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<keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>’s ambitious plans to launch their respective <a href="http://www.businessinsider.in/searchresult.cms?query=bike+taxi">bike-taxi services</a> have come to a halt as the Karnataka government said there are no rules on how to govern them.<br />
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This doesn’t mean that the bike-taxi services have been banned. They have been halted till the time the <a href="http://www.businessinsider.in/searchresult.cms?query=karnataka+government">Karnataka government</a> formulates a set of regulations under the Motor Vehicles Act on how to govern them.<br />
<br /> Till now, as per the transport department officials said the <keyword id="3273948" type="UNKNOWN" weightage="20" keywordseo="bike-taxi-services">bike taxi services</keyword> launched by <a href="http://www.businessinsider.in/Welcome-UberMoto-to-Bengaluru-a-brand-new-bike-taxi-service/articleshow/51236151.cms">Uber</a> and <a href="http://www.businessinsider.in/Ola-hits-at-Uber-with-cheaper-bike-taxis-in-Bengaluru/articleshow/51239417.cms">Ola</a> in Bengaluru last week, remain unlawful.<br />
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"Let them (Uber, Ola etc) first go before the Regional Transport Authority stating that they wish to run bike taxis. They will examine the request, and take things forward," transport commissioner Rame Gowda told ET, adding, "We cannot allow a white-board registration bike to offer taxi services. We will have to deal with many aspects including the security of users.”<br />
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Uber and Ola had taken advantage of no rules listed under the bike taxi services and launched the same in the IT hub.<br />
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In Karnataka, a bike is registered for personal use. If the owner of a bike wishes to use it for commercial purposes, then he or she cannot do that without first changing the vehicle to transport category.<br />
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However, in Goa, there is a provision for bike taxi services and they charge a minimum fare Rs 10 and a per kilometre fare of Rs 3.<br />
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Meanwhile, as per few reports, some Uber and Ola bike taxis were seized also for illegally running in <a href="http://www.businessinsider.in/searchresult.cms?query=bengaluru">Bengaluru</a>.<br />
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(Image: Indiatimes)<br />

Newly launched bike taxi services by Uber, Ola are unlawful until new regulations formulated

<ul><li>Uber asked the Delhi government to allow them to use 5,000 bike-taxis during the odd-even scheme. <br /></li><li>As of now, regulations do not allow bike-taxis to operate in Delhi.<br /></li><li>The company also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis. <br /></li></ul><br /><br /><br />US-based ride hailing platform Uber has made a submission to the Delhi government offering use of 5,000 bike-taxis to improve first and last mile connectivity during the odd-even scheme to be implemented next month, according to sources.<br /><br /><br />Currently, regulations do not allow bike-taxis to operate in Delhi.<br /><br /><br />According to sources, Uber has made the submission to the Delhi government proposing to deploy 5,000 bike-taxis to help ferry one lakh commuters to and from Metro stations every week.<br /><br /><br />The service is proposed to be offered for a fee of Rs 5 per ride, they added.<br /><br /><br />The company, which competes with Bengaluru-based Ola, has also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis during the odd-even scheme that will be implemented from November 4-15.<br /><br /><br />Uber did not respond to e-mailed queries on the matter.<br /><br /><br />A Delhi government official said a proposal was received from the cab aggregator but no decision has been taken on it as yet.<br /><br /><br />One of the persons aware of the development said bike-sharing provides a huge opportunity to unlock the potential of shared mobility through optimal utilisation of existing vehicles on the road.<br /><br /><br />The person said Uber, in its submission, has cited data that one out of two UberMOTO trips in Gurugram began or ended at a Metro station, while one in four such trips in Noida began or ended near a Metro station.<br /><br /><br />The odd-even scheme has been proposed as part of a slew of measures to combat high level of air pollution in Delhi caused due to stubble burning in neighbouring states during winters.<br /><br /><br />During the 12-day scheme, vehicles will ply alternately on odd and even dates as per their registration numbers. In the previous two experiments in January and April in 2016, a fine of Rs 2,000 was imposed on violators of the rule. In the past, two-wheelers and female commuters were exempted from the rule.<br /><br /><br /><br />

