This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2017/11/13/business/lyft-toronto-canada.html

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
Lyft Plans to Offer Service in Toronto Lyft to Begin Operations in Toronto, Its First Market Outside the U.S.
(about 1 hour later)
The ride-hailing company Lyft, a major rival to Uber in the United States, is moving to gain ground internationally.The ride-hailing company Lyft, a major rival to Uber in the United States, is moving to gain ground internationally.
Lyft announced on Monday that it would be offering services in Toronto in time for the holiday season. Lyft announced on Monday that it planned to begin operating in Toronto, its first international location, in time for the holiday season.
“We’ve been looking forward to taking our brand of ride-sharing international for some time, and we’re super pumped to share this with our close friends up north,” the company said in a statement. The company, which has benefited from several scandals at Uber, is trying to raise the stakes in its rivalry with its much larger competitor. Lyft has begun exploring an initial public offering in 2018, and raised $1 billion in financing last month, getting support from Alphabet’s venture investment arm, CapitalG, along the way.
In an effort to entice drivers, Lyft offered a 25 percent bonus for the first 3,000 who are approved and who complete 20 rides a week during the first three months of operation. Lyft has also been jockeying for space in the self-driving car sector, agreeing in September to a partnership with Ford Motor Company to develop autonomous-vehicle designs and technology, and opening a research facility in Palo Alto, Calif.
The company has benefited from a series of scandals at Uber, but the competition in the sector is heating up. The company’s expansion into Canada highlights its ambitions to challenge Uber further afield.
Lyft has begun exploring an initial public offering in 2018 and has already raised $1 billion, getting support from Alphabet’s venture investment arm, CapitalG, along the way. “We have had our sights set on international expansion for months, and the Canadian market is an obvious fit for Lyft’s culture, values and the service that we provide,” Logan Green, the company’s chief executive, said in a statement. Lyft said it would start its service in Toronto next month, he added.
Lyft has also been jockeying for space in the self-driving sector, agreeing to a partnership with the automaker Ford in September to develop autonomous-vehicle designs and technology, and opening a research facility in Palo Alto, Calif. Lyft has high hopes for the Toronto market. John Zimmer, the company’s president and co-founder, told the Toronto Star that he expected the Canadian city to eventually become one of Lyft’s five largest markets.
The announcement from Lyft was made just hours after Uber completed a deal to sell a stake to SoftBank, a Japanese conglomerate, which would pave the way for sweeping governance changes at Uber and an initial public offering. In an effort to entice drivers, Lyft is offering a 25 percent bonus for the first 3,000 drivers who are approved and who complete 20 rides a week during the company’s first three months of operation in Toronto.
Uber has been trying to repair its image, with Dara Khosrowshahi, the company’s new chief executive, pushing a softer tone and a list of cultural values that include the maxim, “We do the right thing. Period.” Lyft made its announcement just hours after Uber completed a deal to sell a stake to the Japanese conglomerate SoftBank, a move that paves the way for sweeping governance changes at the ride-hailing behemoth, as well as for that company’s own initial public offering.
Uber suffered another setback last week, however, when a British employment tribunal rejected its argument that the company’s drivers were self-employed. Uber has been trying to repair its image, with Dara Khosrowshahi, the new chief executive, pushing a softer tone and a set of cultural values that includes the maxim, “We do the right thing. Period.”
Lyft has tried to project a friendlier image to distinguish itself from Uber. Speaking to the Toronto Star last month, John Zimmer, Lyft’s president and co-founder, said the company was focused on “treating people well.” Uber, which began operating in Toronto five years ago, has faced resistance in Canada. Taxi drivers have protested against the company for not adhering to the same rules as the taxi industry. Toronto city officials at one point sought to ban Uber, but Ontario’s Superior Court refused that request in 2015.
The company suffered a setback last week in London, when a British employment tribunal rejected its argument that the company’s drivers were self-employed. The ruling, upholding an earlier court judgment, threatens Uber’s hiring model in Britain.
That decision came after London’s transport regulator in September revoked Uber’s license to operate in the British capital, its biggest market outside of the United States, saying that the company was not “fit and proper” to operate there. Uber is appealing the ruling, and can continue to operate in London until the appeals process is completed.
Lyft, by contrast, has so far limited its expansion to the United States. The company has, however, had several meetings with London transport officials, according to documents published by Transport for London, the city’s transportation authority. Lyft has given presentations about its business model and discussed the London mayor’s transport strategy, raising the prospect that it could seek to expand there as well.
The company has tried to project a friendlier image to distinguish itself from Uber. Speaking to the Toronto Star, Mr. Zimmer said the company was focused on “treating people well.”