Lyft to drive into Canada in first international foray

Lyft to drive into Canada in first international foray

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 Inc.

An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren/Files

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 Inc.

"Before you know it, Lyft will be coming to you live in Toronto," the company said in a blogpost, without giving a launch date. http://lft.to/2AFQ5at

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 US$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.

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

Source: Reuters

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