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Published on : Jul 12, 2017

On Tuesday, Uber Technologies Inc. tried to ease the concerns of investors as a series of scandals have been affecting its business negatively. The company has assured investors that it will now offer improved bookings and reduce the losses incurred. In addition to this, Uber also said that it would resolve the legal hurdle with Alphabet Inc. and settle the issue. The lawsuit over self-driving cars from Alphabet’s Waymo is estimated to be settled before the scheduled date in the court at October. Meanwhile Uber announced that the gross bookings have increased by 10 percent since last quarter and this is making up for the losses incurred so far.

While the full financial results was not released by Uber as it said it was no ready yet and shall come in the coming weeks, this was the first presentation to the stakeholders of the company post the resignation of the CEO Travis Kalanick. The resignation of the CEO was forced by many of the major investors of Uber last month.

Increasing Booking Fee to Help Pay for Insurance

Uber is doing all it can to squeeze out more revenue from customers and make up for its expansive losses. Just last week booking rates was quietly increased in Canada and the U.S. This booking fee has been increased with a view to help Uber pay for its insurance and other expenses and is not shared with the drivers. Depending on the city, the increase in fee is between 15 to 50 cents.