With Uber’s popularity gradually going downhill, its competitors are using this as an opportunity to establish a strong position in the market. This is because Uber has been the biggest name among ride-hailing firms for a while now. A number of companies tried to overtake it but got stuck at the second position. It seems that Uber’s loss is someone else’s gain. Here, Lyft is the one who is making the most of the opportunity. Uber has had great customer support, especially in the U.S. even though it functions in a number of other countries as well. On the other hand, Lyft only functions in U.S. and was constantly trying hard to expand itself. The efforts have finally paid off and the ride-hailing firm is all set to go international.
Despite having immense competition, this company managed to earn a reputation for itself in the U.S. The company then decided to go a step forward and expand its market in another country as well. Taking this into consideration, the ride-hailing firm announced that it will start operating in the country of Canada. According to an official announcement made on Monday, one will witness Lyft cabs in the new country from December itself. This decision was taken after the company ruled one-third of the ride-hailing market in the U.S.
Lyft to function in Canada from December
The ride-hailing firm has made a smart move by first testing the waters in the biggest city of Canada, Toronto. People residing in this city, as well as nearby areas, will have access to this cab network. The services offered here will be Lyft Plus, Lyft Premiere, Lyft Lux, and Lyst Lux SUV. This means that the company is offering almost all kinds of services, right from everyday rides to luxurious ones. After this announcement, the formalities to sign up drivers have also begun. The declaration of the charges, as well as driver payout, is yet to take place.
Founded in 2012, Lyft has earned a respectable identity for itself in a short span of time. This is why the company is looking forward to expanding itself on an international basis. And the timing seems just right. This is in context with the downfall of Uber, its competitive rival and a recent funding which the company received. The ride-hailing giant received a funding worth $1 billion in the month of October. It can make the most of this amount by exploring a potential market which will apparently be beneficial for the company.