The spending on driver subsidies and promotional discounts has a significant impact on the financial health of Uber and Lyft. It's a strategy that has caused both companies to burn through a lot of cash. For instance, Uber has reportedly spent over $11 billion since its founding. However, this strategy is also a part of their competition for market share. Despite the heavy spending, Uber announced for the first time in its history that it will be cash-flow positive for the full 2022.
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