Timeline of Lyft
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This is a timeline of Lyft, a car-hailing platform.
|Time period||Key developments at Lyft|
|2012–2014||Lyft launches in San Francisco, and expands to at least 60 different cities by 2014. A year after launch, it gives 30,000 rides a week. By August 2013, it hits a million completed rides.|
|2014–2016||Lyft gets Series E and Series F round investments (including from General Motors), increasing its total raised to $1 billion and its valuation to $2.5 billion.|
|Year||Month and date||Event type||Details|
|2012||June||Company||Lyft launches in San Francisco by Logan Green and John Zimmer as a service of Zimride, a ridesharing company the two founded in 2007.|
|2013||January||Funding||Lyft raises $15 million in Series B led by Founders Fund.|
|2013||January 30||Expansion||Lyft expands to Los Angeles.|
|2013||May||Funding||Lyft completes a US $60 million Series C venture financing round led by Andreessen Horowitz; the other investors were Founders Fund, Mayfield Fund, K9 Ventures, and Floodgate.|
|2013||July||Partnerships||Lyft sells Zimride to Enterprise Holdings, the parent company of Enterprise Rent-A-Car, allowing Lyft to focus exclusively on the growth of Lyft.|
|2013||October 3||Expansion||Lyft announces its expansion to Silicon Valley.|
|2014||April||Funding||Lyft completes a $250 million Series D financing round led by Coatue, Alibaba, and Andreessen Horowitz, bringing its total amount raised to $332.5 million.|
|2014||April||Funding||Lyft announces it will temporarily stop taking 20% commissions from drivers, as it experiments with cutting user fares by 20%.|
|2014||April 24||Expansion||Lyft announces it will expand in 24 new markets, bringing its total number of markets to 60. These markets include Ann Arbor, Mich.; Fairfield County & New Haven, Conn.; Fresno, Calif.; Jacksonville, Fla.; Louisville, Ky.; Modesto, Calif.; Newark & North Jersey; Oklahoma City, Okla.; Raleigh-Durham, N.C.; San Bernardino, Calif.; and Tulsa, Okla.|
|2014||July||Product||Lyft rewrites all its code from Objective C to Swift, which makes the code tighter and easier to maintain.|
|2014||July 24||Expansion||Lyft launches in New York City. The New York Supreme Court in Manhattan forces Lyft to delay its planned launch in Brooklyn and Queens in response to complaints filed by the attorney general's office.|
|2014||August 4||Product||Lyft announces Lyft Line, a carpooling service that lets multiple people ride together when they share a common route.|
|2014||August||Competition||Journalists confirm that Uber has been sending so-called brand ambassadors to order Lyft rides undercover and then persuade the drivers to defect to Uber.|
|2014||August||Product||Lyft announces that it will reintroduce 20% commissions on rides, provide Lyft’s first revenue since April, when the company slashed prices and said it would temporarily suspend its cut of all fares.|
|2014||November 4||Legal||Lyft accuses former COO Travis VanderZanden (who left Lyft for Uber) for breach of his confidentiality agreement and fiduciary duty. This lawsuit is settled by June 2016.|
|2015||March||Funding||Lyft raises a $530 million Series E investment led by Japanese online retailer Rakuten Inc.|
|2015||March||Product||Lyft announces Lyft Carpool, which lets it go back to its Zimride roots, by allowing passengers to carpool outside of city limits.|
|2015||April||Team||Lyft hires Rex Tibbens, former vice president of Amazon logistics, as its chief operating officer.|
|2015||May||Funding||Lyft raises $150 million in second Series E led by a $100 million investment from Carl Icahn. This increases the total raised to over $1 billion and the valuation to $2.5 billion.|
|2015||June 25||Partnerships||Lyft announces a partnership with Starbucks, which connects Lyft with Starbucks’s rewards program and creates perks for drivers: Lyft drivers automatically get Gold status in the Starbucks Rewards loyalty program, while Lyft passengers earn points in the rewards program with each ride.|
|2015||September 16||Competition||Didi Kuaidi, the dominant Chinese player in China's ride-hailing market, announces a $100 million investment in Lyft, the second biggest player in the United States ride-hailing market after Uber. In addition, the companies announce a strategic partnership, where people can use the Lyft app to get rides using Didi Kuaidi in China, and vice versa.|
|2015||September 30||Company||Lyft announces its second engineering hub in Seattle.|
|2015||December||International||Lyft's alliance grows to include Didi Kuaidi (China), Ola Cabs (India), and GrabTaxi (South-East Asia) (all of which have Softbank as an investor). This is widely seen as an attempt by the companies to keep Uber at bay. All the other companies in the partnership are market leaders in their respective regions of focus.|
|2016||January 4||Funding||Lyft announces a partnership with U.S. automaker General Motors, which invests $500 million as part of a Series F $1 Billion fundraising effort. The partnership is designed to help both companies accelerate in the ride-sharing market, as well as the autonomous car arena.|
