BrandArena: Uber To Say “Ciao” To Italian Commuters?

Monday, 10 April 2017

Uber To Say “Ciao” To Italian Commuters?

An Italian court, on Friday, ordered Uber to stop all its activities in the country. The court cited unfair competition as the reason for this ruling.

According to the judgment, the company has to stop its operations in the county within 10 days and if fails to do so than company has to pat $ 10,000 fine for each day it remains active after the deadline. While Uber’s $70 billion valuation makes that amount sound like chump change, it hasn’t exactly been profitable and actually bled billions in 2016.

The San Francisco-based firm said in a statement: “We are shocked by the Italian’s court decision and will appeal. Thousands of professional, licensed drivers use the Uber app to make money and provide reliable transportation at the push of a button for Italians.”

Uber told La Repubblica that it will appeal the decision.

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