Lyft's Services Will Now Be Available in Toronto and the GTA
Riley von Niessen — November 16, 2017 — Tech
Previously, consumers in Toronto were limited to cabs and Ubers when it came to finding a ride around the city, however now that Lyft's services have expanded, the rideshare company will generate some healthy competition.
As Lyft's services were only available throughout the US before, the company's expansion to Canada marks its first international endeavor, a careful decision that was made after much consideration. John Zimmer, the company's president and co-founder, believes that Toronto will be one of its top five most profitable cities.
In addition to becoming available within the city itself, Lyft's services can be accessed in surrounding areas as well, including Mississauga, Richmond Hill, Brampton, Hamilton, Newmarket, and Oshawa. Although Uber has faced some controversy in the city due its rivalry with cab companies, Lyft's expansion demonstrates that ridesharing will only become more accessible.
As Lyft's services were only available throughout the US before, the company's expansion to Canada marks its first international endeavor, a careful decision that was made after much consideration. John Zimmer, the company's president and co-founder, believes that Toronto will be one of its top five most profitable cities.
In addition to becoming available within the city itself, Lyft's services can be accessed in surrounding areas as well, including Mississauga, Richmond Hill, Brampton, Hamilton, Newmarket, and Oshawa. Although Uber has faced some controversy in the city due its rivalry with cab companies, Lyft's expansion demonstrates that ridesharing will only become more accessible.
Trend Themes
1. Rideshare Expansion - The rise of rideshare companies expanding internationally into new markets presents an opportunity for further growth and innovation in the industry.
2. Competition in Ridesharing - The entrance of new players into the ridesharing market generates competition that drives innovation and improves quality of service for consumers.
3. Globalization of Ridesharing - As ridesharing companies continue to expand their services globally, there is an opportunity to create innovative solutions that cater to the unique needs of different markets worldwide.
Industry Implications
1. Transportation - The expansion of rideshare services presents an opportunity to disrupt the traditional taxi and car rental industries, leading to increased flexibility, convenience, and cost-effectiveness for consumers.
2. Technology - The ridesharing industry relies heavily on technology for real-time tracking and communication between drivers and passengers, presenting opportunities for innovation in areas such as mobile apps and connected car technology.
3. Tourism - The availability of rideshare services in new markets can have a significant impact on the tourism industry, making it easier for travelers to navigate unfamiliar cities and access local attractions.
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