Uber wants to run bike taxis to go with Delhi's odd-even scheme

<br /> <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, which is India's largest mobility app, has started piloting Bike Taxis in Bengaluru after introducing bus services, thus strengthening its place in the mobility market. <br />
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The bike taxis would run at an introductory fare of Rs 2/km and Re 1 per minute of trip time would be added to the bill. In a statement by Ola, the minimum fare is reported to be Rs 30.<br />
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Pranay Jivrajka, Ola’s COO said, "We expect significant demand in the pilot phase and we will continue to scale this service up in the coming weeks to cover more areas in the city." <br />
<br /> On the other hand, Ola’s prime rival <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> has also announced the experiment of offering Bike taxis in Bengaluru, but at a higher cost of Rs 3/km. The minimum fare in Uber bike taxi rides would be Rs 15.<br />
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<a href="http://blog.olacabs.com/ola-bike-taxis-launched-in-bangalore/"><em>Image source</em></a><br />

Ola hits at Uber with cheaper bike taxis in Bengaluru

<ul><li>Delhi HC stays <keyword id="701249" type="General" weightage="50" keywordseo="transport-dept" source="Orion">Transport Dept</keyword>'s notice, saving Ola, <keyword id="1042120" type="General" weightage="80" keywordseo="uber" source="Orion">Uber</keyword>, and Rapido from suspension of ride-sharing services.</li><li>A division bench of Justices Suresh <keyword id="15491952" type="General" weightage="50" keywordseo="kumar-kait" source="Orion">Kumar Kait</keyword> and <keyword id="2581533" type="General" weightage="50" keywordseo="neena-bansal-krishna" source="Orion">Neena Bansal Krishna</keyword> directed the <keyword id="62110" type="General" weightage="100" keywordseo="transport-department" source="Orion">Transport Department</keyword> to refrain from taking any coercive measures against Rapido and other ride-sharing platforms.</li></ul>New Delhi, In a major relief to Ola, Uber, and Rapido, the Delhi High Court on Friday put a stay on the public notice and show cause notice issued by the city Transport Department, halting the ride-sharing platforms.<br /><br />A division bench of Justices Suresh Kumar Kait and Neena Bansal Krishna directed the Transport Department to refrain from taking any coercive measures against Rapido and other ride-sharing platforms until a comprehensive policy is formulated.<br /><br />In February, the app-based aggregators were prevented from plying bike taxis on the road without commercial permits.<br /><br />The Transport Department, ordering an immediate halt to the bike taxi services provided by these platforms, had warned that any violation will result in penal action.<br /><br />The public notice by the Transport Department said that the companies defying the orders will be fined up to Rs 1 lakh, as the use of bikes for commercial purposes violated the Motor Vehicles Act, 1988.<br /><br />Following the High Court decision, Uber has expressed its gratitude towards the court's order providing protection to the company against coercive actions regarding its bike taxi service in the capital city.<br /><br />"We welcome the High Court's order to give Uber protection from coercive action on bike taxis in Delhi. This will bring relief to drivers on our platform whose livelihood had been impacted by the ban as also to the hundreds and thousands of riders who choose to ride on Moto for affordability and last mile connectivity. We are committed to serving the city and being the platform of choice for riders and drivers alike," said Uber in a statement.<br /><br />SEE ALSO:<br /><a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a><br /><a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a><br />

Relief for ride-sharing platforms as Delhi HC put stays on Transport Department notice

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Uber, Jump Bike</span></p></div><p></p></div></div></strong></p><ul class="summary-list"><li><strong><a href="https://www.businessinsider.com/category/uber">Uber</a> and <a href="https://www.businessinsider.com/category/lyft">Lyft</a> are doing more than just app-based taxi rides. </strong></li><li><strong>Both companies are investing in self-driving cars and healthcare. </strong></li><li><strong>Uber, meanwhile, is rapidly growing its Uber Eats and Uber Freight businesses. </strong></li><li><strong>We went through each company's IPO documents to compile the definitive list of the other bets each ride-hailing company is taking.</strong></li></ul><p>Uber and Lyft have become synonymous with ride-hailing, but taxi rides are far from the companies' only business bets.</p><p>Between the two, the companies are heavily invested in self-driving cars, food delivery, healthcare, bikes, scooters and more.</p><p>Hot on the heels of each company's attention-grabbing initial public offerings earlier this year, we dove into each company's freshly disclosed prospectuses to analyze just what other bets they were diving into - and how big those bets are.</p><p>Here's everything Uber and Lyft are doing that <em>isn't</em> ride-hailing:</p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=uber&amp;itm_campaign=40-big-tech-predictions-for-2019"></a></p>

