02:44 PM EDT, 05/15/2024 (MT Newswires) -- Uber Technologies ( UBER ) said Wednesday it will launch a shuttle service in the US and is expanding its delivery partnership with warehouse chain Costco Wholesale ( COST ) .

The ride-hailing company said Uber Shuttle will let users reserve a seat on a local shuttle service for "a fraction of the price" of an UberX. The company's UberX is a private ride option that allows requesting a driver for up to four people at a low price.

"As the official rideshare partner of select Live Nation (LYV) amphitheaters, we'll bring Uber Shuttle to select venues across the country," Uber ( UBER ) Chief Executive Dara Khosrowshahi said in a statement. The company plans to launch the service for sporting events, concerts and airports.

"Looking ahead, we're excited to work with airports and local officials to bring convenient airport shuttle service to riders in cities throughout the world," Khosrowshahi said.

Uber ( UBER ) will offer Costco members in the US ordering through Uber Eats additional discounts on their orders, as well as 20% off on the annual Uber One membership, Beryl Sanders, director of grocery and retail partnerships at Uber ( UBER ), said during the company's Go-Get 2024 event Wednesday. Costco is now available on Uber Eats in select locations in the US, Canada, Mexico and Japan, with "more to come," Sanders said.

Uber ( UBER ) shares were up 1.4% in Wednesday afternoon trade, while Costco rose by the same percentage. Costco didn't respond to MT Newswires' request for comment.

Uber ( UBER ) said it is launching a new feature allowing users to schedule a shared ride in advance, helping them save an average of 25%, compared with UberX. The company will offer its Uber One membership program to college students at half the price, amounting to $4.99 a month or $48 annually.

The company is also launching a feature that will allow caregivers to book rides to doctor appointments and buy medical supplies for those receiving care.

On Monday, Uber ( UBER ) finalized a $1.25 billion agreement to invest in Germany-based Delivery Hero and acquire its Foodpanda business in Taiwan.

Earlier this month, Uber ( UBER ) posted an unexpected first-quarter loss weighed down by its equity investments, while its gross bookings fell short of analysts' estimates.

Price: 66.27, Change: +0.95, Percent Change: +1.45