This post was originally published on this site
Uber Technologies Inc. announced Tuesday that it would be offering 10 million free rides and food deliveries to those in need during the COVID-19 outbreak.
Those eligible for the benefit include healthcare workers, senior citizens, and others who need assistance. Uber UBER, -9.31% announced in a blog post that food banks, hospitals, and other agencies looking for support can contact the company about the program.
Uber has seen a sharp decline in ridership as the novel coronavirus outbreak has forced many cities into lockdown. Chief Executive Dara Khosrowshahi disclosed on March 19 that the company had seen a roughly 60% to 70% drop in bookings at the time in markets like Seattle that were among the first U.S. regions to feel the effects of COVID-19.
The company previously announced offers of free rides and meals for first responders on a somewhat more limited basis. Uber also temporarily suspended its Uber Pool service that lets customers share rides with strangers who are going to nearby destinations.
Rival Lyft Inc. LYFT, -11.32% announced on March 20 that it was “donating tens of thousands of rides to those with essential transportation needs during the coronavirus pandemic.” A company spokesperson recently said that Lyft is partnering with ShopRite Super Markets in Philadelphia and New Jersey to give seniors free ride credits to visit the store during designated senior hours. Lyft is also offering rides to elderly caregivers who need to get supplies.
Lyft shares are off 10% in Wednesday’s session, while Uber’s stock is down 8%. Lyft shares have lost 37% over the past month, while Uber’s stock has fallen 24% and the S&P 500 SPX, -4.19% has dropped 16%.
