Subsequent Events (Notes) |
3 Months Ended |
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Mar. 31, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 18 – Subsequent Events Careem Convertible Notes The first tranche of $891 million unsecured convertible notes in connection with the Careem acquisition that were outstanding as of March 31, 2020 were settled in cash on April 1, 2020. Discontinuation of Uber Eats in Certain Markets On May 4 2020, the Company announced the discontinuation of Uber Eats operations in certain markets by June 4, 2020. The operations in these markets are not material. Reduction of Workforce On May 6, 2020, the Company announced plans to reduce its operating expenses in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic and its impact on the Company’s business. The Company announced a reduction to its customer support and recruiting teams by approximately 3,700 full-time employee roles. Related severance and other termination benefits costs are not expected to be material. Divestiture of JUMP and Convertible Note Investment in Lime On May 7, 2020, the Company entered into a series of transactions and agreements with Neutron Holdings, Inc. dba Lime (“Lime”) including (i) the divestiture of certain assets of Uber’s dockless e-bikes and e-scooters business and operations operated as JUMP which is included in the Company’s New Mobility offering (the “JUMP Business”), in exchange for common stock in Lime representing approximately 16% of the fully-diluted capitalization of Lime, (ii) an $85 million investment in Lime in the form of a secured convertible note which shall be convertible at any time at the election of the Company into senior preferred stock of Lime, and (iii) a commercial collaboration agreement. All transactions have been completed, except for the divestiture of the JUMP Business in certain jurisdictions outside of the United States, which are expected to be completed during the second or third quarter of 2020. Additionally, during a two-year period beginning on the second anniversary of the transaction, the Company will have a contractual call right to acquire all of the outstanding equity interests of Lime held by certain other significant shareholders at the then fair market value, subject to receipt of applicable regulatory approvals.
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