Drama

Uber’s financials show company is still growing, despite the drama

 Uber’s past six months have been tumultuous, with lawsuits and allegations of harassment. The company doesn’t even have a CEO right now, but newly released financials suggest that most users don’t care. First reported by Axios, Uber has confirmed to us that Uber’s $8.7 billion in gross bookings were up 17 percent in the second quarter. Global trips increased 150… Read More

Wal-Mart takes a cue from Amazon and applies for its own drone-deploying blimp patent

 Wal-Mart Stores Inc. is taking on Amazon in what appears to be a copycat move — by applying for a drone-deploying blimp patent. You may recall Amazon filed a patent for a flying warehouse that will send drones to your door about a year ago. Now Walmart wants in on Amazon’s idea. The patent application, first noted in Bloomberg, shows the Walmart blimp would float about 500 to… Read More

Uber investor Shervin Pishevar petitions Benchmark to step down from board and sell some of its stock

 Shortly after a group of Uber shareholders asked Benchmark to relinquish its spot on Uber’s board of directors, Sherpa Capital’s Shervin Pishevar is petitioning Benchmark via Change.org to remove itself from Uber’s board. The petition also asks Benchmark to sell at least 75 percent of its stock so that the firm no longer has rights to appoint members to Uber’s board… Read More

The CRISPR patent battle is back on as UC Berkeley files an appeal

 The University of California Berkeley has filed an appeal in a heated CRISPR patent interference case that earlier this year ruled in favor of the Broad Institute of MIT and Harvard. Read More

Every member of Hampton Creek’s board has stepped down except for the CEO

 Hampton Creek is in the news again — and not for the reasons it would like to be. Hampton Creek’s entire board of directors have left, except for CEO Josh Tetrick. Read More

Google responds to academic funding controversy — with a GIF

Last week, an advocacy group called Campaign for Accountability (CfA) released a list of academics and policy experts who had received funding from Google in the last few years. That created quite a stir, especially because many of the scholars on the list didn’t think they should have been included in this list in the first place — often because the funding they received from… Read More

SoundCloud sinks as leaks say layoffs buy little time

 A tense scene unfolded yesterday as user-generated music streaming service SoundCloud held an all-hands meeting to explain to employees why it suddenly had to lay off 40 percent of its staff last week. Exiting team members wanted to know why they weren’t warned, while those that survived the cuts wanted assurance that the cost reductions would keep the company afloat for the long-run. Read More

Vizio files $100M lawsuit against LeEco

 Last summer LeEco announced it intended to purchase the U.S.-based TV maker Vizio for $2 billion. The deal fell through in March amid myriad problems surrounding LeEco, including a major cash crunch. Allegedly the deal included a $100 million buyer-termination fee and now Vizio has filed suit in a California court to collect payment. Read More

The hunted becomes the hunter: How Cloudflare’s fight with a ‘patent troll’ could alter the game

 Matthew Prince knew what was coming. The CEO of Cloudflare, an internet security company and content delivery network in San Francisco, was behind his desk when the emails began. College classmates-turned-defense attorneys were reaching out to say hello and to ask: did Prince perhaps need help to fight a lawsuit they’d seen filed against Cloudflare? Read More

For Binary Capital’s investors, a public apology may fall short

 In May of last year, venture capitalist Justin Caldbeck of Binary Capital tweeted: “Big believers in ‘addition by subtraction’ for company culture. Bad apples impact others, and rest of team will thank you when they’re gone.” We may never know what company Caldbeck was referencing, but certainly, his messaging seems ironic in light of a detailed report about his… Read More

Woman raped by an Uber driver in India is now suing the company for privacy violations

 A woman raped by her Uber driver in India is suing both the company and three current and former top executives after it was revealed Eric Alexander, the company’s president of business in Asia Pacific, had accessed and was carrying around her medical records. The woman, a Texas resident identified as Jane Doe in the case, is suing for intrusion into private affairs, public disclosure… Read More

No acting CEO at Uber, no problem?

 Instead, Kalanick told employees, the company will be run by his direct reports. Meanwhile, owing to the results of a probe led by former U.S. attorney general Eric Holder — who was hired to look into allegations of harassment, bullying, and discrimination at the company — some of Kalanick’s responsibilities will be shared or given outright to other senior executives when he… Read More