Why Uber Shares Are Transferring Right now
Uber Technologies Inc (NYSE: UBER) Shares are trading 3.4% lower at $ 48 after the company announced it has reached an agreement with the minority shareholders of Cornershop Global LLC to sell its remaining 47% stake in the online – Grocery retailer to acquire Cornershop for 29 million Uber shares.
Uber is a technology provider that connects passengers with drivers, hungry people with restaurants and food delivery services, and shippers with carriers. The company’s on-demand technology platform could eventually be used for additional products and services like autonomous vehicles, drone delivery, and Uber Elevate, which the company calls aerial ridesharing.
Uber is headquartered in San Francisco and operates in over 63 countries with over 110 million users who order a ride or meal at least once a month. Around 76% of gross sales come from car pooling and 22% from food deliveries.
Photo courtesy of Uber.
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