The ride-hailing giant has announced that it has bought out the software company Google and the social media company Microsoft for $7.4 billion.
The deal, which will help Uber expand its business beyond its core ride-sharing business, is part of the company’s ongoing effort to make itself more relevant and relevant to more people, CEO Travis Kalanick said.
Uber also said it would be buying out a portion of Yahoo for $3.5 billion.
“This deal will help accelerate our growth and bring more jobs to America,” Kalanicks said.
“We will invest more in America, not less.
Kalanik said the deal, along with the other $4.5-billion deal, is expected to close by the end of the year. “
Together, we will become a more equal and inclusive society, and we are going to have more people riding and working for us.”
Kalanik said the deal, along with the other $4.5-billion deal, is expected to close by the end of the year.
The other big winners are Alibaba, Facebook, Amazon, Microsoft, Yahoo, Google and Yahoo Japan.
The announcement comes on the heels of a slew of acquisitions in recent months that include the launch of an online video-sharing platform, Google Cardboard, and a $1.7-billion investment in the video-streaming startup Vine.
Uber’s stock has been in free fall since the end 2016.
The company was up around 5% in 2018 and the past few years have been a wild ride for the ride-service.
However, the stock has gained more than 5% this year and it’s up about 35% year-to-date.
Uber has seen its market value plummet as it struggles to attract customers to its ride-booking app.
Kalaniski said Uber is taking a “hard-nosed” approach to the competition.
“You can’t take your product and sell it like you’re selling beer,” he said.
Kalonik said Uber will continue to try to create a “truly global” company, focusing on expanding to more countries.
“It’s very difficult for us to do that in our home market of the U.S.,” he said, adding that the company will work hard to bring the company to more markets, but not be limited to a particular region.
Uber is looking to hire more people and boost its revenue.
Uber will now have nearly a half-billion employees, and the company expects it to be profitable by the year 2026.