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TechCrunch reports that Uber is acquiring imaging/mapping assets and talent from Microsoft's Bing search engine division:
Uber will acquire assets from Microsoft Bing, including roughly 100 employees focused on the product's image collection activities. In short, Uber is absorbing data-collection engineers from Microsoft to bolster its own mapping work. The companies confirmed the transaction with TechCrunch, but each declined to name the terms of the agreement. Microsoft handing Uber part of its operating expenses is minor, given the financial scale of the firms. The technology transfer is far more interesting.
The move also underscores Uber's ambition. A firm doesn't hire 100 specific-focus engineers in a single move if it doesn't have large product aspirations. The new Uber kids are the folks who worked to get image data into Bing, meaning that the search engine's 3D, aerial and street footage is in large part their doing. You can therefore start to presume what Uber has in mind.
The deal continues a recent Uber splurge on mapping technology:
Although most Uber services rely on digital maps, much of its interest in mapping is focused on how to improve its carpooling service, UberPool. While Uber relies heavily on mapping technology from Apple, Baidu and especially Google, the company has taken strides to bring as much mapping expertise in-house as possible.
In March, Uber acquired deCarta, a mapping technology start-up. Uber has also aggressively pursued mapping engineering talent throughout Silicon Valley. And for months, Uber has been avidly competing to buy Nokia Here, the mapping division of the Finnish technology giant, in a deal that could be valued at up to $4 billion, according to several people with direct knowledge of the matter. A small number of bidders are still circling Nokia's business, according to these people, who spoke on condition of anonymity because the negotiations were not public.
In other news, two Uber managers were arrested in France and questioned over the firm's ongoing "illicit activity," following protests by taxi drivers and the ban of UberPOP by France's interior minister.
Original Submission
(Score: 2) by Rich on Tuesday June 30 2015, @10:42AM
May it be that they have plainly too much money? From http://www.nytimes.com/2015/05/11/technology/uber-valuation-highlights-the-speedy-pace-of-investments.html [nytimes.com] and a linked article, I read that the stakes are around $3bn now, and, "double up or quit", looking into raising their bet to $4.5bn. That's a big pile of cash for a little ride sharing app. The NYT article also hints that $1.5bn of investment are supposed to return $50bn these days - at least for the "big name" investors mentioned :)
My personal imagination about what is going on there is roughly:
Investor: No one honors money with good interest anymore. And we've got too much of it. Let's make more anyway. Present a simple business idea of something everyone needs every day.
Entrepreneur: Electricity? Ride the renewables wave? Music? Everyone listens to music.
Investor: Nah. Utilities are commodity. No return. And no one matches Apple with anything media.
Entrepreneur: Personal transport? Everyone needs to go around every day.
Investor: Yea. Sounds good. The monopoly structure even has lots of profit to milk off. Here's a wad of cash. Buy every opinion and every vote you need. Just outspend the little fiefdoms. We'll recover that later when they play by our rules.
Entrepreneur: Er, sorry, we blew two billion on bribes and opinion leaders but the stupid fiefdoms don't go away.
Investor: Then FUCKING DO SOMETHING! We're big money and we don't like write-offs.
I haven't looked deep into the investor structure, but, as you say, it may well be that "Investor" above is Microsoft for a good part and they may seek synergies beyond pure ROI. Eventually they've got to score something huge again, or they will end up in trouble.