The second most popular ride-hailing company in the United States, Lyft is set to go international. It is taking up Toronto as its first international spot. The services of the company will be made available to the residents of Toronto before the incoming holiday season. The announcement for this operation was made on Monday. With so many scandals that have revolved around Uber, the most famous hail-riding company, Lyft has taken advantage and established itself. It is set to go public in the year 2018. It is also readying itself to raising a total of $1 billion in finance as it receives support from CapitalG and Alphabets venture investment arm. The fact that Lyft has taken its expansion to Canada implies that it is ready to continue challenging Uber. In September, Lyft agreed to partner with Ford Motor Company to come up with vehicles that have autonomous design and technology and also coming up with a research facility in Palo Alto Calif.
According to the chief executive officer of Lyft Logan Green, the operations in Toronto, Canada are set to begin next month. He went ahead to reveal how his company has contemplated going international for some months now. The culture, values, and services that are offered by Lyft will suit Toronto perfectly. While speaking to the Toronto Star, John Zimmer the company’s president and co-founder expressed his optimism that Toronto will be part of the five largest markets for Lyft. A 20 percent bonus will be given to the first 3,000 drivers that will make 20 rides a week within the first three months of Lyft’s operation in Toronto. The residents of the suburbs and areas near Hamilton, Ontario will benefit from Lyft’s services.
Professor Shauna Brail, the director of urban studies program at the University of Toronto, says that the impact of Lyft’s operation in Toronto is still unclear, considering that Uber has faced a lot of resistance, especially from the taxi industry. At one time, Uber was confronted with a lawsuit seeking its ban in Toronto, but the Ontario Supreme Court denied the request. According to a document that was published by Transport for London, Lyft has had several meetings with the London transport officials. The meeting began to be conducted after Uber’s license was revoked in this city. Lyft has also presented its business model, indicating the possibility of expanding its operations in London.
