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Uber's biggest rival Lyft eyes Toronto expansion by end of year

13 November 2017

Ride-hailing firm Lyft Inc said on Monday it would launch its service in Toronto, marking the first worldwide expansion for the USA -based rival of Uber Technologies Inc.

The Lyft app is now available to 95% of the population in the United States, up from 54% at the start of the year.

Last year, city council voted in favour of a package of regulations that effectively legalized ridesharing services in Toronto.

When service begins there, Lyft hopes to have enough drivers to respond to ride requests in two to three minutes, as it does in major US cities.

The company said it was accepting applications for drivers, but did not offer additional details and did not respond to a request for comment.

It's another move in Lyft's plan to compete with rival Uber, which now is in 77 countries.

In an email sent to CP24, Lyft spokesperson Daniel Moulton said the expansion will be bringing a "new affordable transportation option" to Toronto consumers.

The ride-hailing service announced Monday it will start offering service in Toronto by the holidays, though it didn't specify an exact date. Lyft has repeatedly met with London regulators. In October, Lyft raised $1 billion in funding in a round led by the venture-capital fund of Google parent Alphabet Inc., that gave it a valuation of $11 billion. It has partnerships with Ford and General Motors, as well as worldwide ride-hailing apps, such as India's Ola. The company says it is now worth $11bn.