That’s the headline on a story out Wed. that I wrote with my colleague Mike Cherney. It begins:
Uber Technologies Inc., fresh from disrupting the taxi industry and leaping into food delivery, is devising a new business strategy ahead of its anticipated public offering: ferrying passengers to and from mass-transit systems.
Last year, the ride-sharing giant created an internal team with a focus on partnerships with local transit officials, a shift for a company that previously had run-ins with regulators as it expanded around the globe. The move comes as Uber seeks to evolve from being primarily a taxi-like service to a wider transportation platform, offering options like electric bikes and scooters—and eventually public bus and train tickets.
The approach could generate significant revenue for Uber, if the company can convince customers to take more Uber trips to and from bus stops or train stations. Finding new revenue is crucial for the cash-burning giant, which has said it doesn’t expect to be profitable for at least three years and faces increasing competition as it plans for an IPO this year.
Click through to read the rest.