Latest news with #Serve
Yahoo
2 days ago
- Business
- Yahoo
Grand Jury: City Needs to Buck Up Nonprofits and Get Out of Its Own Way to Better Help Vulnerable San Franciscans
2024–2025 San Francisco Civil Grand Jury Report calls out obstacles to effective social services grantmaking. SAN FRANCISCO, June 4, 2025 /PRNewswire/ -- San Francisco spends more than a billion dollars per year on grants to social services nonprofits. The provision of critical services with this money, such as housing, mental health treatment, childcare, and senior services, is hamstrung by weak organizational capacity and an overly complex procurement process, the San Francisco Civil Grand Jury reported today. The Jury found that nonprofit grantees often lack the skills to manage city funds effectively and that the city's lengthy, over-complicated and under-resourced procurement process further impedes service provision. Moreover, the city's monitoring programs do not lead to timely correction of mismanagement problems, aggravating inefficiency and undermining public trust. Investigation Committee Chair Nicholas Weininger said, "Social services nonprofits struggle to do their best for vulnerable San Franciscans. The city fails these nonprofits, and their own employees, by entangling them in layers of over-complicated, time-consuming bureaucracy. As a result, city residents are denied timely, effective delivery on specific promises to make the city a better, healthier place. This erodes both quality of life and trust in government." The Jury's report details the management problems commonly experienced by social services nonprofits and the inefficiencies in the city's process for awarding grants to these nonprofits. The report's recommendations include: Starting up a dedicated team to proactively help nonprofits manage themselves better. Simplifying and speeding up the granting process through comprehensive reform that eliminates unnecessary review steps and sets clear deadline goals. Investing in training and tools to help city employees make grants efficiently. Monitoring nonprofits for mismanagement risks and addressing those risks before they turn into expensive problems. Weininger added: "The Jury presents in its report clear analysis of how we got here and prudent, budget-sensitive recommendations for improvement. As it stands, inadequate risk management and byzantine processes are setting money on fire. In a time of budget austerity, the city must step up and reform, for the sake of every taxpayer and every vulnerable San Franciscan." To read the full report, Capacity to Serve–Setting Social Services Nonprofits Up for Success, please visit: About the San Francisco Civil Grand Jury The Superior Court selects 19 San Franciscans to serve year-long terms as Civil Grand Jurors. The Jury has the authority to investigate City and County government by reviewing documents and interviewing public officials and private individuals. At the end of its inquiries, the Jury issues reports of its findings and recommendations. Agencies identified in the report must respond to these findings and recommendations within either 60 or 90 days, and the Board of Supervisors conducts a public hearing on each Civil Grand Jury report after those responses are submitted. For more information, visit the San Francisco Civil Grand Jury website: View original content: SOURCE San Francisco Civil Grand Jury Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Serve Robotics to Hold Annual Meeting of Stockholders on June 12, 2025
SAN FRANCISCO, May 30, 2025 (GLOBE NEWSWIRE) -- Serve Robotics (the "Company" or "Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, will hold its Annual Meeting of Stockholders ("Annual Meeting") virtually on Thursday, June 12, 2025 at noon PDT. Stockholders of record at the close of business on April 14, 2025 will have the right to participate at the Annual Meeting. Stockholders will be able to attend the Annual Meeting, vote and submit questions during the meeting by visiting and entering the 16–digit control number included on their Notice of Internet Availability of Proxy Materials (the "Notice") or on their proxy card. The Company commenced mailing of the Notice to stockholders on April 25, 2025. The Notice contains instructions on how to access the Proxy Statement and the annual report, how to vote via the internet or by telephone, and how to receive a paper copy of our proxy materials by mail. If you wish to receive company email notifications, please register at About Serve RoboticsServe Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets. For further information about Serve Robotics (Nasdaq:SERV), please visit or follow us on social media via X (Twitter), Instagram or LinkedIn @serverobotics. ContactsMediaAduke ThelwellHead of Communications & Investor Relationspress@ Investor in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
