Uber fined 800,000 euro in France

Uber has been fined �800,000 ($907,000) in France over its cheap UberPop service, a service that was banned in 2014.

UberPop connected app users with non-professional drivers that did not have taxi/limo requirements, causing an uproar from the taxi unions. Two Uber executives were even arrested for "operating an illegal business" as a court deliberated on the legality of the service.

The unions won in 2014, but an appeals court overturned and the case went to France's highest court which upheld the ban.

Comically, the taxi unions were seeking 100 million euro in damages but will get less than 1 million.

Source:
Verge

Written by: Andre Yoskowitz @ 9 Jun 2016 11:23

hearme0

Uber is so overvalued!

Just like FB...........when these two little bubbles pop...........it's gonna be profound.

I give Uber 5 years before a realistic valuation comes about and FB I give 10 years before a realistic one comes out.

9.6.2016 14:09 #1

KillerBug

I'd go the other way on FB; everyone already knows it is a house of cards and everyone is just trying not to breath in that direction.

Uber...they will probably fail not because of a lack of value (it really is a good service that provides real-world value), but because of competition, especially when it comes to socialist countries where it is not about what you can do or how you do it, but rather about who you know, who you bribe, and where you pay your taxes.

10.6.2016 05:39 #2

scorpNZ

Agree France is a right basket case & has been for years

http://www.afterdawn.com/guides/
http://www.realmodscene.com/

13.6.2016 01:52 #3

AfterDawn: News