Lyft Faces Challenges Despite Profitability Improvements

Lyft, Inc. is a global mobility platform offering rideshare, taxis, private hire vehicles, car sharing, bikes, and scooters across North America and Europe. It operates across 11 countries and in nearly 1,000 cities, and Lyft Urban Solutions supports bike sharing in 16 countries and more than 86 cities. Its Lyft mobile application (the Lyft App) connects riders with drivers for on-demand ride services and supports a variety of other multimodal mobility solutions. Its offerings on the Lyft App include an expanded set of transportation modes in select cities, such as access to a network of shared bikes and scooters (Light Vehicles) for shorter rides and first-mile and last-mile legs of multimodal trips. FREENOW by Lyft is the European taxi app featuring broad multi-mobility options. Through FREENOW, passengers can access various mobility services within a single app, including taxis, private hire vehicles, car sharing, car rental, e-scooters, e-bikes, e-mopeds, and public transport.