Competition coming for Uber as Lyft expands to Toronto

Competition coming for Uber as Lyft expands to Toronto

Competition coming for Uber as Lyft expands to Toronto

Lyft has always been trying to carve out an equal share of the American ride-sharing market, but has struggled to match up against rival Uber.

The company, which was once known for its pink-moustached cars, made the announcement on its blog.

The company announced Monday that it is coming to Toronto in what will be its first expansion outside of the United States.

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Khosrowshahi was tapped to run Uber in August after leading travel-booking site Expedia Inc for 12 years and is expected to bring a less abrasive approach than his predecessor, Travis Kalanick.

Lyft is planning to make its first trip outside the carrying passengers in Toronto. "Right now, we have a situation where Lyft is spending very aggressively to gain share".

Lyft is now available in its first global city: Toronto.

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However, Uber has recovered its business in some of the major markets it took the biggest hit with the exception of San Francisco and NY.

Lyft will serve the Greater Toronto and Hamilton Area and plans to launch by the end of the year. That global expansion will also likely continue beyond Toronto into other English-speaking markets, those sources said.

But the lack of profits in its home market, where it has been operating for eight years, and others such as Southeast Asia, raise questions about the company's business model, which relies on heavily subsidizing both riders and drivers to keep prices low using the billions of dollars in venture capital the company has raised. The company is also beginning to sign up potential drivers now in advance of its rollout of its service.

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