|2016||March||Partnerships||Lyft launches Express Drive, a car rental program through which Lyft drivers can rent a GM vehicle to drive on the platform.|
|2016||March||Product||Lyft and General Motors announce partnership to test-drive electric taxis.|
|2016||May 7–9||Local retreat||On May 9, Uber and Lyft cease operations in Austin, Texas. This is in response to a city ordinance upheld by Austin voters on May 7 that would require drivers for Uber, Lyft, and other transportation network companies to get fingerprint checks, to have their vehicles labeled, and to not pick up and drop off in certain city lanes.|
|2016||May 23||Product||Lyft announces that it will now allow users to schedule trips ahead of time.|
|2016||June||Partnerships||Walmart decides to test grocery delivery with both Uber and Lyft.|
|2016||June 27||Partnerships||Lyft announces that it has been working with Qatalyst Partners LP, in exploring its options for a future acquisition. It has been unable to find an acquirer as of August 2016.|
|2016||August 1||Local retreat, competition, mergers||Lyft's ally Didi Chuxing (formerly Didi Kuaidi), the dominant player in China's ridesharing market, agrees to buy Uber China, Uber's business in China.  The Uber brand will be retained, but Didi would “integrate the managerial and technological experience and expertise of the two teams.” Uber, which has reportedly lost $2 billion trying to make inroads in China, would therefore be able to cut its losses and focus on the rest of the Asian market. Commentators speculate on the effect this would have on Lyft, Ola Cabs, and GrabTaxi, that had entered into a technology and service alliance with Didi in December 2015.|
|2017||July||Partnership||Lyft announces that the forthcoming Walt Disney World Resort "Minnie Van" service will be powered by Lyft. Users staying at select Walt Disney World Resort hotels are given the option to hail a "Minnie Van" via the Lyft app. A Minnie Van is a Chevrolet Traverse with Minnie Mouse inspired exterior theming, driven by a Walt Disney World Cast Member that can take guests to any destination within the Walt Disney World Resort. Lyft Founder John Zimmer said of the partnership "Playing a part in a family’s experience at the most magical place on earth is a dream come true." |
|2017||November 13||Expansion||Lyft announces that they will launch in Toronto (the largest city in Canada.) This marks the first international city for the company.|
|2018||September 6||Product||Lyft launches its scooter-sharing system in Denver, starting with 250 scooters.|
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- Gannes, Liz (12 Jul 2013). "Lyft Sells Zimride Carpool Service to Rental-Car Giant Enterprise". All Things D. Retrieved 17 July 2013.
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- Etherington, Darrell (15 May 2015). "Lyft Raises An Additional $150M, Including $100M From Carl Icahn". TechCrunch. TechCrunch. Retrieved 2 June 2015.
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- "Lyft Announces Second Engineering Hub In Seattle". Retrieved July 1, 2016.
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- "General Motors Invests $500 Million in Lyft, Sees A Self-Driving Future". Retrieved 2 June 2016.
- "General Motors, Gazing at Future, Invests $500 Million in Lyft". The New York Times. January 4, 2016. Retrieved August 27, 2016.
- "Lyft and GM are expanding their car rental program into three more cities - Recode". Recode.net. Retrieved July 1, 2016.
- "GM, Lyft to Test Self-Driving Electric Taxis". The Wall Street Journal. Retrieved August 27, 2016.
- Kolodny, Lora (May 9, 2016). "Uber and Lyft 'pause' Austin operations today in standoff over regulation". TechCrunch. Retrieved August 14, 2016.
- MacMillan, Douglas; Silverman, Rachel Emma (May 9, 2016). "Uber, Lyft Shut Down in Austin Over Fingerprint Vote. Ride-hailing companies suspend operations in Austin". Wall Street Journal. Retrieved August 14, 2016.
- Tepper, Fitz (May 7, 2016). "Uber and Lyft shut down in Austin after voters defeat Proposition 1". TechCrunch. Retrieved August 14, 2016.
- Woodyard, Chris; Toppo, Greg (May 8, 2016). "Uber, Lyft halt Austin service after losing vote". USA Today. Retrieved August 14, 2016.
- "Lyft will now let you schedule trips ahead of time". Retrieved June 26, 2016.
- "Wal-Mart to Test Grocery Delivery With Uber and Lyft". The Wall Street Journal. Retrieved August 27, 2016.
- "Lyft Hires M&A Banker Qatalyst Partners". The Wall Street Journal. Retrieved July 1, 2016.
- "Lyft Is Said to Seek a Buyer, Without Success". The New York Times. Retrieved August 22, 2016.
- Newcomer, Eric; Wang, Selina (August 1, 2016). "In Deal With Didi, Uber Frees Itself to Expand in Other Markets". Bloomberg News. Retrieved August 14, 2016.
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- Korosec, Kirsten (6 September 2018). "Lyft launches its scooter business in Denver". TechCrunch. Oath Inc. Retrieved 6 September 2018.