Lyft

Saturday, Apr 20, 2024 | Last Update : 04:22 AM IST

Uber, Lyft hold off suspending services in California after court stay on adding drivers to rolls

A judge had originally given Uber and Lyft until Friday to comply with a labour law on the matter, which went into effect this year.

21 Aug 2020 6:23 PM

Uber on Wednesday said it would lay off 3,700 full-time employees, or roughly 17 percent of its head count. (AFP Photo)

Uber reports massive losses, to lay off 3,700 employees

Uber recorded $3.54 billion in total revenue for the first three months of the year, but still posted a $2.9 billion loss in the period

08 May 2020 11:25 AM

Uber and Ola are reported to have lost as much as 80% of rides but the company has not offered any financial assistance to tide over the crisis. (Photo | Wikimedia Commons - Alexander Torrenegra)

Uber, Lyft suspend shared rides in US, Canada, but not yet in India

Pooled rides show up on the Uber and Ola apps in India even now

18 Mar 2020 5:56 PM

Uber’s report, its shares fell 6 per cent and Lyft dropped nearly 2 per cent. (Photo: AP)

Uber loses USD 5 billion, misses Wall Street targets despite easing price war

The company’s core business, ride-hailing, grew revenue only 2 per cent to USD 2.3 billion.

09 Aug 2019 9:27 AM

The city must honour its 10-year contract with the San Franciso Municipal Transportation Agency. (Photo: AP)

Lyft files lawsuit to block San Francisco from allowing other bike sharing companies

The lawsuit is asking for a temporary restraining order against the city and county of San Francisco.

10 Jun 2019 10:15 AM

The Uber IPO would rank as the largest in the United States since that of Chinese e-commerce giant Alibaba Group Holding Ltd in 2014.

Uber unveils IPO terms that are well below expectations

The lower valuation reflects the poor stock performance of smaller rival Lyft Inc following its IPO last month.

28 Apr 2019 1:05 PM

Pinterest valued at USD 12.7 billion in IPO, sign of tech demand after Lyft struggles

A key difference between Pinterest and Lyft however were their valuation expectations.

18 Apr 2019 4:18 PM

The company’s bike share division is working to replace about 3,000 pedal-assist bikes in New York.

Braking issues: Lyft pulls electric bikes in three US cities

The company already operates about 17,000 traditional bikes in those cities.

15 Apr 2019 8:29 AM

Drivers complain about declining earnings, and they can easily switch between platforms, making it difficult for either company to further reduce driver costs and keep fares cheap for passengers. (Photo: AFP)

Uber reveals strong growth, huge losses ahead of IPO

Uber racked up nearly USD 8 billion in losses over its 10 years in existence.

14 Apr 2019 2:58 PM

Investors and analysts said technology unicorn IPOs are losing their luster. (Photo: AP)

Lyft's stock slide casts long shadow on Uber's IPO

Lyft’s poor stock performance bodes ill for these IPOs, especially for companies like Uber with no profits to show.

12 Apr 2019 1:31 PM

Uber could become a USD 100 billion company with a massive share offering that will be a bellwether for tech startups.

Uber steers toward blockbuster IPO as road looks rocky

Uber released financial data earlier this year showing it lost USD 865 million in the fourth quarter of 2018.

11 Apr 2019 10:13 AM

Describing ride-sharing as a “megatrend”, and not just a fad, Citron said Lyft has good prospects, especially since millennials are foregoing car ownership for ride-sharing.

Lyft's shares rise after Citron advises against shorting stock

The number of active Lyft riders has surged fivefold to 18.6 million in the fourth quarter of 2018.

07 Apr 2019 1:15 PM

Lyft executives including Chief Policy Officer Anthony Foxx said that the company has taken other steps to combat congestion such as showing bus arrival times on its smartphone app and investing in bicycles and scooters. (Photo: AP)

Why some green investors are passing on Uber and Lyft

Both companies hope to push people away from car ownership and promote shared and sustainable transportation services.

03 Apr 2019 12:58 PM

The stock’s weak performance could make investors more cautious about a string of expected public listings from Silicon Valley unicorns, including Uber Technologies Inc and Pinterest, which are also unprofitable.

Lyft falls further from IPO after receiving first 'sell' rating

Shares of the money-losing San Francisco company fell as much as 4.2 percent to USD 66.10.

03 Apr 2019 12:48 PM

Lyft has been closely watched as a bellwether for larger rival Uber Technologies Inc, which sources say is planning to kick off its IPO in April.

Lyft gives up debut gains in second day of trading

Analysts blamed the 12 percent slump on lingering questions about how loss-making Lyft will become profitable.

02 Apr 2019 1:08 PM

On Thursday, Lyft priced 32.5 million shares, slightly more than it was offering originally, at USD 72, the top of its already elevated USD 70-USD 72 per share target range, raising USD 2.34 billion in its initial public offering.

Lyft shares soar on Nasdaq debut, setting stage for Uber

Lyft’s IPO, which is the year’s biggest thus far, sets the stage for other Silicon Valley unicorns seeking to debut in the stock market.

31 Mar 2019 1:00 PM

Lyft’s IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc.

Lyft valued at USD 24.3 billion in first ride-hailing IPO

Lyft started its IPO investor road show earlier this month with a target range of USD 62-USD 68 per share.

29 Mar 2019 10:09 AM

Lyft and Uber have combined to popularize the trend of summoning a ride on a smartphone app that connects them to drivers who use their own cars to pick up passengers. (Photo: AP)

Lyft hikes IPO target to USD 70-USD 72 a share as excitement rises

With the revision disclosed Wednesday, Lyft is now seeking USD 70 to USD 72 per share, up from its previous goal of USD 62 to USD 68.

28 Mar 2019 11:26 AM

Lyft will be seeking to convince investors to make large commitments to its IPO.

Lyft to launch road show for up to USD 2 billion IPO

Lyft will meet with investors across the United States before pricing the IPO and listing on the Nasdaq at the end of the month.

18 Mar 2019 10:44 AM

It aims to become a serious competitor in autonomous driving while its biggest rival, Uber, retrenches.

Lyft surpasses 5,000 self-driving rides with Aptiv fleet

Lyft launched its self-driving service in January in Las Vegas, where passengers can take a ride in an autonomous BMW.

21 Aug 2018 7:43 PM

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Shobhaa De

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