Uber prices are still way up, so the company is bringing back carpooling

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Uber is preparing to relaunch its carpooling service as a way to combat price increases, officials said in a call with investors. Uber Pool was shuttered in March 2020 in response to the COVID-19 pandemic and remained so even as vaccines became widely available and customers returned to the app.

But that could soon change, according to Uber CEO Dara Khosrowshahi, who hinted that a new shared rides product could be released soon. Along with its rival Lyft, Uber has been struggling to recover from the pandemic, as drivers fled the platform, wait times increased, and the cost of rides soared.

“We are launching an Uber shared pool product,” Khosrowshahi said. “We have been investing for years in a high-capacity product, which is looking...