Skip to main content

Uber Seeks Chinese Tariff Exclusion For Electric Bikes

Uber has asked the U.S government for an exemption from new tariffs on Chinese imports for electric bikes the company is producing in the country. With ambitious plans for its bike and scooter business, Bloomberg says it now churns out nearly 1,000 bikes a day with over $1 billion set for spend on scooters, electric bikes and other transportation alternatives according to Vice President Rachel Holt in a recent interview.

The request filed by Uber was posted this Monday by the Office of the U.S. Trade Representative. A current 25% tariff is in place for $16 billion worth of Chinese imports including scooters and electric bikes, this incurs more costs for companies like Uber, Lime, Bird and several more who manufacture their scooters and electric bikes in the country.



Uber just recently, unveiled a new Jump Bike with a handful of updates including swappable batteries, a front dashboard, a phone mount and cable lock. These bikes will begin rolling out in existing cities where the Jump b…

ServiceTitan secures $165 million Series D round at $1.65 billion valuation

image : ServiceTitan

ServiceTitan, a Los Angeles based home service business software provider has raised $165 million in a round led by Index Ventures with participation from new investors T. Rowe Price and Dragoneer and existing investors Bessemer Venture Partners, ICONIQ Capital and Battery Ventures. This round values the company at $1.65 billion post-money marking a new entry into the unicorn club.

Founded in 2008, ServiceTitan has grown from 25 employees in 2014 and a $100 million valuation in 2015 to now this and says it's on track to double subscription revenue this year which would mark its fifth year of consistently doing so.

A ServiceTitan product being used on an iPad

image : ServiceTitan

It's current 2,500+ customers represent nearly 50,000 technicians on the road who execute roughly $10 billion worth of annual transactions across various home services verticals. ServiceTitan says these numbers are on pace to double the next year and also states of it's customers having serviced nearly 20% of homes across the US and Canada since the 2013 launch of its platform.

It'll use this additional capital to serve even more home service businesses and also deliver greater value to its customers through additional products as per its statement.

“The ServiceTitan mission has always been personal to us,” ServiceTitan CEO Ara Mahdessian said. ”Our software powers the tireless men and women of home services who ensure the world has the basic necessities of life: running water, relief from the scorching heat and biting cold, power and electricity, and more. We take it for granted today, until our toilets back up, our air conditioning goes out during the heat of summer, or our lights go out in the middle of the night. These are the heroes that come to our rescue, and we’re here to help them be more efficient and successful.”

The U.S. Home Services Industry is estimated to be worth $400 billion by American home services directory Angie's List, Others put it at $800 billion. 

“ServiceTitan is the operating system for home services,” The company's co-founder and President Vahe Kuzoyan also added. “Our software helps our customers with nearly every workflow in their business, including CRM, scheduling, dispatch, mobile invoicing, payments, inventory, and more. We’re now integrating with large partners to enable the future of home services, including real-time appointment booking integrations with partners like Yelp and others, as well as supply-chain integration with partners like Lennox and others.”

In recent times, ServiceTitan has added a roster of executives to its team to build out its future in the home services industry. Executives have come from the likes of Adobe, Google, Accel and Netflix while the company also hires top talent particularly across Product and Engineering amid a current team of 600 employees.


Comments

Most Read Posts

Revolut Obtains European Banking License via Bank of Lithuania

London based Revolut has obtained a banking license via the Bank of Lithuania, the European country's central bank which has granted regulatory approval for it to operate throughout the European union. This marks Revolut as the first London-based fintech to receive a banking license and puts it on par with the likes of Adyen, Klarna and N26 who have obtained banking licenses in other European nations.
Revolut plans to launch checking and savings accounts and also go into business and retail lending, expanding from just a no-fee pre-paid debit card provider to an all-round financial technology provider offering broader services including budgeting, currency exchanges and crypto wallets for its users.

