OBI RIDESHARE DATA POWERS GROUNDBREAKING BLOOMBERG REPORT ON NEW YORK CITY DRIVER LOCKOUTS AND SURGE PRICING

NEW YORK, Oct. 30, 2024 /PRNewswire/ -- Obi, the global real-time aggregator for rideshares, collaborated with Bloomberg over several months to help produce a groundbreaking report on the New York City driver lockouts from Uber and Lyft.

Utilizing Obi's Intelligent Pricing API, Bloomberg examines how the city's unique pay formula created a perverse incentive for Uber and Lyft to prevent drivers from logging on, even during periods of high demand.

The extensive Bloomberg feature entitled "How Uber and Lyft Used a Loophole to Deny NYC Drivers Millions in Pay" was the result of months of collaboration between Obi and Bloomberg, with Obi supplying hundreds of thousands of data points from its Intelligent Pricing API. Analysis of this data enabled Bloomberg to report that drivers were being locked out of surge zones, driving the cost of pricing up for consumers by reducing driver supply in the market.

"Obi's understanding of the rideshare market is highly nuanced as we can see real-time pricing via our consumer user base on a global scale. The algorithms used to set prices are a black box for consumers and for drivers," said Obi Chief Revenue Officer, Ashwini Anburajan.

Obi's Intelligent Pricing API enabled Bloomberg News to designate a fixed set of 83 randomly selected addresses in Manhattan, Brooklyn, Queens and the Bronx. This number was chosen to maximize coverage throughout the city, while minimizing the burden of data collection.

"Bloomberg approached Obi knowing we were the only organization that could provide the detailed ride data for their investigation," noted Obi Chief Revenue Officer, Ashwini Anburajan. "Obi's mission is to help improve pricing transparency in the rideshare market and this is just one example of how our Intelligent Pricing API product can help drivers and consumers alike in exposing complex yet potentially adverse pricing strategies."

You can read more about Bloomberg's methodology and use of Obi's data here. A global picture of surge pricing and rideshare pricing can be found in Obi's Global rideshare report.

With the help of Obi's data, Bloomberg's investigative piece was able to conclude: "by making drivers seem busier on paper, the companies set themselves up to save as much as hundreds of millions of dollars in driver payouts, according to Bloomberg estimates — all while telling the drivers, falsely, that the lockouts were required because of the law."

Learn more at rideobi.com/Bloomberg

About Obi:

Obi is a global real-time aggregator that compares millions of pricing and pick-up (ETA) data points, providing consumers and businesses with actionable insights. The free Obi app allows riders to compare taxis, black cars, and major rideshare providers instantly. With over 700,000 users, Obi partners with numerous rideshare and taxi providers worldwide to ensure transparency in ride fares. The app is available for free download on iOS and Android.

SOURCE Obi