September 24, 2017 12:40 PM ET

Software

Company Overview of Lyft, Inc.

Company Overview

Lyft, Inc., a smartphone-based ridesharing and peer-to-peer transportation company, designs and develops a mobile application that matches drivers with passengers who request rides. The company allows payment through the application. Additionally, the user can schedule rides up to seven days in advance. It focuses on college, university, and corporate communities. The company was formerly known as Zimride, Inc. and changed its name to Lyft, Inc. in May 2013. Lyft, Inc. was incorporated in 2007 and is based in San Francisco, California.

185 Berry Street

Suite 5000

San Francisco, CA 94107

United States

Founded in 2007

Key Executives for Lyft, Inc.

Co-Founder and Chief Executive Officer
Age: 33
Co-Founder and President
Chief Operating Officer
Strategy Chief
Age: 46
Vice President of Payments
Compensation as of Fiscal Year 2017.

Lyft, Inc. Key Developments

Alphabet In Talks With Lyft For Possible Investment

Alphabet Inc. (NasdaqGS:GOOGL) is reportedly in talks with Lyft, Inc. for possible investment in the company.

Albuquerque Cab Co. Sues Against Uber and Lyft

Albuquerque Cab Co. has filed suit against ride sharing companies Lyft and Uber, arguing the companies unfairly competed with the cabbies, ultimately driving them out of business. The cab company, through attorney Michael Cadigan, seeks high-level damages in its suit, filed in 2nd District Court in Albuquerque Aug. 24. The suit's main argument is that the ride share companies ignored state Public Regulation Commission requirements that the companies cease operations in the state. When they kept operating, they were unfairly competing against taxi companies, which are regulated by the PRC by the authority of the state's Motor Carrier Act. At the time, Lyft stopped operating in Albuquerque, though a state judge allowed it to continue operations in Santa Fe despite the PRC's ruling, according to Journal reporting. Uber continued to operate in Albuquerque.

Lyft Introduces Two New Premium Black Car Ride Types - Lyft Lux and Lyft Lux SUV - to Tampa

Lyft on Aug. 31, 2017 introduced two new premium black car ride types - called Lyft Lux and Lyft Lux SUV - to Tampa. Tampa - along with Orlando and Jacksonville - is part of a 16-city rollout of the program. Lyft Lux offers customers what it describes as a luxury ride in a high-end vehicle. The SUV option will comfortably seat at least six passengers. Drivers will receive higher fares than traditional rides. To qualify, drivers need to live in Lyft Lux cities and drive approved Lyft Lux or Lyft Lux SUV vehicles. Cars must be in excellent condition with a black exterior and high-end interior. Drivers will also be required to keep a driver rating at 4.7 stars or above.

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