Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Google preparing to launch ride-hailing service - Bloomberg

Published 03/02/2015, 02:13
© Reuters. A Google search page is reflected in sunglasses in this photo illustration taken in Brussels
GOOGL
-

(Reuters) - Google Inc is preparing to offer its own ride-hailing service, putting it in direct competition with Uber, Bloomberg News reported, citing a person close to Uber's board.

Google is one of the biggest investors in Uber.

David Drummond, Google's chief legal officer and a member of Uber's board, has informed the app-based ride service of Google's plans, Bloomberg reported.

The source also said Uber's board was weighing whether to ask Drummond to resign, Bloomberg reported.

Neither Uber nor Google were available for comment.

Uber executives have been made privy to screenshots of Google's ride-sharing app, which is currently being used by Google's employees, Bloomberg reported.

Google's move may imperil Uber's reliance on the search giant, as the cab service's smartphone applications for drivers and riders are based on Google Maps.

Google recently said its driverless car technology was in development within its Google X research lab, but it is two to five years from being ready for widespread use, according to Bloomberg.

Uber also announced a tie-up with Carnegie Mellon University on Monday to create the Uber Advanced Technologies Center in Pittsburgh aimed at developing Uber's own self-driving vehicle technology.

The partnership seeks to provide "research and development, primarily in the areas of mapping and vehicle safety and autonomy technology," Uber said in its blog.

© Reuters. A Google search page is reflected in sunglasses in this photo illustration taken in Brussels

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.