After Uber, Ola to lay off 25% workforce, says revenue fell by 95% in two months
Wednesday, 20 May 2020 The COVID-19 necessitated lockdown has brought the economy to a standstill. With the further extension of the lockdown, businesses are being forced to shut down or trim operations.
The NY Times and Business Insider report that Uber is holding acquisition talks with food delivery startup Postmates. Earlier this year Uber was reported to be holding acquisition talks with Grubhub. But those talks reportedly fell through. In mid-June Grubhub announced it was merging with Just Eat. Postmates is smaller than Grubhub, and would be more amenable to a take-over.
Just Eat Takeaway, a food-delivery service based in Europe, bought Grubhub. According to Gizmodo, while sales have spiked, operation costs have also been high. The acquisition of Grubhub makes it the largest digital food delivery service operator outside of China. Stories analyzing the deal pointed out a European deal was less likely to get blocked by antitrust regulators. Before Just Eat Takeaway acquired Grubhub, Uber wanted to also buy the food-delivery service.
Travis Kalanick is the founder of Uber. He was recently kicked out of the company. Business Insider reports that Kalanick founded CloudKitchens, a delivery-only restaurant operation. Kalanick says the company is the victim of arson. On Twitter, the company said two fires were started. They posted video evidence of the intruders. The company is worth more than $7 billion. It's funded from Kalanick's Uber wealth as well as Saudi Arabia.
As all government and private schools remain closed since the COVID-19 lockdown, it's having a devastating effect on the poor children in parts of Bihar. With schools closed and mid-day meal supply allegedly stopped, the children of Kanti block area of Muzaffarpur district have now joined their parents in the fields and in grazing goats. A villager said, "We are not getting any mid-day meal services for our children." Child malnutrition is a severe issue in Bihar.
Seema Verma oversees the Medicare and Medicaid programs for the Trump administration. Verma is deciding how often patients will be able to use phone and video visits to see the doctor. She has said it's “crystal clear” that telehealth must continue, says Business Insider. Verma has the power to change certain regulations on doctor phone and video visits. She’s thinking through which types of medicine should be offering care virtually.