Uber Enters an Agreement to Offer New York City Taxis on its App

Mar 24, 2022 By MarketDepth

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Uber (NYSE: UBER) has entered an agreement to offer New York City taxis on its app. Taxi-hailing apps, Curb and Creative Mobile Technologies, will merge their software with Uber, granting users access to book taxi rides within the Uber app, according to the companies. Uber shares shot up over 5% during premarket trading upon the news.

“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. And this is a real win for riders who will now have access to thousands of yellow taxis in the Uber app.”

Guy Peterson, Uber’s director of business development

The partnership symbolizes a massive shift following years of animosity between cab drivers and the ride-sharing industry. Yellow cab companies expect the deal to aid the city amid ongoing pandemic restrictions, driver shortages and increased gas prices.

“Our partnership with Uber is a natural step forward in the expansion of ground mobility and, as a driver-first company, we will remain committed to our taxi drivers and fleets as we work with Uber to generate enhanced stability and financial wellness for members of the taxi industry.”

Amos Tamam, CEO of Curb