Tag: Uber
After an earnings report by yellow-cab money lender Medallion Financial Corp. showed profits, financial analysts and the media saw it as a sign that taxis have successfully fended off the threats of app companies like Uber and Lyft. But, according to Crain’s New York, the report doesn’t show us the whole picture. And, when we […]
Despite having a slimy reputation for its privacy issues, surge pricing and sexism, investors believe in Uber. The taxi app has just extended its latest round of investment funding by a billion dollars to a new maximum of $2.8 billion. The New York Times reports that the investor-urged raise came just weeks after their previous […]
With the value of taxi medallions dropping and cries for regulations from leaders in the transit industry, Uber is now going to face more scrutiny from city officials. City Council members will meet with representatives of the private car service on Monday to discuss the legality of its controversial “surge pricing” policy among other issues. […]
As NYC taxi drivers continue to face stiff competition from new services like Uber and the outer borough “green taxi” program, the price of the medallions has dropped considerably. The average price is reportedly $805,000 today, which is a 23% drop from the 2013 peak of $1.05 million. Medallions are essentially a business license for cab drivers. There are a […]
Many pedicab drivers have quit since stricter regulations were put in place, but at least one is still doing it the old school way, ripping off tourists big-time. Ken Smith, 41, says that he and his family took a New Year’s Eve pedicab ride for 15 blocks and when they arrived at their destination, the driver charged […]
New York City councilmembers are pretty pissed with Uber, so it’s not incredibly surprising that one councilman has proposed a free taxi e-hail app that would compete with private companies like Uber and Lyft. Councilman Ben Kallos has proposed legislation that would allow New Yorkers to e-hail yellow and green cabs without worrying about surge […]
San Francisco-based taxi app start-up Uber has come under a lot of scrutiny from all sides recently, with accusations of sexism, breaches of privacy with customer data, and allegations of unfair pay. The multiple controversies have worried New York City councilmembers that Uber is not in compliance with city law, and at a hearing on […]
Uber, the car service and taxi app, hasn’t yet had much of an impact on New York’s yellow cab industry. That might be about to change now that a 20% fare cut will make Uber cheaper than regular taxis reports Tech Times. These price cuts will only be effective for Uber’s cheaper UberX service. Their […]
