Lyft ditches surge pricing to steal Uber’s customers - Games True

Lyft ditches surge pricing to steal Uber’s customers

Lyft is ditching surge pricing to attract more customers, but it’s not going as smoothly as planned. The rideshare company is trying to undercut its main competitor, Uber, by lowering prices. CEO David Risher admitted that riders despise surge pricing and they’re working to eliminate it completely.

Lyft’s second quarter earnings showed an increase in riders, but revenue per rider dropped. Despite this, investors weren’t impressed and Lyft’s share price took a hit. The company aims to reduce the number of customers experiencing surge pricing by 35% and eventually eliminate it entirely.

Uber, Lyft’s biggest rival, has been in hot water for its expensive fares. Uber’s CEO was shocked by the high cost of a short ride in NYC. Maybe now is the right time for Lyft to become more affordable.

Topics: Uber, Lyft

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