Latest news with #Moove
Yahoo
08-07-2025
- Business
- Yahoo
BofA lifts Uber target on tax relief and other tailwinds
-- Bank of America raised its price target for Uber (NYSE:UBER) to $115 from $97 per share in a note Tuesday, citing multiple catalysts including driver tax savings, accelerating bookings, and growing autonomous vehicle (AV) momentum. 'Uber remains a top pick for 2025,' BofA analysts wrote, reiterating a Buy rating and noting their revised valuation is based on '24x 2026 FCF (vs. 20x prior) given FANG multiple expansion.' A key boost is said to come from the Big Beautiful Bill's No Tax on Tips provision, which includes 1099 gig workers. 'Federal income tax savings will be available even for those who don't itemize, with a max deduction of $25k,' BofA said. The firm estimates Uber drivers in the U.S. will earn about $42 billion this year, with $5.7 billion coming from tips. That translates to '~$1.0bn in tax savings for drivers, assuming an 18% avg. tax rate, for a 2.5% pay bump.' The bank also highlights Uber-backed Moove's move to raise $1.2 billion to finance autonomous vehicles in partnership with Waymo. 'Moove is one of Uber's most critical fleet management partners,' analysts noted. While details remain unclear, BofA said the development is 'consistent with our view that there will be multiple AV suppliers long-term.' In addition, the bank stated that 'data from Bloomberg Second Measure shows modestly accelerating bookings growth for Uber, up ~140pts vs. 1Q,' with both the Mobility and Delivery segments reportedly showing improvements. 'Optimism on Uber's AV position can grow,' the analysts wrote, citing over 20 global AV partnerships and signs of Level 4 technology scaling. They concluded: 'Strong bookings growth & Uber One traction suggest subscriber lock in.' Related articles BofA lifts Uber target on tax relief and other tailwinds SoFi mirrors Robinhood with push into private markets; stock gains Why Tesla's robotaxi stumble is a win for Lyft Sign in to access your portfolio
Yahoo
07-07-2025
- Business
- Yahoo
Uber Shares Climb to All-Time High Amid Expanding Services
July 7 - Shares of Uber Technologies (NYSE:UBER) climbed about 3% Monday to an all?time peak of $96.4. The rally lifted Uber's market value to nearly $202 billion as investors applauded its recent performance. Warning! GuruFocus has detected 6 Warning Sign with UBER. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows Over the past year, Uber's stock has jumped roughly 52%, reflecting growing confidence in the ride?hailing and delivery giant. Annual revenue reached $45.4 billion. Analysts maintain a "outperform" consensus, with the highest price target at $97. In other developments, Moove is closing in on a $1.2 billion debt deal to scale its autonomous?driving fleet with Waymo, a unit of Alphabet (NASDAQ:GOOGL). Meanwhile, Uber Eats has added six regional supermarket chains, including Big Y and King Kullen, to its grocery service. Uber is also in talks to acquire U.S. operations, a move backed by Bernstein, which maintains an outperform rating and a $95 target. BMO Capital highlights Waymo's leadership in self?driving tech, while Citizens JMP warns of a San Francisco mileage slowdown. All told, Uber's record share price caps a series of strategic moves aimed at diversifying and strengthening its core businesses. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
02-07-2025
- Business
- Yahoo
Africa's Moove Just Raised $1.2B to Take On Tesla in Self-Driving Race
Uber (NYSE:UBER)-backed Moove, the African-born ride-hailing disruptor, is reportedly closing in on a $1.2 billion debt raise to fund its boldest move yet: rolling out a U.S.-based autonomous vehicle fleet in partnership with Alphabet's Waymo. According to sources close to the deal, the round is oversubscribed with strong appetite from both private credit players and traditional lenders. Moove isn't commenting on specifics, but co-founder Ladi Delano confirmed that the company has already repaid its earliest debt facilitiesan early signal of financial maturity as it positions itself for the next leg of global expansion. Warning! GuruFocus has detected 6 Warning Sign with UBER. Originally launched in 2020 to finance vehicles for African gig drivers, Moove now operates across more than a dozen countries, including India, Mexico, and the UAE. Its platform has scaled to 38,000 vehicles, and revenue has surged to nearly $400 million year-to-dateup from $275 million in 2024, according to people familiar with the matter. After striking a partnership with Waymo in late 2024, Moove is now preparing to own and operate a U.S.-based self-driving fleet powered by Waymo tech. That's a major pivot from a leasing-first model to controlling autonomous operations directlya move that could potentially reshape its unit economics and investor appeal. Moove's shift toward autonomy isn't just about catching the next waveit's about controlling the surfboard. With a young, digital-native population in its home market and proven traction abroad, Moove is positioning itself as more than just another fleet operator. If this $1.2 billion raise lands as expected, the company could be entering a very different leagueone where infrastructure ownership, repayment credibility, and technology partnerships unlock new optionality for both growth and monetization. Investors watching the evolving autonomous ecosystem may want to keep an eye on how this Nigerian-born player carves out its U.S. playbook. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
02-07-2025
- Business
- Bloomberg
Uber-Backed Moove to Raise $1.2 Billion in Debt for Waymo Fleet
African ride-hailing startup Moove is close to raising $1.2 billion in a debt round that will help it finance a rollout of an autonomous-driving fleet with Alphabet Inc. 's Waymo and expand in the US, people familiar with the matter said. The round is oversubscribed, with interest from private credit firms and banks, and will be finalized in the coming weeks, said the people, who asked not to be identified because the information is still private.
