Lyft has gone international.
The San Francisco-based ride-sharing company has begun operating in Toronto, Canada—its first service outside of the U.S.
Lyft announced last month that it would be operating in Canada but did not say when.
By launching its first Canadian service, Lyft is now out to compete abroad with its chief rival, Uber.
The Canadian service also comes just after technology news portal The Information reported that Lyft has cut its losses and tripled its revenues.
Citing Lyft’s financial statements, Lyft’s net loss dropped 27 percent to $206 million for the first half of 2017 while its revenue rose to $483 million—triple the amount recorded in the same period last year.
Lyft did not comment on The Information’s report.
TechCrunch said Lyft’s service in Toronto “includes standard Lyft, Lyft Plus, Lyft Premiere, Lyft Lux and Lyft Lux SUV rides” and can also be used to hail a ride to and from Pearson Airport.
Engadget said as part of the launch of the Toronto service, Lyft is offering $5 off the first ride and would be making donations to SickKids Foundation.
Lyft engaged in a philanthropic endeavor also recently by providing its drivers with tuition discounts.
The tuition discounts for Lyft drivers would be between five and 20 percent, reports said.
Lyft president John Zimmer said in a statement that many Lyft drivers “are working to achieve personal or professional goals, which often include continued education and learning.”
Zimmer said the company offered the tuition discounts to help the drivers succeed “on and off the platform.”
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
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