With the lift of company’s total valuation to $11 billion, the funding is initiated by the alphabet investment fund capital (a venture investment arm of Google’s parent company). As a part of the deal a venture partner at CapitalG “David lawee” will take a seat on Lyft’s board of directors.
Alphabet’s investment has raised the high-stakes battle for supremacy in the taxi-booking industry. Lyft has learned a lot from its competitor Uber; both the companies are in a tough race to become public first and who so ever wins will create a benchmark.
Lyft has recently passed the 500 million ride mark and now it is serving about 95 percent of U.S population.
Even after a well established competitor like Uber, lyft has won a great spot in the taxi-booking app industry. So its never too late for your business plan, if you are still wondering to develop an app for taxi-booking business still you can be the next Uber or Lyft.
Interested in developing an app like Lyft? We have the experts for you. Get in touch with a team of taxi app specialists, developers, and coders.