Uber has been a controversial prescence on the London taxi and minicab market (Laura Dale/PA)
(Picture: PA Archive)The importance of Uber’s battle for a place in London’s competitive taxi and private hire market was highlighted as the US company reported the first positive quarterly cashflow in its history on Tuesday.
As part of its latest update for investors, the ride-hailing app said a “change in the business model for our UK Mobility business” contributed to a “$983 million revenue benefit” which came after a court ruling that the company was the official transportation provider to its users, rather than a middle man taking a cut from fares. The change means the company can book the entirety of fares charged in the UK there as its revenue.