29-05-2025
- Entertainment
- TimesLIVE
Fashion and trends spotted at the Nedbank International Polo
In partnership with Stella Artois, the 2025 Nedbank International Polo reignited the age-old rivalry between South Africa and Argentina — a stylish showdown on the field and the sidelines. Hosted at the iconic Inanda Club in Sandton Argentina narrowly defeated South Africa by 14 to 12 in a thrilling match watched by some of the country's most fashionable guests. Guests showed up and showed off for the theme 'Couture on Green,' transforming the Sandton polo field into a runway of bold elegance. True to form, Stella Artois elevated the day with its signature Perfect Serve — crisp, chilled chalices presented in iconic fashion — while notable personalities such as actor and musician Nirvana Nokwe-Mseleku, creative director and co-founder of Button Brothers Palmer Mutandwa, multidisciplinary artist Kokona 'Kay Kay' Ribane and BET TV presenter Naledi Radebe curated standout style moments. Here are some of the looks you may have missed. SEEING GREEN Actor and musician, Nirvana Nokwe. Image: Strike a Pose Studios Rocking the Couture on Green theme. Image: Strike a Pose Studios Lubabalo Mxalisa of Neimil. Image: Strike a Pose Studios Guest at the polo. Image: Strike a Pose Studios LAYERS AND FRILLS Flowy dresses were a favourite among guests. Grecian inspired styling to create sophisticated silhouttes. Image: Strike a Pose Studios Guests emrbace heritage for elevated looks.
Yahoo
22-05-2025
- Business
- Yahoo
Should You Buy Serve Robotics Stock After Its 55% Crash? This Recent Move by Nvidia Might Hold the Answer.
Serve Robotics developed autonomous delivery robots powered by Nvidia's hardware and software. Nvidia was one of Serve's largest shareholders before selling its entire stake at the end of 2024. Serve will deploy 2,000 new robots under a deal with Uber Eats, which should drive a surge in revenue. 10 stocks we like better than Serve Robotics › Nvidia supplies the world's most advanced artificial intelligence (AI) chips for data centers, but it also has a growing portfolio of other AI solutions. For example, Serve Robotics (NASDAQ: SERV) uses Nvidia's Jetson Orin hardware and software platform in its flagship Gen3 robots, giving them the capability to autonomously deliver food orders on behalf of platforms like Uber Technologies' Uber Eats. Nvidia used to be one of the largest shareholders in Serve Robotics until it sold its entire stake during the final quarter of 2024. It's not clear why Nvidia exited the position, but Serve stock is down by almost 30% in 2025, and by 55% from its all-time high. It seems the chip giant has excellent timing. But Serve is on track to deploy 2,000 Gen3 robots this year under a major deal with Uber Eats, and Wall Street thinks it will lead to significant revenue growth. Should investors buy Serve stock while it's down, or should they sit on the sidelines with Nvidia? Serve believes existing last-mile logistics solutions are inefficient, because they rely on cars with human drivers to deliver small food orders. The company is betting these deliveries will be handled by autonomous robots and drones in the future, creating a potential $450 billion market opportunity by 2030. Serve's robots have achieved Level 4 autonomy, which means they can drive on sidewalks within designated areas without any human intervention. These robots have completed over 100,000 deliveries on behalf of restaurants primarily in Los Angeles since the start of 2022, with 99.8% accuracy, which makes them significantly more reliable than human delivery drivers. Serve's latest Gen3 robot offers vast improvements in computing power (thanks to Nvidia's Jetson Orin systems), speed, range, and battery life compared to previous versions. It is also up to 65% cheaper to manufacture thanks to Serve's partnership with Magna International, which is a $14.5 billion producer of parts and components for the automotive industry. Serve is aiming to charge $1 per delivery across the board in all markets, and robots with greater capabilities combined with cheaper manufacturing costs will bring the company a step closer. As I mentioned earlier, Serve is working to deploy 2,000 Gen3 robots this year under its deal with Uber Eats. The company launched 250 during the first quarter of 2025, with 700 more expected by the end of the third quarter, and the remainder to come during the fourth quarter. The new robots have already enabled Serve to expand into Miami and Dallas, with Atlanta to follow during the current quarter. Serve generated just $440,465 in revenue during the first quarter of 2025, which was a 53% drop compared to the year-ago quarter -- but that prior result was inflated by a one-off software licensing fee Magna paid the company to use some of its technology. Serve's first-quarter revenue was actually a 150% increase compared to the