Uber is expanding its services with ‘Uber Voucher.’  The new scheme will be aimed at businesses in an attempt to expand its B2B market.

Businesses will be able to offer discounted or free rides for customers.

Uber said:

“Companies can create customized Voucher campaigns and programs within a specified budget, set pick-up and drop-off locations, and an established time for an offer. All details can be tailored to an event, promotion or service. Businesses can send vouchers to their customers through email, social media and mobile messaging.”

The scheme will be available in cities where Uber already operates.

The company said businesses will only pay for the number of rides redeemed under the program, plus whatever administrative fees are applicable.

“When a rider redeems a Voucher, it is added automatically into the Payment section of the rider’s Uber app until it expires. Customers who receive a Voucher can apply it directly to their existing Uber account or will be prompted to download the app to redeem the discounted trip,” Uber said. “A dedicated dashboard shows businesses how many Vouchers are redeemed and allows them to export anonymized trip information streamline reporting and billing.”

Companies that usually offer shuttle cars or rentals can use Uber instead, and bars can give “designated driver” discounts to drinking customers. Sports teams could potentially bundle rides with other fans to go see a game.
If businesses want to sign up for the service they can do so at ​uber.com/vouchers.

The new voucher scheme launches just as Uber is expected to announce its initial public offering (IPO) later this month.

Uber Technologies has decided it will seek to sell around $10 billion worth of stock in its initial public offering and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday.

An IPO of this size would make Uber one of the biggest technology IPOs of all time, and the largest since that of Chinese e-commerce giant Alibaba Group Holding in 2014.

Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft’s shares following its IPO late last month, the sources said. Investment bankers previously told Uber it could be worth as much as $120 billion.

Uber voucher