From food delivery to self-driving cars, here's how all of Uber and Lyft's side-businesses compare

<br /> <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> and <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, the two leading cab service providers in the country, have been in a constant battle because of their intense competition in the once fast-growing industry, and now, they have decided to further heat up the competition by launching specific services that target the value-conscious customers.<br />
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Uber will be further investing in low-cost riding options like carpooling, bike taxis and auto rickshaw services so that he can appeal to a larger section of the society. "We want to make transportation available for everyone and cabs may not always be the most affordable option for all segments," said Amit Jain, VP, Uber India, about its decision to launch bikes and ricks for its customers.<br />
<br /> In reply of this, Ola has come up with cheapest taxi-hailing service, called <keyword id="3291107" type="UNKNOWN" weightage="100" keywordseo="Ola-Micro">Ola Micro</keyword>, which provides smaller hatchbacks at minimum prices. "(It) will be the most pocket friendly mode of intra-city cab travel," said Pranay Jivrajka, Chief Operating Officer at Ola.<br />
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One area where these companies are constantly facing regulatory pressure is surge pricing, their commonly used tool where cost of a cab ride increases during peak hours. It was only last week that the Karnataka state government declared that surge pricing for app-based ride-hailing services would not be allowed.<br />
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This has happened because surge pricing makes the fare and other charges higher than the fare fixed by the government, which is against the rules.<br />
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The competition has intensified also because of the demand for taxis going down, forcing the taxi app companies to increase the customer base for other products. "In order to tap customers who use public transport, there is a need to give economical and faster option for shorter distances," Jaspal Singh, founder of transportation consulting firm Valoriser Consultants, told ET. <br />

Demand for taxis go down, forcing Uber and Ola to launch innovative services to remain relevant

Keeping in mind the vast online commuter market, India’s top cab aggregator, <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is now prepping-up to introduce <keyword id="3071546" type="UNKNOWN" weightage="20" keywordseo="motorcycle-taxis">motorcycle taxis</keyword>.<br />
<br /> The Bangalore-based cab aggregator also plans to launch a shuttle bus service. Not just this, but Ola users will now be able to avail <keyword id="3072073" type="UNKNOWN" weightage="20" keywordseo="car-pooling">car-pooling</keyword> feature on its mobile application, reported The Economic Times.<br />
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The motorcycle taxis and shuttle service, however, might face regulatory issues as these do not have any legal frameworks so far.<br />
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Internal sources, requesting anonymity, informed that the bike taxis will be on the lines of Indonesia's GoJek, Blue-Jek and Grabbike, which is being used to transport people as well as goods.<br />
<br /> Another major add-on to the mobile application, <keyword id="3071503" type="UNKNOWN" weightage="20" keywordseo="OlaShare">OlaShare</keyword>, is being worked-on for quite some time now. The company, however, declined to respond on the email queries by the business daily.<br />
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The firm is also in the <a href="http://www.businessinsider.in/Ola-Cabs-new-round-of-fund-raising-to-value-it-above-5-billion/articleshow/49072304.cms">advanced stage of closing a financing round</a> of about $500 million (Rs 3,000 crore), which will give a muscle to the firm for its forthcoming plans.<br />
<br /> The new services, if compared to the other cab-service providers, might give a tough fight to San Francisco-based <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>, which is targeting to enhance its business outside the US with India being one of the most potential markets.<br />
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<a href="http://www.businessinsider.in/Uber-hopes-to-make-India-its-second-largest-market-sees-Ola-as-competition/articleshow/49087294.cms">(​Uber hopes to make India its second-largest market, sees Ola as competition)</a><br />
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Uber, however, introduced UberPool, its car-pooling service in India, starting with Bengaluru.<br />
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Kartik Hosanagar, a professor of technology and digital business at The Wharton School termed the bike-taxi move an interesting one and said, "As of now, it should be seen as an experiment. But one with tremendous potential for Ola... However, the company would have to navigate around regulations."<br />
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HeyTaxi, a Mumbai-based motorcycle-taxi company which was launched in June, came under fire from the city's transport department, which has termed the service illegal.<br />
<br /> A top official at <keyword id="151058" type="ORGANIZATION" weightage="20" keywordseo="Delhi-Transport-Department">Delhi Transport Department</keyword> said the state was framing a scheme for a motorcycle-taxi service but there were issues to consider. "As of now it will be deemed illegal. We were planning to launch such a service in Delhi but have put it on hold due to safety concerns," he said. Instead, Delhi launched a scheme for renting self-driven motorbikes in August.<br />
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Car-pooling services, too, are in a regulator grey zone. Several state governments encourage personal carpooling as a way to lessen traffic and pollution, but as a business, the service is not covered under any legal framework.<br />
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Safety is another area of concern, as riders would have to car-pool with strangers. Meru Cabs verifies co-riders with their PAN or Aadhaar numbers while BlaBlaCar mandates a social network account such as Facebook for logging in.<br />
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Experts, on the other hand, agreed upon the fact that car-pooling as a business has huge potential.<br />
<em>Image: thinkstock </em><br />