fourth quarter of 2024 three months earlier, which is a better indication of how quickly its delivery business is ramping up. In fact, Wall Street's consensus estimate (provided by Yahoo! Finance) suggests the company could generate $6.8 million in revenue for the whole of 2025, which means there could be massive growth over the next three quarters as more robots are deployed. But Serve has a big issue. It lost $13.2 million on the bottom line during the first quarter, which puts the company on track to exceed its record annual loss of $39.2 million from last year. Building autonomous technologies isn't cheap -- Serve's biggest cost is research and development, which regularly accounts for half of the company's total operating expenses, and that probably won't change anytime soon. Therefore, even if Serve generates $6.8 million in revenue during 2025, it won't be anywhere near enough to prevent another gigantic net loss. The company had $197.7 million in cash on its balance sheet at the end of the first quarter, so it can afford to sustain its current losses for the next couple of years. However, management will eventually have to turn its focus toward profitability; otherwise, it will have to raise more money from investors, which will significantly dilute existing shareholders. Based on Serve's trailing-12-month revenue of $1.3 million and its market capitalization of $599 million, its stock trades at an eye-popping price-to-sales (P/S) ratio of 460. That means it's a staggering 18 times more expensive than Nvidia stock, which trades at a P/S ratio of just 26. I don't think Serve deserves to be trading at such a steep premium to one of the world's highest-quality companies, which has cemented a leadership position in AI and has a track record of success that spans decades. With that said, Serve's valuation does look more reasonable if you measure it based on its future revenue, using Wall Street's forecasts. If you assume the company will generate $6.8 million in revenue this year, that means its stock is trading at a forward P/S ratio of 88. Moreover, if you assume Serve will deliver $57.8 million in revenue during 2026 as Wall Street expects, then its stock trades at a forward P/S ratio of just 10.3 based on that result. However, there is absolutely no guarantee that Serve will meet Wall Street's estimates, so investors who buy the stock today are taking a very big leap of faith. Plus, even though we don't know exactly why Nvidia sold its 3.7 million shares in Serve (which would be worth $39 million at the current price), it does take some of the shine away from the investment case. On the flip side, if investors think Serve will capture a significant portion of its estimated $450 billion addressable market by 2030, then its current stock price is probably a bargain. But it's important to keep the substantial risks in mind when buying into this story. Before you buy stock in Serve Robotics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Serve Robotics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia, Serve Robotics, and Uber Technologies. The Motley Fool recommends Magna International. The Motley Fool has a disclosure policy. Should You Buy Serve Robotics Stock After Its 55% Crash? This Recent Move by Nvidia Might Hold the Answer. was originally published by The Motley Fool Sign in to access your portfolio
Fashion Network
21-05-2025
- Business
- Fashion Network
Amazon Fashion rebrands its Gen Z online store as Serve
Amazon Fashion has relaunched its dedicated online storefront 'Serve' for the Gen Z customers formerly known as Next Gen Store. The store will offer over 2 million products from more than 350 domestic and global brands, including new additions like Barcino, Tokyo Talkies, Highlander, The Bear House, Diljit x Levi's, Mokobara, Casio, Chumbak, Cosrx, and Moxie. Additionally, the store features monthly trend updates, seasonal lookbooks, and creator-curated style edits. Commenting on the launch, Nikhil Sinha, director at Amazon Fashion India in a statement said, 'After pioneering India's first dedicated Gen Z store in 2023, we are elevating our commitment with 'Serve'. Our research consistently reveals this demographic values individuality and trend-alignment alongside affordability.' 'With 'Serve', we are democratizing trend-forward fashion—bringing inclusive, accessible style to all of India, particularly tier 2 and 3 cities where we have seen over 40 percent year-on-year growth. We have created not just a shopping destination, but a cultural platform that empowers authentic self-expression through affordable style, making fashion a tool for confidence and creativity accessible to everyone,' he added. Amazon claims that its online store has seen 3 times increase in Gen Z customers and a 4 times surge in shoppers from tier 2 and 3 cities like Chandigarh, Kochi, Patna, Nagpur, Jaipur, and Surat.
