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 Ride Sharing
Argo AI
Corporate Round in 2021
Founded in 2016, Argo AI is a global company developing autonomous driving technology. Headquartered in Pittsburgh with engineering centers worldwide, it aims to make streets safer and more accessible through its Argo Autonomy Platform.
Halo Cars
Acquisition in 2020
Halo Cars, Inc. is a digital car-top advertising company based in Brooklyn, New York, founded in 2018. The company specializes in hyper-targeted outdoor advertising by equipping rideshare vehicles with smart LED screens that display dynamic advertisements. These ads are tailored based on various factors, including the vehicle's location, time of day, weather conditions, and consumer profiles. By leveraging this technology, Halo Cars enables rideshare drivers to generate additional income through the display of location-based advertisements. As of early 2020, Halo Cars operates as a subsidiary of Lyft, Inc., further integrating its innovative advertising solutions into the rideshare ecosystem.
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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