Uber veteran Rachel Holt to leave

(Reuters) - Uber Technologies Inc's senior executive Rachel Holt, who oversees the ride-hailing company's bike and scooter operations as well as partnerships with public transit organizations, will step down to start her own venture.

Reuters January 15, 2020 02:06:25 IST
Uber veteran Rachel Holt to leave

Uber veteran Rachel Holt to leave

(Reuters) - Uber Technologies Inc's senior executive Rachel Holt, who oversees the ride-hailing company's bike and scooter operations as well as partnerships with public transit organizations, will step down to start her own venture.

"After 8.5 unforgettable years at @Uber and more than a half-dozen funding rounds, I've decided to put the shoe on the other foot...," Holt, Uber's head of New Mobility, tweeted https://twitter.com/RachelJHolt/status/1217121725772595200 on Tuesday.

Holt also tweeted she was working on co-founding a new venture capital firm in Washington D.C.

Her departure comes at a time when technology companies are revisiting their investments in shared transportation.

German car-makers BMW AG and Daimler AG in December said they will exit the North American car-sharing market, citing the "volatile state of the global mobility landscape."

Electric scooter company Lime, a San Francisco-based competitor of Uber's JUMP programme, last week said it was laying off 14% of its workforce and ceasing operations in 12 markets as it seeks to become profitable.

Fuelled by venture capital funding, while electric scooter companies have flooded U.S. streets with app-based scooter rentals over the past years, none has yet turned a profit.Uber in November reported $38 million in third-quarter revenue from a non-core ride-hailing segment it calls "Other Bets," the largest portion of which includes its dockless e-bikes and e-scooters.

(Reporting by Akanksha Rana in Bengaluru and Tina Bellon in New York; Editing by Shinjini Ganguli)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.