A banking license is required for expansion into broader services for Revolut, a $1.7 billion valued leading fintech startup with more than 3 million customers and 250 million transactions totaling more than 25 billion pounds made on its platform. 
"Our vision is that retail and bu…

The Rise of Sebastian Thrun, From Google To Udacity to Kitty Hawk

At the (2005) DARPA Grand Challenge, the renowned racing event for American autonomous vehicles, Stanford professor Sebastian Thrun led the development of its self-driving vehicle Stanley which took home the prize and has been placed on exhibit in the Smithsonian Institution's National Museum of American History.

Thrun also led the development of Junior which emerged second at the 2007 DARPA Grand Challenge, Think that's enough? He also led the development of the Google self-driving car. It's obvious, Thrun is an expert in this field. He was elected into the National Academy of Engineering and also into the Academy of Sciences Leopoldina in 2007. Fast Company selected him as the fifth most creative person in the business world. Thrun has many achievements to his name.







He kicked off his career at the Carnegie Mellon University computer science department where he joined as a research computer scientist in 1995. Three years later, he became assistant professor and co-direct…

Daimler Is Bringing These 3 Vehicles To CES 2019

At the Consumer Electronics Show (CES) holding from 8 to 11 January 2019, Daimler says it'll focus fully on the "outlook of the future of mobility". For this, It'll be unveiling the new Mercedes-Benz CLA for the first time at the event, the electric Mercedes-Benz EQC SUV for the first time in the U.S. and the Vision URBANETIC concept also for the first time in the U.S.

According to Daimler, The new Mercedes-Benz CLA will feature an evolved MBUX (Mercedes-Benz User Experience) infotainment system, a product that premiered at this year's CES event with new features added just 12 months later. Daimler dubs it as the "most emotional vehicle of its class" and a "a highly intelligent automotive specimen".



Features offered in the CLA include the MBUX Interior Assistant which identifies operation requests on the basis of interior movements, augmented reality for navigation and the ability to grasp indirect voice commands.

At the same time frame, The …

General Electric Sells Majority Stake in ServiceMax to Silver Lake

General Electric has announced it's offloading a majority stake in ServiceMax, the cloud-based software provider it scooped up for $915 million to private equity firm Silver Lake. GE will retain a 10% stake in ServiceMax after the deal closes.
General Electric's software arm, GE Digital has also entered into a reseller agreement with ServiceMax that'll ensure ongoing collaboration between both after this sale to serve joint customers including General Electric’s industrial business unit.

According to GE, ServiceMax in its two years after acquisition has delivered growth that has outpaced the market and will as a separate company possess the strategic focus required to dig deep into the $34 billion global Field Service Management software market opportunity.
It's estimated that majority of the 39 million field technicians globally responsible for installation, maintenance  and repair of machines do not have access to Field Service Management software like ServiceMax wh…

The SIPC Sees Red Flags In Robinhood's Plan to Offer Checking & Savings Accounts

Just after the unveiling of a checking & savings accounts service stock-trading app Robinhood plans for its users, The Securities Investor Protection Corporation has voiced concerns that deposited funds may not be eligible for insurance even as Robinhood says they will be insured by the SIPC.

“I disagree with the statement that these funds are protected by SIPC,” SIPC president and chief executive Stephen Harbeck said in an interview. “Had they called us, I would have told them what I just told you in that I have serious concerns about this. This has gigantic ramifications for the banking industry.”


“I spoke to my colleagues at the trading and markets division at the SEC, and I’m sure they’ll be consulting with the firm today,” Harbeck said. “I believe that, as stated by the firm, there’s some significant legal problems that they have.”

