Uber Resumes Ridesharing In Some Cities, Makes It More Attractive
Uber Technologies, Inc (NYSE: UBER) has resumed shared rides in selected U.S. cities after pulling the service in March 2020 due to the Covid-19 pandemic.
UberX Share, which allows riders to share a car with riders for a discount, is available in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis, and Pittsburgh.
Uber looks to expand to other locations during the summer.
Also Read: Here's Why Mizuho Remains Incrementally Positive On Uber, Meta, Baidu, JD
The move aims to help Uber deal with the surging fares due to a driver shortage and counter the present slowdown.
Lyft, Inc (NASDAQ: LYFT) resumed shared rides to Philadelphia and Miami in 2021 and looked to expand to San Francisco, San Jose, Denver, Las Vegas, and Atlanta, CNBC reports.
UberX Share riders will get an upfront discount and up to 20% off the total fare on matching a co-rider.
UberX Share riders will reach their destination 8 minutes later than a private Uber.
Uber has limited UberX Share rides to a total of two passengers.
Price Action: UBER shares traded higher by 0.18% at $21.83 premarket on the last check Tuesday.
Photo via Wikimedia Commons
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
