Tue. Oct 19th, 2021

LAFT predicts drivers will dig into delivery applications and return to ride-sharing as passenger demand increases as the lockdown ends, claiming drivers missed the “camerawork and meaningful interactions” that come with transporting people instead of food.

The company’s latest earnings – unlike its rival Uber, which has no food catering app of its own – have shown that it continues to fight to attract drivers.

John Zimmer, president and co-founder of Lift, said the demand for riders had been readily available to drivers since the end of February – a problem also faced by Uber, Announced a 250 250 million “stimulus” grant Last month for drivers

However, he said the expiration of the federal unemployment benefit in the third quarter would also help solve the problem, as it would return to normal life from the continued rollout of vaccinations.

Zimmer argued that as demand returns, Rideshare represents a better deal for workers than food supplies, adding that “Riders also have a fundamentally different experience with social communication that is largely absent from food supplies.

“After a year of social distance, drivers are telling us they want these in private conversations. They miss the camerawork and meaningful interaction they had while using the elevator, ”he said.

The elevator says customers are willing to pay more, costing drivers the necessary additions to get back on the road.

The number of passengers using the platform increased by 6 percent in the first quarter of 2021 over the previous three months, although both epidemics and empire were less than one-third at pre-epidemic levels.

According to Factset, during the January-March period, the elevator earned 36 609 million, down 36 percent from the same period last year, but according to Factset, Wall Street’s tes are stronger than the 558 million estimate.

Lift said Lift’s net loss for the quarter was worse than expected at ৩ 427 million, compared to expectations of ৩ 20,320 million, although there was a loss of more than ০০ 600 million in one-off payments, Lift said. It includes 2019 180.7 million in stock compensation related to its 2019 initial public offering.

The company’s consolidated Ebitda loss was $ 73 million, a strong improvement over what analysts had expected and the lowest Ebitda loss since the company went public.

The company’s goal of making Ebitder profits in the second half of this year depends on balancing the supply of drivers to hit.

The agency said the ongoing mismatch meant drivers who returned in April had to increase the earnings of returning drivers with an income of $ 30 per hour before spending in the top 25 markets.

Lift’s share price rose more than five percent in trading hours later.

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