YC-backed Heru raises $1.7M to build software services for Latin American gig workers
- Today we’re taking a look at Heru, a startup based in Mexico City that is announcing a $1.7 million raise after taking part in YC’s Summer 2019 session.
- Heru wants to provide software-based services for gig workers in Mexico, and eventually other countries.
- Heru is a package of software products aimed at delivery drivers and the like, helping provide insurance, credit and tax preparation support.
- The startup worked with an insurance provider to build what it describes as a “tailor-made” policy for gig workers who need low-cost coverage.
- The startup, in addition to building its app, put together a number of so-called “Heru Casas,” places where gig workers can recharge their phones and use a bathroom.
- You need the app to enter a Heru Casa, helping the startup find early users.
Uber reportedly will sell its flying taxi business to secretive startup Joby Aviation
- Uber’s ambitious and quixotic effort to launch a flying taxi service is coming in for a landing.
- According to Axios, the ride-hailing company has agreed to sell its Uber Elevate division to secretive startup Joby Aviation.
- The news comes as Uber CEO Dara Khosrowshahi attempts to push his company closer to profitability, which includes the sale of the money-losing parts of the business.
- The company is also said to be exploring the sale of its autonomous vehicle division.
- A spokesperson for Uber declined to comment.
Uber completes its $2.65 billion purchase of Postmates
- Uber has completed its $2.65 billion purchase of food-and-grocery delivery service Postmates, the company has announced.
- The all-stock deal was prompted, in part, by the collapse of Uber’s ride-hailing business in the wake of the COVID-19 pandemic.
- Eater, earlier this summer, said that the deal will “condense the number of delivery app options to three,” reducing people’s ability to take their business elsewhere.
- Politico reports that Uber CEO Dara Khosrowshahi has said that the company will work to push similar law changes in other states in future.
- Uber’s focus on its grocery and food delivery business comes as it became the one positive in an otherwise bad year.
- In its most recent financial report, the company said that while its mobility division saw revenue fall by around 53 percent, its Uber Eats arm saw a 125 percent increase.
Uber officially completes Postmates acquisition
- The all-stock deal, valued at around $2.65 billion at the time of its disclosure, sees Postmates join Uber, while continuing to operate as a separate service with its own branding and front-end – while some backend operations, including a shared pool of drivers, will merge.
- Uber detailed some of its further thinking around the newly combined companies and what that will mean for the businesses they work with in a new blog post.
- The company posited the move as of benefit to the merchant population they work with, and alongside the official closure announced a new initiative to encourage and gather customer feedback on the merchant side.
- This sounds similar in design to Uber’s prior efforts to focus on driver feedback from a couple of years ago in order to improve the way it works with that side of its double-sided marketplace.