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Lyft

American mobility company offering various services.
Lyft

Lyft, Inc. provides ride-hailing, scooters, bike-sharing, rental cars, and food delivery. It sets fares based on local demand and is the second-largest ridesharing company in the US. Lyft's drivers are classified as independent contractors, leading to criticism and legal issues. Studies suggest Lyft contributes to traffic congestion and reduces public transport use.

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Timeline

2007
Development of Zimride
While working at Lehman Brothers, Zimmer and Green worked on developing Zimride, with Green flying to New York City to meet with Zimmer.
2008
Founding of Lyft (formerly Zimride)
Logan Green and John Zimmer co-founded Lyft, originally known as Zimride, in 2008 after connecting on Facebook. The company initially started as a side project but later transitioned to focus on providing ride-sharing services to college campuses.
2012-06
Lyft Launch by Logan Green and John Zimmer
Lyft was launched in the summer of 2012 by computer programmers Logan Green and John Zimmer as a service of Zimride, a long-distance intercity carpooling company.
2013-01-30
Lyft Expands to Los Angeles
On January 30, 2013, Lyft expanded its services to Los Angeles, marking a significant milestone in its growth.
2013-05-23
Lyft Raises $60 Million
In May 2013, Lyft secured $60 million in funding as competition in the ride-sharing industry intensified.
2014-07-25
Lyft Launches in New York City
In July 2014, Lyft officially started operating in New York City, marking a significant expansion for the ride-sharing company.
2015-03-12
Lyft accuses former COO of stealing trade secrets
In 2015, Lyft accused its former Chief Operating Officer, Travis VanderZanden, of stealing company secrets after he left for Uber. The complaint filed in San Francisco Superior Court revealed that VanderZanden stored confidential Lyft documents on his personal Dropbox account.
2015-05-15
Lyft Raises $150M with $100M from Carl Icahn
In May 2015, Lyft secured an additional $150 million in funding, with $100 million coming from investor Carl Icahn.
2015-09-16
Didi Kuaidi Invests $100M in Lyft
In September 2015, China's Didi Kuaidi invested $100 million in Lyft as part of a ridesharing alliance to compete against Uber.
2015-12-03
Lyft, Didi, Ola And GrabTaxi Partner In Global Tech, Service Alliance To Rival Uber
Lyft, Didi, Ola, and GrabTaxi formed an alliance to compete with Uber on a global scale, focusing on technology and services.
2016-01-04
Lyft partnership with General Motors
Lyft partners with General Motors to collaborate on ride sharing and autonomous cars. General Motors invests $500 million in Lyft, marking one of its largest investments in an external company.
2016-03-14
Lyft launches Express Drive rental program with GM
Lyft introduces Express Drive, a rental program for GM vehicles, allowing Lyft drivers to rent cars for driving. The partnership with General Motors also includes testing electric taxis.
2016-06-02
General Motors Invests $500 Million in Lyft, Sees A Self-Driving Future
General Motors made a significant investment of $500 million in Lyft, indicating a vision for a future with self-driving vehicles.
2016-06-26
Lyft introduces trip scheduling feature
Lyft announced the launch of a new feature that allows users to schedule trips ahead of time. This move aimed to provide more convenience and flexibility to Lyft customers.
2016-07-01
Lyft Expands to Silicon Valley
In July 2016, Lyft announced the expansion of its ride-sharing service to Silicon Valley.
2016-08-21
Lyft Rewrites Its App In Apple's New Language
Lyft revamped its app completely using Apple's new programming language.
2016-08-22
Lyft explores sale options without success
Lyft reportedly attempted to find a buyer but was unsuccessful in its efforts. This development hinted at Lyft's strategic considerations and potential changes in its business direction.
2016-08-27
Lyft cuts prices nationwide by 20%
Lyft reduced prices by 20% across the country and temporarily waived commission fees for drivers.
2017-01-29
Lyft co-founders donate $1 million to ACLU
In January 2017, Lyft co-founders Logan Green and John Zimmer pledged a donation of US$1 million to the American Civil Liberties Union (ACLU) over four years to support the defense of the constitution.
2017-05-14
Lyft signs deal with Alphabet Inc's Waymo
