Lyft is creating a major move to go north from the border and finally expand its ride-hailing network outside the United States. Â
The company announced in a blog post they have tabbed Toronto, Canada, as its initial international territory. Lyft also create an open call for drivers to make upward its fleet in the city, exactly where it will open a Driver Center office for outreach and prospecting events. Â
There isn’t a precise date for Lyft cars to become out on Toronto’s streets, but the corporation said operations should begin around the christmas season, and first-time users will be taken care of to their first trip gratis.
Lyft’s Toronto entry is no shock. The company’s U. S. operations have become considerably throughout 2017, boosting the availability from 54 percent from the population to 95 percent this season alone. Â
As industry chief Uber has spent the year floundering through a seemingly endless series of techniques, Lyft moved aggressively to cash in. Expansion outside of the US was merely a matter of time â? the shift was even foreshadowed in a Sept report that claimed Toronto will be Lyft’s first international target, along with Australia and New Zealand because potential next steps. Â Â
The announcement comes shortly after Lyft’s greatest round of fundraising yet, the billion dollar investment led simply by Google parent company Alphabet’s CapitalG growth equity fund. Lyft today has an $11 billion valuation, the slew of partnerships with main automakers and tech companies to build up self-driving technologies, and, according to the leaked investor document Bloomberg acquired, projected domestic growth of 61 percent to take over a third from the US ride-hailing market by the end associated with 2017. Â Â Â
Lyft waited with patience to become an international operation, and now, time looks to be just right. The company nevertheless has a long way to go to catch up in order to Uber, both in terms of its size of operations and valuation â? but the next leg of that trip is in Toronto.
Representatives Â for Lyft didn’t immediately respond to the request for more details.