Lyft is a transportation company that designs, markets, and operates a mobile application that connects riders with drivers for private and shared rides, with in-app payment and the ability to schedule trips in advance. The platform has expanded to multimodal options, including bike- and scooter-sharing, to provide integrated transportation options. Founded in 2013 and publicly listed in 2019, Lyft is the second-largest ride-sharing service provider in the United States and Canada, serving diverse user segments including college, university, and corporate communities.
Chief Strategy Officer and Head of Business, Self Driving
Past deals in Car Sharing
Flexdrive Services
Acquisition in 2020
Flexdrive Services, LLC, established in 2014 and headquartered in Atlanta, Georgia, operates an online platform offering vehicle subscription services. This platform connects consumers with vehicles from dealerships and fleet owners, providing a flexible, commitment-free alternative to traditional car ownership or leasing. Flexdrive's services include maintenance and insurance, with no mileage restrictions, long-term commitments, or credit checks required. The company operates in multiple states across the U.S. and is a subsidiary of Lyft, Inc.
Hitch
Acquisition in 2014
Hitch is the first on-demand multi-pickup solution--an iOS app offering an extremely affordable (50% of an UberX) and convenient transportation solution. Rather than booking an entire car, you only reserve the amount of seats you need, allowing them to pick up other passengers heading the same location you are. Unlike other car-sharing solutions, this all happens in real-time and requires no advance planning on your part. Simply drop two pins, and a car comes to pick you up.
By sharing the ride, cost is significantly lowered, environmental impact is minimized, and you get to ride to your favorite venue/concert/event with other people with similar interests. And their dynamic re-route algorithm makes sure that your trip duration isn't significantly affected.
Cherry
Acquisition in 2013
Cherry offers on-demand car wash services, allowing customers to park their vehicles anywhere and check in online for a convenient cleaning experience. The company provides a mobile solution that brings car washing directly to the user's location, eliminating the need to visit a traditional car wash. This innovative approach caters to the busy lifestyles of modern consumers, ensuring that they can maintain the cleanliness of their vehicles without disrupting their daily routines.
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