Uber Technologies Inc. will list New York’s yellow taxis on its app, the first alliance of its kind in the U.S. and an effort to ease a driver shortage and pressure on fares. Uber’s shares jumped 5%.
The ride-hailing giant reached a deal with the New York City Taxi & Limousine Commission’s technology partners, Creative Mobile Technologies and Curb Mobility, the companies announced in separate statements. Their apps, Curb and Arro, power the vast majority of the city’s yellow taxis and will now allow riders to book trips in taxis through the Uber app.
The partnership will be piloted in the spring and roll out more widely in the summer. Uber rose to $34.73 as the market opened in New York on Thursday.
Subscribe to Ad Age now for the latest industry news and analysis.
“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,” said Guy Peterson, Uber’s director of business development. “And this is a real win for riders who will now have access to thousands of yellow taxis in the Uber app.”