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Tuesday, October 15, 2019

Tag: lyft

Lyft: Higher fares will help shrink losses for the year

Lyft’s second-quarter loss increased 12% to US$197 million, but the price increases should help narrow losses.

Uber, Lyft and Starbucks among most popular business expenses

'If you’re a taxi owner/operator, you need to find a new business model because this trend is clear and continues to result in fewer taxi rides taken,', says Certify CEO Bob Neveu.

Uber and Lyft to turn the wheels on car ownership

Labour trends like working remotely or from home had contributed to the reduced interest in cars.

Uber escapes Lyft driver’s dirty-tricks lawsuit – for now

Uber managed to dodge a three-year-old lawsuit by a Lyft driver who accuses the ride-hailing corporation of shady dealings. Uber's victory may be short-lived, however.

Rideshare drivers strike as Uber poised to go public

At US$47 a share, Uber would be worth just over US$80 billion, taking into account stock options.

Lyft tries to assure investors that losses will drop in 2020

Lyft anticipates sales of US$3.28 billion to US$3.3 billion for 2019, which is above estimates.

Beyond Meat, Lyft shares slide as mood on street slaps recent...

If the mood doesn’t change soon, it may bode ill for Uber Technologies Inc when its IPO launches on Thursday.

Lyft’s IPO gives green light to tech companies going public

Lyft’s initial public offering could end up valuing the company at about US$25 billion – more than 60% above its last private valuation.

Lyft IPO said to be oversubscribed ahead of listing next week

Lyft is expected to price its shares on March 28 and begin trading on the Nasdaq the next day.

Ride-hail firm Lyft launches IPO road show in Uber’s shadow

Lyft expects to price 30.8 million shares between US$62 and US$68 per share.

Financial Times: Investors ask Lyft to scrap two-share plan ahead of...

Lyft should stick with its single class of shares with one vote each when it debuts on the Nasdaq exchange.

Uber settles driver lawsuit for US$20 million

The case was filed in August 2013 and stated Uber classified drivers as contractors to avoid paying them minimum wage and providing benefits.

The biggest winners from Lyft’s IPO plan

Logan Green, Lyft’s chief executive officer, and John Zimmer, its president, hold Lyft shares estimated to be worth hundreds of millions of dollars.

Uber, Lyft to offer drivers shares in stock market listing

Uber Technologies was reportedly planning such awards for a 'significant' portion of its 3 million drivers.

Uber incites IPO frenzy, while Lyft pitches its focus

The IPO stories for both companies are starting to emerge.

Lyft launches first step to take company public

The IPO will take place once the Securities and Exchange Commission (SEC) has reviewed the sealed documents.

Lyft in talks to hire advisor for 2019 IPO

Lyft has hired Class V Group LLC to work with the management on the process and plans to begin taking pitches from banks starting as early as September, Bloomberg said, citing sources.

New York City votes to cap Uber, Lyft vehicle licenses

The number of ride-hailing vehicles in the city has jumped from about 12,600 in 2015 to about 80,000 this year, according to the New York City Taxi and Limousine Commission.

China’s Didi gets US$500 million funding from Booking.com parent

Booking Holdings will allow its users to hail Didi cars while Didi users will also have access to Booking Holdings' services through Didi.

Lyft value jumps to $15.1 billion in new funding round

The Lyft valuation is slightly more than double the $7.5 billion figure used when the San Francisco-based company raised $500 million early last year.

Uber, Lyft drivers pinched by higher gasoline prices

The increase is bitter pill for those who toil in the increasingly popular ridesharing business. Fuel is one of the main costs facing drivers who work for Uber, Lyft and other smaller application-based services.

Uber, Lyft end mandatory arbitration for sex misconduct claims

Ride-hailing services Uber and Lyft are scrapping policies requiring arbitration over claims of sexual misconduct involving employees, riders and drivers.

Study finds Uber’s growth slows after year of scandal; Lyft benefits

Uber Technologies Inc's growth has slowed as a series of scandals has allowed the ride-hailing company's chief U.S. competitor, Lyft Inc, to grab more market share, digital research firm eMarketer said in a report on Monday.

Canada auto part giant Magna invests in Lyft

Lyft on Wednesday announced it will collaborate with Canada's Magna on self-driving car technology, with the automotive components giant set to invest $200 million in Uber's main rival.

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