Uber, Lyft Find Big Bucks Selling Ads
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
Ride-sharing has taken Uber and Lyft only so far. Both believe their futures will be a lot brighter by sharing data on their passengers.
After years and years of struggling to turn consistent profits as people-movers (and food deliverers), the ride-share leaders realized their apps were perfect vehicles to drive in-house advertising businesses. It's a tale nearly as old as Silicon Valley: When all else fails, there's always money to be made sharing user data (especially ultra-valuable location-specific data) with the mad men on Madison Avenue.
Source Fool.com