Ola is going for the kill! Uber already sees it as competition

<p class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Lucas Jackson/Reuters</span></p></div><p></p></div></div>Taxi drivers <a href="http://www.businessinsider.com/r-taxi-protests-over-uberpop-block-paris-airports-2015-6">aren't happy</a> with the impact Uber and other ride-sharing services are having on their business.</p><p class="p1">Now they've got the proof they need to plead their case to the city council, the same governing body that was a single vote away from drastically reducing the number of for-hire vehicles allowed on New York city streets.</p><p class="p1">Newly-available data from the Taxi and Limousine Commission, analyzed by the <a href="http://www.nydailynews.com/new-york/taxi-pickups-plummet-77-million-2015-analysis-article-1.2327367">New York Daily News</a>, show total trips in the the first half of 2015 were down 10% compared to same period last year: </p><p style="padding-left: 30px;">"Pickups for the iconic taxis that long ruled Manhattan streets plummeted 10% to 77 million in the first six months of 2015 - down from 85.5 million the year before, a Daily News analysis of trip data showed."</p><p class="p1">The data also show declining revenues from yellow cab fares:</p><p style="padding-left: 30px;">"The taxis collected $981 million through June of this year, a 7% drop compared with the $1.06 billion raked in over the same period last year.</p><p style="padding-left: 30px;">In real numbers, each cab brought in 9% less on average due to an increased number of taxi medallions and stiffer competition."</p><p class="p1">Last month, a bill that would cap the number of for-hire vehicles given permits was defeated after vocal protests by Uber drivers and supporters. Instead, the city announced a plan to study the effects of for-hire vehicles such as Uber on congestion in Manhattan.<br /><br />Uber told Daily News reporters Nolan Hicks and Dan Rivoli that its fastest growing areas are outside of Manhattan, areas that are underserved by yellow cabs. </p><p class="p1">The Taxi and Limousine Commission (TLC) claims there are many more factors at play than just ride-sharing services, like CitiBike, the bikeshare program that this summer expanded to more than <a href="http://citibikeblog.tumblr.com/post/101182979267/expansion-woo-hoo">double its footprint</a>.</p><p class="p1">"<span>While apps get the spotlight, there are so many things going on," TLC spokesperson Allan Fromberg told Business Insider. </span></p><p class="p1"><span>"If you look at how the taxi industries of cities with fewer change agents, like San Francisco, have weathered the changing landscape, a very strong argument can be made that the NYC market is actually quite resilient!"</span></p><p class="p1">Stiff competition has also caused the relative value of taxi medallions to plummet. In 2013, a taxi medallion was worth an estimated $1.3 million. Today, <a href="http://nycitycab.com/Business/TaxiMedallionList.aspx">online listings</a> hover between $600,000 and $900,000.</p><p class="p1">Medallion owners are in a frenzy to protect their assets. The largest single-owner of medallions, Gene Friedman of Taxi Club Limited, recently filed for bankruptcy, <a href="http://observer.com/2015/05/largest-medallion-owner-gene-freidman-appears-in-court-to-press-for-relief/">telling the Observer</a> that the city was unwilling to work with him as the value of his medallions plummeted.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/uber-versus-taxi-california-2015-6">Is Uber really cheaper than a taxi?</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Zmc3Z1cDoefsaxh4d9RwdpJj_TkDZlTs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Uber is making New York City cab drivers miserable

