Uber Technologies, which increased its U.S. gross revenue about 200 percent this year, plans to raise as much as $2.1 billion in its latest financing round that would value the company at $62.5 billion. The funding would enable Uber to pursue its goals of branching into new services such as food and package delivery, explore new technology such as autonomous cars, and grow globally, particularly in China. Meanwhile, Lyft and other international Uber rivals have formed an alliance to inter-connect their services. Continue reading Uber Approaches $62.5 Billion Valuation, Rivals Form Alliance

People in need of a ride may eventually get around by Google driverless car, instead of Uber, Lyft, or other recently launched ride-hailing services. Google has reportedly told Uber’s board of the plan to develop a ride-sharing app and launch its own taxi service. This could be devastating for Uber’s business if Google limits the company’s access to Google Maps. If Google can also implement driverless cars, the company might be able to lower prices to the point that Uber cannot compete. Continue reading Google is Building a Ride-Sharing App to Compete with Uber

E-commerce giant Alibaba is taking another significant step beyond its core business by investing $50 million in Mountain View-based startup Peel, which makes apps that allow consumers to use their smartphones and tablets to control their TVs. The Android version works with TVs, cable boxes and streaming video boxes, while the iOS version can replace the remote for Dish and DirecTV boxes. Peel’s Android version also comes preloaded on some HTC and Samsung mobile devices. Continue reading Chinese Tech Firm Makes Major Investment in TV Remote App