Lyft heads to Canada with Toronto service


Ride-hailing company Lyft is bringing its service to Canada.

New CEO Dara Khosrowshahi said Uber won't be profitable in the USA for at least the next six months because of what Lyft was spending on growth.

Now, Lyft is giving Uber a run for its money.

The company, which is in the middle of closing a $1 billion round from Alphabet, has been in hyper growth mode this year, launching in at least 100 additional cities across the US over the last few months. Meanwhile, Uber has faced a series of civil lawsuits and executive turnover.

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Lyft will face competition in Toronto, as Uber already has a presence, and has been operating in the city for five years now.

Lyft is offering incentives for new drivers in Toronto, including a 25 percent driver bonus on all rides for the first three months for certain qualified drivers, and bonus credits of C$200 ($157) for referring friends to drive for Lyft. The company's US operations have grown considerably throughout 2017, boosting its availability from 54 percent of the population to 95 percent this year alone.

Lyft will serve the Greater Toronto and Hamilton Area and plans to launch by the end of the year. The company has long talked about having ambitions outside its home country in past, and its primary rival Uber has a strong worldwide presence, but thus far, it has focused on expanding its coverage with the US and upgrading its service offerings. The company only began its driver outreach today.