Uber shares jumped 4 percent this week after the ride sharing giant announced an agreement to list New York City taxis on its app.
On Thursday, Uber announced it had reached a deal with two taxi-hailing apps, Curb and Creative Mobile Technologies, to integrate the apps and list NYC taxis on the Uber app. Uber users will now be able to hail a yellow cab using the app from anywhere in the five boroughs.
“This is a real win for drivers – no longer do they have to worry about finding a fare during off peak times or getting a street hail back to Manhattan when in the outer boroughs,” said Uber Director of Business Development, Guy Peterson. “And this is a real win for riders who will now have access to thousands of yellow taxis in the Uber app.”
The move comes on the heels of a major driver shortage in the ride sharing industry, fueled largely by COVID-19 and the resulting lack of travel. It also brings the contentious relationship between Uber and taxi companies to a low simmer after years of bitter rivalry.
Uber CEO Dara Khosrowshahi said last month she hopes to bring taxis in every major city on to the Uber app by 2025.
ARTICLE: LAURA SPIVAK
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: YAHOO NEWS
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