Uber Is Expanding an Initiative That Will Save Riders Money — Here’s Where It’s Coming Next
The program, which paused in 2020, re-launched last summer.
Uber‘s shared-rides program, which hasn’t been available in most cities since 2020, is back — and growing.
The company will expand its UberX Share program to five additional cities — Baltimore, Miami, Nashville, Philadelphia and Washington D.C. — “in the coming weeks,” head of cities and transportation policy Shin-Pei Tsay on Uber‘s site.
Uber re-launched its ride-share initiative in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis and Pittsburgh last summer, per .
With UberX Share, riders can save up to 20% when matched with a rider along their route; the program’s designed to add no more than eight minutes to a trip on average, per the company.
The news follows a strong first quarter for Uber. The company’s adjusted earnings before interest, taxes, depreciation and amortization — one of its most closely tracked financial metrics — hit $761 million, exceeding expectations, reported.
Lyft, which added $375 million to its insurance reserves in the first quarter, saw an adjusted EBITDA loss of $248.3 million and said that the figure minus insurance costs would have been $127 million, reported.
Under new CEO David Risher, who assumed the role last month, Lyft might once again eliminate its own shared-rides service in an effort to become more profitable, per .
Related: Report: Uber, Lyft Drivers Face Suspensions, Discrimination
Uber is up more than 30% year over year; Lyft is down more than 50% over the same period.
Uber‘s shared-rides program, which hasn’t been available in most cities since 2020, is back — and growing.
The company will expand its UberX Share program to five additional cities — Baltimore, Miami, Nashville, Philadelphia and Washington D.C. — “in the coming weeks,” head of cities and transportation policy Shin-Pei Tsay on Uber‘s site.
Uber re-launched its ride-share initiative in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis and Pittsburgh last summer, per .
With UberX Share, riders can save up to 20% when matched with a rider along their route; the program’s designed to add no more than eight minutes to a trip on average, per the company.
The news follows a strong first quarter for Uber. The company’s adjusted earnings before interest, taxes, depreciation and amortization — one of its most closely tracked financial metrics — hit $761 million, exceeding expectations, reported.
Lyft, which added $375 million to its insurance reserves in the first quarter, saw an adjusted EBITDA loss of $248.3 million and said that the figure minus insurance costs would have been $127 million, reported.
Under new CEO David Risher, who assumed the role last month, Lyft might once again eliminate its own shared-rides service in an effort to become more profitable, per .
Related: Report: Uber, Lyft Drivers Face Suspensions, Discrimination
Uber is up more than 30% year over year; Lyft is down more than 50% over the same period.