Lyft partners with Alphabet Inc's self-driving car unit Waymo to integrate autonomous vehicle technology into mainstream transportation through pilot projects and product development.
2017-06-26
Lyft announces pickup suggestions feature
Lyft introduces pickup suggestions in its app update, aiming to simplify the process for drivers to pick up riders efficiently and save time for both drivers and riders.
2017-07-05
Lyft Achieves One Million Rides Per Day
Lyft reaches a milestone by providing one million rides per day, showcasing the company's significant growth and popularity among users. This achievement solidifies Lyft's position as a major player in the ride-sharing industry.
2017-07-21
Lyft establishes Level 5 Engineering for self-driving cars
Lyft creates a new division named Level 5 Engineering dedicated to the development of autonomous vehicles.
2017-09-07
Lyft partners with Drive.ai for self-driving cars
Lyft collaborates with American technology company Drive.ai to launch a fleet of self-driving cars, expanding its efforts in autonomous vehicle technology.
2017-10-20
Lyft secures $1 billion investment from Google-led consortium
On October 20, Lyft secures a significant investment of US$1 billion from a consortium led by Google, leading to a valuation of US$11 billion.
2017-11-06
Lyft raises $150 million in funding with investment from Carl Icahn
Lyft secures $150 million in funding with a significant $100 million contribution from renowned activist investor Carl Icahn, marking his first investment in a startup business.
2017-11-13
Lyft expands internationally to Toronto, Canada
Lyft announces its international expansion by revealing plans to operate in Toronto, Canada, marking its first venture outside the United States and establishing Toronto as its inaugural international city of operation.
2017-11-15
Retirement of Lyft's Pink Mustaches
Lyft announces the retirement of the iconic pink mustaches that were previously displayed on the grills of its drivers' cars. The company introduces an illuminated logo for the windshields of its drivers as a replacement.
2018-03-14
Magna International invests $200 million in Lyft for self-driving cars
On March 14, Canadian automotive parts supplier Magna International announces a $200 million investment in Lyft for the manufacturing of self-driving cars.
2018-04-19
Lyft announces plan to invest in becoming carbon neutral
In April 2018, Lyft revealed its initiative to invest millions of dollars to achieve complete carbon neutrality. The company aims to offset approximately one million metric tons of carbon within the first year of the program.
2018-05-15
Lyft Ends Forced Arbitration for Sex Assault Victims
Lyft announces the end of forced arbitration for sexual assault victims, a significant policy change to address issues of abuse within the company.
2018-07-02
Lyft acquires Motivate
On July 2, 2018, Lyft announced the acquisition of Motivate, a New York-based company known for operating bikeshare systems, for a reported $250 million.
2019-03-18
Lyft aims for $23 billion valuation
On March 18, 2019, Lyft announced its aim for a $23 billion valuation as part of its IPO.
2019-03-24
Lyft's Rider Experience Improvement
Lyft addressed a common rider complaint by fixing a major issue, enhancing the overall user experience.
2019-03-25
Lyft receives $1 billion investment from Google-led consortium
Lyft's taxi app gains a significant boost with a $1 billion investment from a consortium led by Google, strengthening its position in the market.
2019-03-26
Lyft's Big Bike-Share Buy
Lyft made a significant acquisition in the bike-share industry, aiming to dominate the urban transportation sector.
2019-03-29
Lyft debuts on Nasdaq at $87 a share
On March 29, 2019, Lyft made its debut on the Nasdaq stock exchange at $87 per share.
2019-04-04
Lyft Seeks Valuation of Up to $23 Billion in IPO
Lyft is looking to achieve a valuation of up to $23 billion in its Initial Public Offering.
2019-04-15
Lyft Launches IPO Road Show
Lyft initiated its IPO road show, a series of presentations made by the company to potential investors, amidst competition from Uber.
2020-07
Lyft suspends operations in California
In July 2020, Lyft announced the suspension of its services in California due to a legal dispute regarding the employment classification of its drivers.
2020-11
Lyft sells Level 5 to Toyota
In November 2020, Lyft revealed its decision to sell its self-driving unit, Level 5, to Toyota for $550 million.
End of the Timeline
Lyft

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