Higher fares may be down the road for Uber and Lyft customers after the ride-hailing services’ IPOs
The initial public offerings of Uber Technologies Inc. and rival Lyft Inc. stand to enrich early investors. But for customers of these ride-hailing services, the IPOs might eventually cost them money.
Uber and Lyft have battled each other for years in a price war that wildly undercut taxicab fares, thanks to billions of dollars in venture capital that subsidized the lower prices and supported the companies’ massive losses.With Lyft making its Wall Street debut, WSJ's Lee Hawkins outlines the three biggest challenges the ride-hailing service will face in the next 12 months.
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