Uber said on Tuesday that it started offering a subscription service, called Ride Pass, that allows users to guarantee set prices for a monthly fee.
The service is available in Los Angeles, Austin, Orlando, Denver, and Miami, an Uber representative told Business Insider, adding that it costs $24.99 a month in Los Angeles and $14.99 a month in the other four cities.
Ride Pass subscribers' fares will be determined based on historical data and won't change based on demand or other circumstances, according to The Verge, which reported that subscribers could use the preset rates for an unlimited number of rides each month.
An Uber representative said the service wouldn't affect driver compensation, as drivers will earn the same rate they would driving a passenger who does not subscribe to Ride Pass.
Lyft also this month launched a subscription service, called the All-Access Plan, which costs $299 a month and gives users 30 rides worth up to $15 each. If a ride costs more than $15, the user pays the difference.
Uber CEO Dara Khosrowshahi has said the company intends to go public next year in what could be one of the tech industry's biggest initial public offerings. The Wall Street Journal reported this month that Uber could be valued as high as $120 billion.
