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Posts Tagged ‘ride sharing news’

Lyft Tracking to Double Ridership in 2017

Company adds former Obama adviser Jarrett to board.

by on Aug.02, 2017

Valerie Jarrett, a former adviser to the Obama Administration, has joined the Lyft board of directors.

Lyft has carried more passengers during the first six months of 2017 than in all of 2016, according to new statistics released by the company, which has succeeded in spreading its service to dozens of additional cities in the U.S. and capitalizes on a goody-two-shoes image that has separated it from archrival Uber.

The company noted it has expanded into 360 communities and that 80% of the U.S. population can use the service now.

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Ridership at Uber, the leader in ride-sharing services, continues to dwarf Lyft’s, which recorded 162.5 million customer trips through the end of June. Uber has reported that it has given more than 5 billion rides worldwide since 2010. (more…)

Ride-Sharing Giant Uber Posts King-Size Loss

Deficit is nearly half its total Q3 revenues.

by on Dec.20, 2016

Uber posted an $800 million loss in the last quarter on revenue of $1.7 billion.

U.S. ride-sharing leader Uber posted an $800 million loss for the third quarter on $1.7 billion in revenues, a loss actually lowered by the company’s decision to sell off its unprofitable Chinese operations.

Despite a modest profit during the first quarter, Uber’s losses came to $2.2 billion for the first nine months of 2016. But the company’s revenues have also continued to grow as more users discover the service. Net revenues for the third quarter hit $1.7 billion – excluding payments to drivers – and $3.76 billion through the end of September. A report by Bloomberg estimates Uber is targeting $5.5 billion for all of 2016.

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Uber exited China earlier this year, selling off its money-losing operations there to local competitor Did Chuxing. But The San Francisco-based ride-sharing firm is continuing to run deep in the red in the U.S., in part due to increased competition from Lyft and other ride-sharing services. (more…)

Uber Making Rides Safer with Selfie Security

Facial recognition software makes match possible.

by on Sep.23, 2016

Uber is now using facial recognition software to ensure the driver picking up riders is actually the driver on the Uber profile.

Uber is upping its game when it comes to the safety of its drivers and riders with a new system that requires drivers to confirm their identity before each shift by taking a selfie.

Called Real-Time ID Check the selfie taken is matched to a photo on file to ensure the driver providing rides is actually driver on the account. While the incidence of driver identities being stolen is pretty low, the results in the rare instance it does happen could be disastrous, Uber officials noted.

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During a trial run with “thousands of drivers” more than 99% of drivers using the system were able to match their selfie to their on-file photo. Officials note that in the cases where there was a problem, most of the time it was related to the quality of the selfie, such as a picture taken in low light. (more…)

Lyft Founder Predicts Death of Car Ownership by 2025

Zimmer believes people in large cities will give up having a car.

by on Sep.22, 2016

Lyft co-founder John Zimmer, right, suggests that car ownership could be extinct in large cities by 2025.

The idea or concept of privately owned cars in trucks is headed for history’s scrap heap, according to the co-founder of the ride-sharing service Lyft.

John Zimmer, Lyft’s co-founder, predicted in a blog post this week that private ownership of cars could disappear from some major cities as soon as 2025. He noted that the what it costs to own a car, i.e. fuel, maintenance, insurance, parking, etc., is just more than some folks want to deal with.

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“As a country, we’ve long celebrated cars as symbols of freedom and identity. But for many people — especially millennials — this doesn’t ring true. We see car ownership as a burden,” he wrote, observing that statistics show that for the average American the cost of car ownership runs approximately $9,000. (more…)

Tata Teams Up with Uber in India

Drivers can get special pricing, financing and insurance from Tata.

by on Jun.29, 2016

Ratan Tata's Tata Motors announced a new partnership with Uber in India. The deal will give drivers special pricing and financing on Tata cars.

India’s influential and multi-faceted Tata Group it’s partnering with Uber Technologies, the growing ride-sharing giant, to provide Uber drivers with special pricing and financing benefits from the giant conglomerate.

Under the partnership, drivers looking to operate Uber cars can buy Tata vehicles such as the Indica and Indigo models from Tata Motors and also gain access to flexible and customized financing solutions from Tata Capital and Tata Motors Finance.

