Mobility

Business • Economy
Lyft reports 26% growth in rides for May compared to April
Lyft reports 26% growth in rides for May compared to April
Credit: Austin Distel

Lyft announced today that rides on the platform grew 26% in May compared to the previous month. Still, the company said rides are down about 70% compared to May 2019.

After the announcement, Lyft shares rose more than 4%.

Business • Economy
Uber sends thousands of JUMP bikes to the scrapheap
Jump Electric Bike by Uber, Parked on the Street
Jump Electric Bike by Uber, Parked on the Street Credit: Ehimetalor Akhere Unuabona

Uber is sending tens of thousands of its electric Jump bikes to the scrapyard, weeks after offloading the money-losing bike-share division on Lime.

“We explored donating the remaining, older-model bikes, but given many significant issues — including maintenance, liability, safety concerns, and a lack of consumer-grade charging equipment — we decided the best approach was to responsibly recycle them,” Uber said in a statement to NBC.