Lyft announces first international expansion to Toronto
Ride hailing service Lyft is making its first foray into international markets.
It will launch its service in Toronto, the first city outside the US from next month.
Lyft now operates in 300 US cities and has long mooted plans to expand overseas.
It gave no specific start date but notes it will be up and running in time for the busy holiday season.
"We have had our sights set on international expansion for months, and the Canadian market is an obvious fit for Lyft’s culture, values and the service that we provide," said CEO Logan Green.
It comes as Lyft has been steadily syphoning off business from rival Uber as that company works its way through a series of scandals.
An investor document said Lyft is on pace to claim a third of the US ride hailing market share, but won’t yet reach break-even until next year.
It is actively recruiting drivers in Toronto and says there is big demand for the service.
Lyft says about 50,000 greater Toronto residents had already downloaded the app even before the announcement.
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