Starting in December, Lyft will begin operating in Toronto, marking the ride-hailing service’s first trek onto international roads.
Lyft’s US numbers have proven that it’s time for the company to move North of the border. After growing their availability from 54% to 95% of the US population this year, the service is on pace to take over a third of the ride-hailing market.
It all seems to be falling into place
What with Uber’s recent laundry list of corporate follies, Lyft has moved forward without a hitch, capitalizing at every left and right-hand turn.
This deal comes shortly after Lyft received a $1B round of funding from Alphabet’s CapitalG fund, the ride-hailing service’s biggest round yet, now placing them at an $11B valuation.
Aside from the new cash stash, they’ve also recently landed a handful of partnerships with big boy automakers and tech companies in order to join the fully-automated vehicle craze.
Lyft has killed it this year
While that isn’t up for debate, they still trail Uber in terms of reach and valuation, but ‘slow and steady’ has seemed to work out for Lyft thus far, and right now Toronto is their focus.
But be warned, Lyft: Uber’s new golden boy, Khosrowshahi, is gunnin’ down the road in an off-duty, black Prius, sniffing out your every move.
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