
The verdict has helped bolster the recovery of both Uber and Lyft stocks in the pre-market today.
Lyft designs, markets, and operates a mobile application that matches drivers with passengers who request rides.
Lyft, Inc. is a transportation network company (TNC) based in San Francisco, California and operating in 640 cities in the United States and 9 cities in Canada. It develops, markets, and operates the Lyft mobile app, offering car rides, scooters, and a bicycle-sharing system.
Lyft is the second-largest TNC with a 30% market share in the United States, according to Second Measure.
Most jurisdictions regulate TNCs and TNCs are banned from operating in some jurisdictions. For more information, see Legality of TNCs by jurisdiction.
The verdict has helped bolster the recovery of both Uber and Lyft stocks in the pre-market today.
Lyft expects to realize about $975 million in revenue in fiscal Q1 2023.
The partnership between Uber and Motional will not be the first time the latter startup has inked a similar partnership with other ride-hailing giants such as Lyft and Via Networks.