Published: Tue, November 14, 2017
Markets | By Noel Gibbs

Lyft will launch in Toronto in its first push outside the US

Lyft will launch in Toronto in its first push outside the US

From a tactical point of view, now might be a really good time for Lyft to go worldwide due to the state of its beleaguered rival, Uber.

Lyft is now in the process of signing up enough local drivers in Canada in order to properly operate in the area.

The ride-hailing war between Uber and Lyft is moving global for the first time, with Lyft soon offering rides in Toronto, its expansion outside the US. This puts a damper on Lyft's earlier plans to break even in 2018, but they're hoping their strategy will eventually help them prevail over their rival.

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"Lyft has grown considerably this past year, and Toronto was a no brainer for the company's first worldwide launch".

Bloomberg also analyzed a private Lyft investor document, which shows that the company has been increasing spending in an effort "to take advantage of Uber's weaker position".

Houghton wouldn't say if Lyft will expand to other Canadian cities or if Quebec's provisions would prompt it to avoid the province.

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In addition to Lyft, another ride-hailing service called Facedrive Inc. launched last week in Toronto.

Uber Canada said in a statement Monday it also welcomes the competition. It's a smaller company and Toronto would be its first non-American city, but it has been praised by some for its more rigorous driver training and for generally avoiding the types of scandals that have dogged Uber over the past year.

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