Uber looking to grab business from road, rail
In an attempt to be many things to many people, the ride-hailing service Uber Technologies is spreading out from the road to the rails.
The Uber app has a "Transit' option in which customers can buy railroad tickets.
Since 2015, Uber has inked more than 20 transit deals, according to the New York Times.
it is the latest move by the company as it seeks new growth opportunities.
The transit link is the latest business the company is in along with food delivery, helicopters and scooters and bikes.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 69.64 | +0.04 | +0.06% |
| LYFT | LYFT INC. | 16.29 | -0.48 | -2.86% |
Uber has teamed up with transit systems in cities and countries like the U.S., Canada, Britain and Australia to provide tickets.
The city highlighted in the Times article was Denver.
Uber's rival, Lyft has also moved into public transit, making deals, for instance, with the Los Angles Metro in which car pool riders can earn free credits to take public transit.
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Lyft reported quarterly results on Wednesday and saw its shares rise as it beat estimates for second-quarter revenue and said the loss for 2019 would be less than its prior forecast.
Uber reports after the close of the markets on Thursday.