The below content and projections are the opinion of the authors. Any conclusions or takeaways are their own. This should not be considered as investment advice. Investing involves the risk of loss and returns are not guaranteed.
1) Uber to offer flight, long-distance travel reservations on its app as company continues push beyond ride-sharing
- The company plans to add these features in a pilot program in its app in the U.K. this year.
- New booking services on Uber’s app will include flights, intercity trains, and buses.
- The company plans to work with existing booking services, but hasn’t yet disclosed its outside partners.
Titan’s Takeaway: Uber currently reports results in three segments — Mobility, Delivery, and Freight. And the company’s push into air travel suggests whatever the broadest interpretation of these categories might be, Uber intends to find a way to serve that market.
2) Payments startup Fast shuts down after raising $120 million as red hot venture market shows signs of cooling
- Fast had been working on offering one-click checkout solutions for online retailers.
- The company was valued at as much as $500 million in its latest funding round.
- Fast had been seeking additional funding or a potential sale in recent weeks, according to reports.
Titan’s Takeaway: Higher interest rates make money more expensive for companies running short on cash. And while venture investors may be flush with capital, more expensive funding comes with more discerning questions, and Fast won’t be the only company offering disappointing answers through this cycle.
3) Amazon’s satellite project secures over 80 launches as space-based internet competition heats up
- Amazon’s Project Kuiper plans to launch these satellites over a five-year period, and has received FCC authorization to deploy 3,236 satellites.
- According to its FCC approval, half of Kuiper’s satellites must be operational by 2026.
- Last year, Kuiper said it planned to launch two prototypes in 2022; those launches are yet to take place.
Titan’s Takeaway: The logic is straightforward — help more people on Earth more easily connect to the internet, and they’re more likely to become Amazon customers. This next frontier of innovation also brings with it the next frontier of investment, and the price tag will run into the billions.
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