Wednesday, November 26, 2014

Uber's Woes Could Be A Boon For Lyft

Lyft says it had a record number of rides last week, while Uber's rumored to get record financing.

It would be an understatement to say last week was not a good one for Uber. Its CEO made callous remarks about customer privacy, sparking a firestorm of bad publicity and reports on the company's "frat house ideology" and trust problem. Then one of its execs was loose-lipped about plans to dig up dirt on Uber critics, prompting a user-generated campaign to delete the app. Not surprisingly, bad news for Uber appears to be good news for competitor Lyft, which claims it gave a record number of rides last week, Venture Beat reported.

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