Hail Lower Fares in SF With Uber
Effective this week, UberX prices are 10 percent lower than taxi prices in its flagship city of San Francisco, according to a blog post from the company. UberX at cheaper-than-taxi pricing means $8 from FiDi to AT&T Park, $15 from the Marina to the Mission and $50 from North Beach to SFO, the company said. "It means a single, cost-effective solution for dependable pickups in minutes, 24 hours a day, all over the Bay," the blog post said. As competition in the taxi app space intensifies, the price war could extend to additional cities.
Aereo Says Cord-Cutting on the Way
Aereo CEO Chet Kanojia said the unraveling of the cable bundle is "inevitable," in an appearance on CNBC. He added that this creates a "monopolistic situation" that "holds you hostage" for a handful of channels. "Nowhere in the world does that system function."
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"It's not lost on everybody that the market is shifting. It's inevitable that consumption of this form of entertainment—television—is going to be on the Internet," he said. "At some point, this has to break, with or without Aereo."
Aereo is launching its service in Atlanta on Monday, June 17.
Square Stands Firm Against Competition
Square said it plans next month to release what it calls Square Stand, which incorporates a built-in card reader that attaches to an iPad and a USB hub that connects to accessories such as a cash drawer, receipt printer and scanner. Competition with rivals in the mobile payment market, from PayPal to brick-and-mortar banks like Bank of America, is heating up.
In the biggest news of the week involving the CNBC Disruptor 50 companies, Googleannounced its acquisition of Waze.
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