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Matt Winkelmeyer/Getty Images</span></p><p class="caption">Uber CEO Dara Khosrowshahi speaks onstage at Day 1 of the Vanity Fair New Establishment Summit 2018 at The Wallis Annenberg Center for the Performing Arts in Beverly Hills, California.</p></div><p></p></div></div></strong></p><ul class="summary-list"><li><strong><a href="https://www.businessinsider.com/category/uber">Uber</a> filed documents for its long-awaited initial public offering, or IPO, on Thursday. </strong></li><li><strong>The ride-hailing company could net a valuation of more than $100 billion as it hits the stock market. </strong></li><li><strong><a href="https://www.businessinsider.com/category/lyft">Lyft</a>, the company's biggest competitor, went public in March, and its stock has dropped more than 20% in since. </strong></li></ul><p>Uber has officially filed for an initial public offering, according to <a href="https://www.sec.gov/Archives/edgar/data/1543151/000119312519103850/d647752ds1.htm">regulatory documents filed on Thursday. </a></p><p>The company's long-awaited prospectus, which was <a href="https://www.businessinsider.com/uber-confidentially-files-paperwork-ipo-report-2018-12">filed confidentially in December,</a> was made public for the first time on Thursday, providing the first public look into Uber's investor pitch and plans to future growth in ride-hailing, <a href="https://www.businessinsider.com/uber-eats-executive-interview-why-suburbs-are-key-to-food-delivery-2019-3">food delivery</a>, <a href="https://www.businessinsider.com/sources-describe-questionable-decisions-and-dysfunction-inside-ubers-self-driving-unit-before-one-of-its-cars-killed-a-pedestrian-2018-10">self-driving cars</a>, flying taxis, and more. </p><p>Uber will list on the New York Stock Exchange under the ticker symbol UBER, according to its prospectus. Morgan Stanley, Goldman Sachs, Bank of America Merrill Lynch, Barclays, Citigroup, Allen &amp; Company, among others are underwriting the offering.</p><p>Uber did not disclose in the filing the price at which it plans to list, though the company's public valuation could easily top that of earlier venture capital rounds, especially given that Lyft's offering last week was over-subscribed. </p><p>Before the stock prices or begins trading, Uber's executives and bankers will head out on an investor roadshow to drum up demand across the country.<a href="https://www.bloomberg.com/news/articles/2019-04-10/uber-s-potential-investors-to-soon-see-its-books-as-ipo-nears"> Bloomberg reported Tuesday</a> that the roadshow is likely to kick off this month, with shares hitting markets in May. </p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/inside-lyft-ipo-roadshow-stop-in-nyc-2019-3"><span style="color: #000000;">Inside the Lyft roadshow in NYC where investors packed the penthouse of a $1,000-a-night hotel</span></a></em></p><h2>One of the biggest IPO's in years </h2><p>As a private company, Uber has raised nearly $20 billion in venture capital across more than a dozen funding rounds that have<a href="https://www.businessinsider.com/uber-could-be-valued-at-120-billion-in-ipo-2018-10"> left the company valued at a reported $120 billion.</a> If the valuation holds, Uber would find itself ranked somewhere between railroad operator Union Pacific and fellow tech giant Salesforce in terms of the world's most valuable public companies. </p><p>That massive amount of capital raise over the past decade has helped Uber to cover most of the world's cities in more than 60 countries, compared to Lyft's much narrower focus on the US and Canada. </p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/lyft-uber-compared-ahead-of-ipos-2019-3">Uber and Lyft are both going public - here's how their balance sheets compare </a></em></p><p>Those funding rounds have also helped subsidize a massively unprofitable ride-hailing business while also investing in other ventures in notoriously expensive self-driving car research. Unlike Lyft, Uber has been self-reporting some quarterly financial information, so the numbers disclosed aren't completely new, but they are our first look at audited financial statements. </p><h2>Uber for Everything</h2><p>While Uber is best known for hailing a car ride with the tap of a button, the company has plenty of other bets. In Pittsburgh (as well