Globe Trot­ter

Uber Needs to Watch Out for Pink Mus­tache

The Economic Times - - Disruption: -

At Amer­ica’s top land­marks you’ll find peo­ple in pink, mus­tache T-shirts hand­ing out $50 Lyft ride vouch­ers. Lyft has also been run­ning gi­ant bill­boards in Times Square and on bus stops. All th­ese pro­mo­tions are not cheap. In Jan­uary, Lyft said it raised $1 b, which is help­ing fuel the spend­ing spree and steal mar­ket share from Uber. To keep costs in check, Lyft has promised in­vestors to cap its losses at no more than $50 mil­lion a month. — Bloomberg

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