Uber questioned by US regulator over subscription plan

Published On Nov 28, 2024, 1:36 AM

Uber is under investigation by the US Federal Trade Commission (FTC) regarding its subscription service, Uber One, particularly focusing on its cancellation procedures. The service, which has over 25 million subscribers, offers discounts on rides and deliveries, but the FTC is looking into whether the cancellation process is overly complicated. Uber asserts that cancellations can be easily handled within the app. The investigation follows a new rule from the FTC regarding simple cancellation processes for subscription services.

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Stock Forecasts

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Negative

The ongoing regulatory scrutiny surrounding Uber's subscription service may negatively impact its brand reputation and could lead to further legal complications or the need for policy changes. However, the fact that Uber appears willing to engage with the FTC suggests a potential for settling the matter amicably. Depending on how this situation unfolds, investor sentiment around Uber may turn cautious as they assess the long-term implications on subscriber growth and retention.

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