Robinhood's website says that deposits up to $250,000 in cash for each account are protected by the SIPC should anything go wrong. But Harbec…

Facebook and Zenimax Settle Oculus VR Legal Battle

Video game company Zenimax has settled its legal battle with Oculus parent Facebook putting an end to a 4 year clash between both companies over allegations of Oculus using "trade secrets, copyrighted computer code, and technical know-how relating to virtual reality technology" provided by Oculus CTO John Carmack who previously was at Zenimax after its acquisition of id Software, the video game developer he co-founded.
After the $3 billion Oculus acquisition, Zenimax took Facebook to the courts over alleged use of its intellectual property in development of key parts of Oculus technology, It claimed that Carmack helped hire several former ZeniMax/id Software employees who possessed technical knowledge of its VR technology that allowed them to rapidly fine-tune the VR testbed system used in creating the Oculus Rift.


Zenimax said in its filing that it "invested tens of millions of dollars in research and development" into virtual reality technology and claimed "…

Postmates Unveils New Delivery Robot, 'Serve'

Postmates has unveiled a robotic delivery device built from the ground up to deliver small items over short distances effectively. The new autonomous robot, Serve pairs a patented "Socially-Aware-Navigation system" with proprietary Postmates software to join the Postmates fleet of over 350,000 couriers in delivering items to its users.

It runs on electricity and moves at walking speed, enabling it to route deliveries away from crowded streets and onto sidewalks. "7 years and hundreds of millions of deliveries later — we realized that we are in unique position to create our very own autonomous delivery vehicle" A post from Postmates read..."By developing an in-house, design-first approach, Serve was built to respect cities, meets customer demands, and helps local businesses sell even more."

The new robot contain advanced set of sensors including Velodyne Lidar and makes use of an NVIDIA XAVIER processor for interaction with the environment. Customers can i…

Starbucks is Launching a First-Of-Its-Kind Virtual Store in China

Starbucks is launching what it dubs a "first-of-its-kind" virtual store in partnership with Alibaba which it says "unlocks new levels of engagement unseen in the marketplace today with customers". The new store will provide a one-stop digital experience cross the Starbucks app and mobile apps within the Alibaba ecosystem, including Tmall, Taobao and Alipay.
Alibaba has developed an online management hub specially for Starbucks for this that integrates its digital services including the delivery partnership between both powered by its Ele.me delivery arm, social gifting and the Starbucks' Tmall flagship store into a single interface for Starbucks customers and the over 600 million mobile monthly active users on Alibaba’s China retail marketplaces.

Customers making use of the social gifting feature will be able to add physical gifts from the Starbucks Tmall flagship store in addition to purchasing a digital beverage gift card for the first time ever. They can al…

NIO Sets Sight On Luxury Car Market in China Despite Lesser Sales

Chinese EV manufacturer NIO continues to eye the luxury vehicle market in China, stating it will continue to be a big one in the country despite lesser sales. “Unlike developed markets such as America where the number of new cars and end-of-life vehicles is almost balanced, China’s auto market growth is still incremental though it is reaching a watershed,” NIO CEO William Lie said to reporters in Shanghai this Sunday.

“Plus, electric vehicles sales grow fast in China and sales of luxury cars are unlikely to drop.” He said. NIO is facing high competition in the world's biggest auto market from the likes of Tesla, Nissan, BYD, ZhiDou, Shanghai Auto and Zotye.


Li said the company is carrying out preparatory research about entering international markets, which include legal compliance and the adoption of a business model to tailored for local customers. It's scaling production of the ES8 vehicle, its first commercial product of which Li has pledged to send 10,000 units into custo…

Blippar Goes Into Administration

Once high flying AR startup Blippar has announced it's going into administration (i.e. being taken under the management of a court appointed administrator – who must be a licensed insolvency practitioner (IP)) signalling troubles for the company now seeking a buyer for all or parts of the business.

As part of the administration process, all employees are being layed off with Blippar's services likely to cease once administrators take control of the business and its servers. According to a Blippar blog post, It raised a small amount of funding to further operations but required shareholders' approval to access it, one of which voted against this, effectively blocking the investment required to keep it afloat.


Blippar says it'll be learning more about the administration process over the coming days and will keep its stakeholders informed. Administrators have been appointed by a U.K. court for this process. "We are proud to be one of AR’s early pioneers, and we will…