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Lyft to drive into Canada in first international foray

Reuters

Ride-hailing firm Lyft Inc said on Monday it would launch its service in Toronto, marking the first international expansion for the U.S.-based rival of Uber Technologies.

"Before you know it, Lyft will be coming to you live in Toronto," the company said in a blog post, without giving a launch date.

Lyft is crossing into Canada at a time when rival Uber has opted out of operating in Quebec, Canada's second-most populous province, to avoid following tough new regulations for drivers.

Lyft raised $1 billion in October, in a financing round led by CapitalG, the growth investment fund of Alphabet Inc, and had in September hired an initial public offering advisory firm.

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(Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

Lyft to drive into Canada in first international foray originally appeared on Autoblog on Mon, 13 Nov 2017 09:45:00 EST.