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Lyft's first stop outside the US

13 November 2017

Lyft said its service would be available in Toronto "to help ring in the holidays".

It's move into the Toronto market will be its first outside the U.S.

Founded in 2012, Lyft has operations in every American state.

This year, Lyft ate into Uber's marketshare nationally causing the ride-hail behemoth's hold on the fall from 84 percent to 73 percent.

A spokesman confirmed that Uber will be unprofitable overall, although some cities may break even.

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Uber has often said its heavy losses were necessary to establish itself in new markets.

Furthermore, the company is operating at a bit of a disadvantage since Uber is already in Toronto and other parts of Canada.

Khosrowshahi's comments are also a testament to Lyft's growth.

'Before you know it, Lyft will be coming to you live in Toronto, ' the company said in a blogpost, without giving a launch date.

Toronto city council introduced rules to allow the service to operate legally previous year. 'I think it's over-capitalized at this point.

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'But I'm not optimistic that that market is going to be profitable any time soon'.

Ride-sharing service Lyft said Monday it is planning to launch in Toronto in December in its first foray outside of the U.S. The company and Uber rival announced the news in a blog posting. Indeed, there have been reports since the start of the year that such plans were imminent.

Uber also has been embroiled in a fight in Quebec over the province's rules for ride-hailing services.

In Britain and Brazil, prospects are brightening.

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Lyft's first stop outside the US