as Toronto and its San Francisco headquarters), for example, the <a href="https://www.businessinsider.com/uber-atgs-chief-scientist-how-self-driving-cars-will-change-cities-2019-4">company's advanced technologies group (ATG) is developing self-driving car tech</a> to power an eventual autonomous taxi fleet. </p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/sources-describe-questionable-decisions-and-dysfunction-inside-ubers-self-driving-unit-before-one-of-its-cars-killed-a-pedestrian-2018-10"><span style="color: #000000;">Uber insiders describe infighting and questionable decisions before its self-driving car killed a pedestrian</span></a></em></p><p><a href="https://www.businessinsider.com/uber-eats-executive-interview-why-suburbs-are-key-to-food-delivery-2019-3">Uber Eats, meanwhile, is one of the fastest growing segments of Uber's business.</a> In many areas, the food delivery startup is growing even faster than Uber's rode-hailing business. Executives have told Business Insider that Eats is the first of many soon-to-come examples of other services piggybacking on the Uber platform. </p><p>Groceries could soon be the next entrant to that delivery offering, and the company is rapidly scaling up a team to deliver pantry items in its <a href="https://www.businessinsider.com/uber-hiring-grocery-product-toronto-2018-11">Toronto office, Business Insider reported last year. </a></p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/uber-eats-executive-interview-why-suburbs-are-key-to-food-delivery-2019-3"><span style="color: #000000;">An Uber Eats executive reveals the company's surprising strategy for moving beyond taxi rides</span></a></em></p><p>In 2018,<a href="https://www.businessinsider.com/uber-buys-jump-bikes-2018-4"> Uber purchased a bike-share company called Jump bikes</a>. Like Lyft's purchase of the bikeshare operator Motivate, Jump is Uber's pawn in the bike-and-scooter wars that have overtaken many of the world's cities in recent years. Rachel Holt, Uber's head of new mobility, <a href="https://www.businessinsider.com/uber-bikes-scooters-ignition-rachel-holt-interview-2018-12">said at Business Insider's IGNITION conference in 2018</a> that users could expect to see a "pretty massive" expansion of the bikes and scooters into more cities this year. </p><h2>Lyft's stutter</h2><p>Lyft, Uber's biggest competitor, went public first in March. However, <a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-down-after-reports-of-ubers-expected-valuation-2019-4-1028101045?utm_campaign=browser_notification&amp;utm_source=desktop">the stock's more than 20% decline over its first two trading weeks</a> is expected to cast a shadow on Uber's offering.</p><p>"<span>Lyft shares continue to be weak as many investors we have spoken with have worries about Uber's impending S-1 and roadshow which could be a dark shadow over Lyft's stock in the near-term," Daniel Ives, an analyst at Wedbush, said in a note to clients Thursday. </span><span></span></p><p><span>"With Uber, investors will soon have a second option to make a bet on the future of mobility and <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">transportation</keyword> with the clear market share leader," Ives continued. </span></p><p><em>This story is developing...</em></p><h2>More about Uber's IPO: </h2><section><ul><li><a href="https://www.businessinsider.com/uber-original-pitch-deck-shows-evolution-ipo-2018-12">Uber's original pitch deck from a decade ago shows just how much the ride-hailing giant has changed</a></li><li><a href="https://www.businessinsider.com/lyft-uber-compared-ahead-of-ipos-2019-3" data-analytics-position="13">Here's how Uber and Lyft's financials compare as the two companies go public </a></li><li><a href="https://www.businessinsider.com/uber-ceo-email-to-employees-about-careem-acquisition-full-text-2019-3" data-analytics-position="8">Read the email Uber's CEO sent employees about the company's $3.1 billion acquisition of a major competitor</a></li></ul></section><section><div data-e2e-name="byline"><div data-e2e-name="byline-content"><div></div></div></div></section>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/amtrak-why-so-expensive-america-train-system-2019-3">Amtrak has lost money every year since 1971. Here's why train tickets are so expensive.</a></h3>        <div>                    </div>    </div>

