Investing for growth is a strategy that pays dividends — eventually. Maybe. But once the cash is spent, once the dollars allocated toward marketing, product development — you name it — what comes as return on investment, especially for the ride-hailing companies, might be less...
The ranks of Lyft’s Active Riders increased by over 3.6 million from the prior quarter — demand for the ridesharing platform continued to rise even as reported COVID case counts were on the uptick. Brian Roberts, Lyft’s chief financial officer, noted that the year-over-year revenue...
Uber and Lyft have finally started to see riders return to the on-demand transportation service, but that bounceback could be short-lived if the Delta variant of the coronavirus continues its surge and drivers continue to resist a return to sharing their vehicles with passengers who...
Uber is partnering with Rosetta Stone to help their drivers and delivery people learn more languages for free, a company release said Thursday (July 29). The release said Rosetta will be integrated with Uber’s Driver app and will allow drivers and delivery people the ability...
Uber’s stake in Didi shrank by $2 billion this week amid China’s crackdown on U.S. listings. In less than one month, the ride-hail giant’s one-time $9.4 billion stake in the Chinese ride-hailing giant dropped by half, CNBC reported on Friday (July 23). Didi debuted on...
Uber is in the news again this week after announcing plans to double up on grocery delivery via a new partnership with supermarket chain Albertsons that will add 1,200 stores to its platform. As a result, Uber Eats will now be available in 400 U.S....
With cities around the country easing their COVID restrictions, Lyft has reintroduced shared rides, its lowest-cost ride option, in three U.S. cities. The feature will roll out in Philadelphia, Chicago and Denver, with more cities to follow, the ride-hailing service said on Thursday (July 15)....
Chinese regulators, including the Cyberspace Administration of China, mandated that app stores in the country delete 25 apps relating to ride-hail platform Didi, including its financial services application and its carpool app, the Wall Street Journal reported on Friday (July 9). Regulators indicated the removal...
Chinese regulators forced Tencent’s WeChat messaging service and Ant Group’s Alipay to remove Didi from its app interface and rendered Didi no longer searchable in app stores in the country, CNBC reported on Wednesday (July 7). Through the super apps, WeChat and AliPay users were...