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The drivers will also be able to buy insurance from Tata AIG, said Madhu Kannan, member-Group Executive Council and group head for business development and public affairs for Tata Sons. (more…)

BMW Gets Scoop of Ride-Sharing App

Automakers continue scrambling to get piece of ride-sharing pie.

by on May.26, 2016

BMW now has skin in the ride-sharing game with its investment in California-based Scoop. The terms of the deal were not announced.

BMW has joined the list of automakers investing in car sharing and ride sharing apps.

BMW i Ventures, the German luxury carmaker’s New York-based venture capital fund, has announced a strategic investment of an undisclosed size in San Francisco Scoop Technologies, Inc., creators of the carpooling mobile application “Scoop.”

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Since launching in August 2015, Scoop commuters have taken more than 40,000 trips, offsetting nearly 500,000 in commute mileage for riders. Originally launched in Pleasanton, California, Scoop now also operates commute trips into San Francisco, Palo Alto, Sunnyvale and North San Jose, California. (more…)

Apple Invests $1B in Chinese Ride-Sharing Company Didi

Tech giant extending reach into auto industry.

by on May.13, 2016

Apple invested $1 billion in China's Didi, a ride-sharing company that competes with UberChina.

Didi Chuxing Technology Co. said Friday it reached an agreement with Apple to make a strategic investment in the Chinese ride-hailing company, according to the MarketWatch.com. Didi also is significant investor in Lyft of San Francisco as is General Motors.

Earlier this year, GM invested $500 million in a strategic alliance Lyft. “We see tremendous potential in these technologies and the long-term benefits for our customers and communities around the world,” noted GM Chairman and CEO Mary Barra in the automaker’s “Sustainability” report.

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Apple CEO Tim Cook has indicated that Apple is interested in taking a leading role in what is shaping up to be a significant shift in the car business. In addition, the revenue potential in the automobile business is too large for a company such as Apple to ignore, analysts suggest. (more…)

GM, Lyft Preparing Autonomous Fleet Testing?

Automaker may push to use Bolt EV for self-driving fleets.

by on May.05, 2016

Could this be the first approved autonomous vehicle on U.S. roadways? GM prepped the new Bolt EV to accept self-driving technology.

It appears that Google won’t be the only company looking to test autonomous vehicles on U.S. roads, General Motors and Lyft may be looking to put several self-drivers into service in the months ahead.

The two companies are planning to test a fleet of autonomous vehicles that will likely include the new Chevrolet Bolt EV as they move forward with their efforts to create a driverless ride-sharing fleet of cars, according to multiple news reports.

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No cities or vehicles beyond the possibility of the Volt have been selected, according to multiple reports. The Bolt would likely be part of the plans as the EV was designed to be used for testing fully autonomous technologies. (more…)

GM and Lyft Launch Short-Term Rental Program for Drivers

Express Drive seen as way to get new GM models on the road.

by on Mar.15, 2016

GM's new program with Lyft will allow drivers to rent a Chevy Equinox for $99 a week, but the plan is to roll the new Volt into that line-up.

General Motors will partner with Lyft, the nation’s second-largest ride-sharing service, to let drivers rent one of its vehicles at a relatively low price.

The program will begin in Chicago later this month and initially will focus on Chevrolet Equinox SUVs. But GM is also expected to use Lyft as a way to get the new Chevy Bolt battery-electric vehicle onto the street when it goes into production later this year.

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The new program comes just months after the Detroit automaker announced it would invest $500 million into Lyft, and GM President Dan Ammann said, “We’re very pleased with how quickly the GM and Lyft team collaborated to create the Express Drive program, which we will be implementing using our Maven mobility infrastructure.” (more…)

GM Adds Sidecar to Ride-Sharing Investments

Automakers looking to get ahead in personal mobility race.

by on Jan.19, 2016

General Motors purchased Sidecar, an app-based ride-sharing service in eight cities in the U.S.

General Motors appears to be getting more than just a Lyft, it’s getting a Sidecar too. The automaker bought the assets of the defunct Sidecar Technologies Inc., a ride-sharing company that halted operations last month.

The move comes just two weeks after automaker invested $500 million in Lyft, another ride-sharing company, saying at the time it was looking to expand its reach into the urban mobility realm, but suggesting that would be the end of its check-writing.

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The addition of Sidecar, which includes 20 employees, including co-founder and chief technology officer Jahan Khanna, for less than the $39 million Sidecar was able raise in an attempt to compete with Lyft and Uber, according to Bloomberg, gives the company a few more resources. Sidecar not only offered ride-sharing services, but B2B delivery services as well. (more…)