The Clap
Uber (NYSE: UBER) reached an agreement to list New York City (NYC) taxis on its app.
The deets
The deal will see the majority of (NYC) taxis (around 14,000 cars & drivers) listed on the Uber app. Uber will take its normal cut as for any Uber X ride, which is around 20%. The feature is expected to launch later this Spring.
Uber wants to list all of the world’s taxis on its app by 2025, according to its CEO.
Why this matters
Uber’s sole reason was to disrupt the traditional taxi industry, & disrupt they did. Taxi drivers around the world have resented the ride-hailing app ever since its launch in 2009. But this move could be beneficial for both parties. Uber is currently facing a shortage of drivers, while taxi drivers still face the life-long issue of finding a fare during off-peak times.
