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.
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Lyft Details
Operating Status:Active
Business TypePrivate
HeadquartersSan Francisco, California, United States
Amazon.com Inc is finalizing its acquisition deal with robotic car company Zoox. The acquisition that is projected to be worth $1 billion is Amazon’s debut into car manufacturing. AMZN stock is up.
Uber reported one of its worst quarterly performances during Q1 2020 registering a net loss of $2.9 billion. With its business going on a tailspin due to the global lockdown, the company plans to trim 17% of its workforce this year. Uber stock price is going up.
Lyft stock price started to rise yesterday after hours when the company revealed its Q1 report. The numbers are still not very impressive but Lyft is doing better than expected.
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