(Reuters) – Ride-hailing firm Lyft Inc said on Monday it would launch its service in Toronto, marking the first international expansion for the U.S.-based rival of Uber Technologies Inc [UBER.UL].
“Before you know it, Lyft will be coming to you live in Toronto,” the company said in a blogpost, without giving a launch date. http://lft.to/2AFQ5at
Lyft is crossing into Canada at a time when rival Uber has opted out of operating in Quebec, Canada’s second-most populous province, to avoid following tough new regulations for drivers.
Lyft raised $1 billion in October, in a financing round led by CapitalG, the growth investment fund of Alphabet Inc and had in September hired an initial public offering advisory firm.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)