Sharing/On-demand Economy Services

Instacart Inc. orders and revenue grew in the second quarter as consumers stuck to online grocery delivery despite rising prices and store reopenings, a promising sign for investors as the company prepares for a public offering as soon as later this year.Instacart is one of the few companies in Silicon Valley moving toward a public listing in what might be one of the slowest years for IPOs in decades. A drop in the value of formerly highly valued technology stocks ranging from…

After years of swallowing new businesses, Grubhub’s owner has begun a painful but much-needed purge. On Friday, Amsterdam-headquartered food-delivery company Just Eat Takeaway.com TKWY 30.31% said it would exit its Latin American joint venture. Its existing partner, Prosus, will pay up to €1.8 billion for JET’s one-third stake in São Paulo-based iFood, equivalent to $1.81 billion. Venture capital investor Prosus, also listed in…

Drivers for DoorDash Inc. DASH -0.26% are now delivering items to consumers purchased online from Facebook META 1.41% Marketplace as part of a new partnership between the delivery app and Facebook parent Meta Platforms Inc. Meta and DoorDash tested the service in several U.S. cities in recent months, the companies said. The service lets Facebook users purchase and receive items from Marketplace without leaving their…

Lyft Inc. has formed Lyft Media, a new business unit consolidating and expanding the advertising offerings at the ride-hailing company.The news comes more than two years after Lyft acquired Halo Cars Inc., which makes monitors to run digital ads atop cars, and as Lyft faces an increasingly crowded marketplace for advertising in and around car services. Lyft hopes the new advertising products can generate revenue and help it compete against rivals like Uber Technologies…

Some big U.S. companies say hiring is getting easier, at least by a little.Employers in hospitality, retail, healthcare and other industries hardest hit by worker shortages over the past two years say they are seeing emerging signs that recruiting workers—and getting them to accept jobs when offered—is becoming less of a challenge, even as the overall job market remains tight. The national hospital chain HCA Healthcare Inc., HCA 0.04% which struggled to find enough…

TOKYO—Japanese technology investor SoftBank 9984 0.74% Group Corp. on Monday reported a record quarterly loss of more than $23 billion after its Vision Fund investments suffered from the global selloff in technology shares. The April-June loss was about 1½ times the previous record set just three months earlier in the January-March quarter. The weak results reflect the fall in technology shares around the globe recently,…

DoorDash Inc.’s revenue rose in the latest quarter, as consumers stuck to ordering food and household essentials despite restaurant and store reopenings.The delivery app raised guidance for the year on the total value of orders placed on its platform, even though it said it expects “a softer consumer spending environment” in the second half of the year. DoorDash’s revenue in the three months through June grew 30% to $1.6 billion from a year earlier. That compared with the average revenue…

Lyft Inc. LYFT 4.07% said belt tightening amid rising inflation and slowing economic growth helped deliver a stronger-than-expected adjusted operating result.The ride-hailing company on Thursday posted an adjusted operating profit for the second quarter, which strips out some items, of $79.1 million, well ahead of its own projection three months ago and Wall Street’s forecasts. Lyft still posted a wider net loss at $377.2 million compared with the year prior. “We…

Grubhub’s parent company has written down the value of the online food-ordering service by 3 billion euros, equivalent to a little over $3 billion, just a year after buying the pandemic-era darling for $7.3 billion. Just Eat Takeaway.com TKWY 5.37% NV said Wednesday it was taking the impairment because of a reduction in comparable valuations in the sector, among other factors. The Amsterdam-based company said it is continuing to…

Uber UBER 18.90% Technologies Inc. doubled quarterly revenue, improved its financial performance and said high inflation was causing more people to drive for the platform to help offset rising household costs. The ride-hailing company said Tuesday that revenue grew 105% to $8.07 billion for the three months through June. The company also posted adjusted earnings—a figure that excludes some expenses—of $364 million, its strongest ever. Both figures beat Wall Street…