Science

Lyft is expanding to Toronto, its first global city

Lyft is expanding to Toronto, its first global city

United States ride-sharing startup Lyft said Monday it is launching next month in Toronto, the first city in what is expected to be an global expansion for the Uber rival.

This year, Lyft ate into Uber's marketshare nationally causing the ride-hail behemoth's hold on the U.S.to fall from 84 percent to 73 percent.

"We've heard from many Torontonians that they wanted to have Lyft as an option in their city and we're excited to be a part of this community".

No specific launch date was announced but Lyft said it "will be around to help ring in the holidays", presumably before Christmas.

No free higher education, cost-sharing more feasible - Heher Report
After failing to present the report within the 18-month deadline, the commission had its term extended until June 30, 2017. The commission further recommend that government considers the introduction of a university fee capping mechanism.

Last year, city council voted in favour of a package of regulations that effectively legalized ridesharing services in Toronto.

The company, which is in the middle of closing a $1 billion round from Alphabet, has been in hyper growth mode this year, launching in at least 100 additional cities across the US over the last few months. Lyft's chief rival, Uber, is already available throughout the US, Canada, and in several more countries internationally.

On Thursday, he described progress in talks with regulators in London, who in September refused to renew Uber's operating license. In October, Lyft raised $1 billion in funding in a round led by the venture-capital fund of Google parent Alphabet Inc., that gave it a valuation of $11 billion. The company says it is now worth $11bn.

Uber also has been embroiled in a fight in Quebec over the province's rules for ride-hailing services.


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