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With great funding comes great pricing power. in an effort to undercut the city’s yellow cabs, Uber said in a blog post on Monday, “We just dropped uberX fares by 20%, making it cheaper than a New York City taxi.” Each time, Uber notes that the price cut is only in effect for a limited time, but suggests that prices may remain low if more riders sign up.

“Uber Cuts Prices In NYC, Claims It’s Now Cheaper Than Taxis” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

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