Uber has filed to go public in what could be the biggest IPO in years

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Shayanne Gal/Business Insider</span></p><p class="caption">Rachel Holt (left) and Ryan Rzepecki.</p></div><p></p></div></div></p><p>Seeing a future beyond cars, Uber CEO Dara Khosrowshahi recently said he wanted Uber to be "<a href="https://www.businessinsider.com/uber-ceo-dara-khosrowshahi-talks-global-expansion-changing-behavior-and-flying-taxis-2018-6" target="_blank" rel="noopener">the Amazon of mobility</a>."</p><p>To that end, Khosrowshahi tapped <strong>Rachel Holt</strong> to oversee Uber's new modalities unit, which includes the company's initiatives around hourly car rentals, bikes, scooters, public-transportation integration, and more.</p><p>This summer, Uber invested in the e-scooter company Lime, joining a $335 million funding round led by Google Ventures and committing to make scooters available through its app.</p><p>Now that Lime and its top competitor, Bird, have each raised nearly half a billion dollars, the scooter wars are heating up and a long list of scooter upstarts are vying for supremacy in key markets worldwide.</p><p>As Uber begins to shift from a car-centric strategy to helping consumers travel that last mile in the most reliable, affordable, and convenient way possible - while simultaneously putting a dent in the traffic gridlock that plagues cities like New York, San Francisco, and Los Angeles - Holt is working closely with <strong>Ryan Rzepecki,</strong> the founder of Jump Bikes, which Uber acquired in April for a reported $200 million.</p><p>Rzepecki founded Jump in 2008 while working at the New York City Department of Transportation. He struggled for nearly a decade to get funding until dockless bike sharing exploded in China in 2016 and investors took note.</p><p>"In the span of two or three months, suddenly everyone was interested," Rzepecki said. "It was very validating that something I cared about was proven right."</p><p>So whether we're talking about on-demand scooters and bikes, flying taxis or self-driving cars, we're charting the future of transportation at IGNITION 2018.</p><h2><a href="https://events.businessinsider.com/IGNITION2018" target="_blank" rel="noopener">REGISTER now</a>.</h2><p>To keep up with IGNITION news, join our <a href="https://docs.google.com/forms/d/1afzfRLBk5IAj9hIUSGtrhHm6E85A-7Q-dFaWO3HUx70/edit" target="_blank" rel="noopener">mailing list</a>, and you'll be the first to get updates on our speakers and agenda.</p><p class="tagline"><a href="http://www.businessinsider.com/intelligence/the-self-driving-car-race?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=transportation_ctgr_leadgen&amp;utm_campaign=transportation_ctgr_leadgen_self-driving-car-race"></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/places-on-google-maps-you-cant-see-2016-11">7 places you can't find on Google Maps</a></h3>        <div>                    </div>    </div>

IGNITION 2018: Hear from execs at Uber and Jump Bikes as they chart the future of transportation

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Just before Delhi’s <a href="http://www.businessinsider.in/searchresult.cms?query=odd-even+policy&amp;sortorder=effectivedate" data-type="tilCustomLink">odd-even policy</a> stages a comeback, the nation’s capital has got its first ever eco-friendly electric two-wheeler taxi service.<br />
<br /> Looking to solve the problem of last mile connectivity, <keyword id="3309408" type="UNKNOWN" weightage="80" keywordseo="Promto">Promto</keyword> has started its service last week and is doing close to 200 rides every day. That’s not too much given the volume of traffic in the city, but it’s a good start nonetheless.<br />
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The Delhi based company was started by Nikhil Malik, Karan Chadha, Pawneesh Rampal and Romesh Kumar who came up with the idea of having a battery operated two-wheeler taxi service network. The battery operated bikes are equipped with in-built <a href="http://www.businessinsider.in/searchresult.cms?query=GPS+systems&amp;sortorder=effectivedate">GPS systems</a>.<br />
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The company currently has 20 such scooters, and the service is available from <a href="http://www.businessinsider.in/searchresult.cms?query=Connaught+Place&amp;sortorder=effectivedate">Connaught Place</a> (<keyword id="6356415" type="COMPANY" weightage="20" keywordseo="Metro">Metro</keyword> station gate no. 7) to offer rides within a radius of 5 kms. While reach is an issue currently, affordability isn’t, as the two wheeler service is available for a mere Rs 5/kms.<br />
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The taxi can be booked by calling on 82528-82528 or by hailing one from <a href="http://www.businessinsider.in/searchresult.cms?query=Connaught+Place&amp;sortorder=effectivedate">Connaught Place</a> metro station, gate number 7.<br />
<br />
Nikhil Malik, Promoter of Promto said, “Promto will help single office goers, students and general commuters experience the advantages of switching over to zero polluting electric mobility and reach last mile destinations from a public point such as metro stations or a busy bus terminal.”<br />
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“Our battery operated bikes will be a visible alternative to immediately cut the emission as one electric bike is equivalent to reducing 1 ton of carbon dioxide emission in 3 years,” added Nikhil.<br />
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Much like the Olas and Ubers of the transportation industry, Promto has a comprehensive insurance policy worth up to Rs 1 lakh for the drivers as well as the passenger for the duration of the bike ride. The company also claims all drivers go through stringent background verification and training before they’re put on the road.<br />
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The company looks to expand its fleet to 500 battery-operated bikes in the next 6 months and over 10,000 electric bikes in the coming 3 years.<br />
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Image credit: Indiatimes<br />

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