Lyft is testing a new subscription-based feature called Price Lock to combat surge pricing by offering capped fares on specific routes at specific times.
"We are going to open up a can of whoop ass on primetime," CEO David Risher said emphasizing the aim to combat surge pricing.
The subscription for Price Lock will cost under $5 monthly, part of Lyft's effort to reduce the number of rides impacted by surge pricing.
Compared to the first quarter, the number of rides impacted by surge pricing was down 25%, contributing to better conversion rates.
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