-up

By Heather Somerville (Reuters) - PayPal Holdings Inc <PYPL.O> moved to extend the reach of its online payments business through a deal with Visa Inc <V.N> that is expected to boost the revenue and number of users of the money-transfer service...

Thursday, July 21, 2016, 8:33 PM

PayPal seeks to extend reach with Visa tie-up

By Heather Somerville (Reuters) - PayPal Holdings Inc <PYPL.O> on Thursday showed strong growth in its online payments business, meeting Wall Street earnings expectations and announcing a partnership with Visa Inc <V.N> that is expected to boost the...

Thursday, July 21, 2016, 4:29 PM

Ag-tech startup Indigo raises $100 million new funding round

By Heather Somerville SAN FRANCISCO (Reuters) - Agriculture technology startup Indigo has raised $100 million in a new round of funding, bringing its total financing to more than $150 million, a sign of growing investor interest in new ways to ease food scarcity...

Thursday, July 21, 2016, 9:03 AM

Uber reaches 2 billion rides six months after hitting its first billion

By Heather Somerville SAN FRANCISCO (Reuters) - Uber has completed more than 2 billion trips on its app, the company's chief executive said on Monday, a milestone that arrives just weeks after the ride service added another $4.7 billion to its warchest...

Monday, July 18, 2016, 11:02 AM

Uber reaches 2 billion rides six months after hitting its first billion

By Heather Somerville SAN FRANCISCO (Reuters) - Uber has completed more than 2 billion trips on its app, the company's chief executive said on Monday, a milestone that arrives just weeks after the ride service added another $4.7 billion to its warchest...

Monday, July 18, 2016, 11:02 AM

Venture capital investments rebound for tech startups

By Heather Somerville SAN FRANCISCO (Reuters) - Venture capital investments in startups rebounded in the second quarter, as a general stock market recovery helped restore confidence, according to a new report published on Friday. Investors...

Friday, July 15, 2016, 12:13 AM