Business Insider
15-05-2025
- Automotive
- Business Insider
The Nigerian business strategist powering the global shift to driverless shared mobility
In the emerging architecture of global transportation, few African executives have shaped the conversation, let alone the infrastructure, as profoundly as Tayo Oyegunle. A Yale MBA graduate and former investment analyst, Tayo has become a globally respected mobility strategist, helping transform transportation in high-growth markets through a disciplined combination of technology, financial innovation, and urban systems thinking. Today, as the Head of Global Marketplace Partnerships at Moove, Tayo is core to aiding the next frontier in global mobility: with Moove's recent foray into the deployment of driverless electric vehicles via a recent partnership with Waymo, where it will lead the management infrastructure, Moove is primed to become a leading player in the new mobility world of autonomous vehicle that seeks to eliminate the need for private car ownership while unlocking inclusive access to movement at scale. From Lagos to London, Dubai to Delhi, his work at Moove stretches across nine countries on three continents, positioning him as one of the few Africans in top position at a business shaping how cities will move and grow in the next century. Scaling the Infrastructure for Smart Autonomous Cities Tayo's mandate is as complex as it is ambitious: to design and manage partnership strategies that grow Moove's fleet operations and products across new verticals and geographies. At Moove, he is part of the leadership team driving the company's evolution from a fintech startup to a full-stack infrastructure player capable of supporting post-ownership, frictionless urban transport ecosystems. The model is revolutionary. In the cities Moove is partnering with revolutionzing and democratising is building toward, individuals will no longer need to own vehicles. Instead, fleets of connected, driverless electric cars will circulate continuously, summoned by users when needed and released when done. No parking. No idle assets. No emissions. These systems are designed to optimize vehicle utilization, dramatically reduce congestion, and democratize access to mobility without the financial burden of ownership. 'We're not just financing vehicles. We're architecting how people will move in the world ahead. Access will replace ownership. Intelligence will replace infrastructure. Mobility will be a service layer, shared, clean, and autonomous,' Tayo explains. From Uber to Moove: A Record of Systems-Level Execution Tayo's background uniquely qualifies him for this task. As Uber Nigeria's Country Manager, he led operations across three major cities and launched UberBOAT, the first water-based ride-hailing product in sub-Saharan Africa, in partnership with the Lagos State Waterways Authority. His expansion into Benin City aligned closely with state-level development policy, earning Uber recognition as a key enabler of jobs and mobility infrastructure. He later became Vice President of Global Operations at Kobo360, where he managed the company's supply chain resilience during the COVID-19 crisis. With law enforcement agencies blocking food and medical logistics across the country, Tayo led rapid-response advocacy to unlock movement, stabilize markets, and safeguard public health. His role demonstrated not just logistical command, but high-level coordination with government, private stakeholders, and civil society. Over these period he built operational and leadership muscles to run $100M+ business in the African mobility space and clearly distinguished himself as a thought leader in the scene. Moove: The Strategic Evolution from Fintech to Mobility Infrastructure In 2021, Tayo became Chief Operating Officer at Moove Africa, where he transformed the startup's model from vehicle financing to full-stack urban mobility enablement. He led Moove's expansion in South Africa, Nigeria, Ghana, and Kenya, providing access to financing for over 10,000 mobility entrepreneurs across the African continent and help to also scale the company's bouquet of product offerings, which served as a core of its launch into SouthEast Asia and the Middle East. Supported by Tayo's strategic leadership, Moove is actively piloting the management of autonomous vehicle fleets in urban corridors in the US, building partnerships with EV infrastructure players, and partnering with its platform partners to push toward zero-emission in niche progress cities across the world. Africa as a Platform for Global Urban Strategy Tayo's strategic insight goes beyond deployment. He views Africa not as a lagging consumer of Western mobility trends, but as a launchpad for scalable, sustainable, and inclusive urban systems. 'Africa's transport infrastructure has gaps, but it also has flexibility. We can leapfrog legacy car ownership models and implement shared, electric, and autonomous solutions faster than the West. If we build right, we won't just catch up, we'll lead.' He is currently laying the groundwork for a Pan-African Mobility Infrastructure Fund, a vehicle to finance EV adoption, smart fleet networks, and AI-based traffic coordination platforms. This fund will act as a continental investment arm, unlocking both public-sector alignment and private capital for large-scale infrastructure. At a time when cities are overwhelmed by traffic, pollution, and outdated infrastructure, Tayo Oyegunle is offering a scalable vision grounded in technology, financial innovation, and global coordination. His leadership at Moove positions him as one of the most strategically significant Nigerian executives operating at a global level, not only because of the markets he's shaping, but because of the system-level transformation he is driving. With a rare blend of Wall Street rigor, Silicon Valley vision, and deep African fluency, Tayo Oyegunle is not just building businesses. He is defining how the next billion people will move. He is the Nigerian strategist guiding the world beyond car ownership toward a shared, intelligent, and inclusive mobility future.
