The decision reopens a massive market for the ride-sharing giant, which is valued highly, but still isn’t very profitable. The company can now continue services in London for 15 months, a provisional license far shorter than the usual five-year permits, according to The New York Times, which first reported on the verdict. Regulators in London initially rejected Uber’s application to renew its license in September 2017, citing “a lack of corporate responsibility.” Specifically, the local government transportation agency found that Uber wasn’t sufficiently reporting serious criminal offenses to police, among other complaints.
Reattaining permission to operate in London is not just directly huge for its bottom line, as it’s also a critical step in rebuilding the image of a company that took a hit with a spate of allegations of impropriety — whether internal sexual harassment, or corporate espionage. (RELATED: Report: Uber Executives Analyzed A Rape Victim’s Medical Records Over Suspicions)
Uber has been spending a substantial amount of money on slots for ads so it can try to portray the fairly new CEO Dara Khosrowshahi as a rejuvenating force for the company.
The judge at Westminster Magistrates’ Court in London might have proved with its adjudication that it sees Khosrowshahi as such, and Uber overall as a changed entity.
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