Timeline of Lyft

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This is a timeline of Lyft, a car-hailing platform

Big picture

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.

Full timeline

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.[1]
2013 January Funding Lyft raises $15 million in Series B led by Founders Fund.[2]
2013 January 30 Expansion Lyft expands to Los Angeles.[3]
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.[4][5]
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.[6]
2013 October 3 Expansion Lyft announces its expansion to Silicon Valley.[7]
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.[2]
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.[8]
2014 July 24 Expansion Lyft launches in New York City.[9][10] 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.[11]
2014 August 4 Product Lyft announces Lyft Line, a carpooling service that lets multiple people ride together when they share a common route.[12]
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.[13][14]
2014 November 4 Legal Lyft accuses former COO Travis VanderZanden (who left Lyft for Uber) for breach of his confidentiality agreement and fiduciary duty.[15] This lawsuit is settled by June 2016.[16]
2015 March Funding Lyft raises a $530 million Series E investment led by Japanese online retailer Rakuten Inc.[2]
2015 March Product Lyft announces Lyft Carpool, which lets it go back to its Zimride routes, by allowing passengers to carpool outside of city limits.[17]
2015 May Funding Lyft raises $150 million in second Series E led by a $100 million investment from Carl Ichan. This increases the total raised to over $1 billion and the valuation to $2.5 billion.[2][18][19]
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.[20]
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.[21]
2015 September 30 Company Lyft announces its second engineering hub in Seattle.[22]
2015 December International Lyft's alliance grows to include leading ride-sharing services in Southeast Asia (Grab) and India (Ola).[20]
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.[2][23]
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.[24]
2016 May 23 Product Lyft announces that it will now allow users to schedule trips ahead of time.[25]
2016 June 27 Partnerships Lyft announces that it has been working with Qatalyst Partners LP, in exploring its options for a future acquisition.[26]

See also

References

  1. ^ Farr, Christina (23 May 2013). "Lyft team gets $60M more; now it must prove ride-sharing can go global". VentureBeat. Retrieved 17 July 2013.
  2. ^ a b c d e "Lyft". Retrieved June 26, 2016.
  3. ^ "Lyft Strikes Deal With California Regulator To Remove Fines, Expands Its Ride-Sharing Service To LA". Retrieved July 1, 2016.
  4. ^ Green, Tomio (23 May 2013). "Lyft Raises $60 Million As Ride Sharing Competition Heats Up". Forbes. Retrieved 17 July 2013.
  5. ^ Lagorio, Christine and Markowitz, Eric (23 May 2013). "Lyft's New $60M: How the Deal Went Down". Inc. Magazine. Retrieved 17 July 2013.{{cite web}}: CS1 maint: multiple names: authors list (link)
  6. ^ Gannes, Liz (12 Jul 2013). "Lyft Sells Zimride Carpool Service to Rental-Car Giant Enterprise". All Things D. Retrieved 17 July 2013.
  7. ^ "Lyft Is Expanding Its Ride-Sharing Service To Silicon Valley". Retrieved July 1, 2016.
  8. ^ "Lyft Launches In 24 New Markets, Cuts Fares By Another 10%". Retrieved July 1, 2016.
  9. ^ CHRISTINE LAGORIO-CHAFKIN (25 July 2014). "Lyft in New York City: Let's Try This One More Time". Inc. Monsueto Ventures. Retrieved 27 July 2014.
  10. ^ Associated Press (27 January 2015). "Lyft drops pink furry mustache, debuts 'glowstache'". New York Post. New York Post. Retrieved 2 June 2015.
  11. ^ "Lyft and Uber in New York: Only one is facing a restraining order". Slate.com. Retrieved July 1, 2016.
  12. ^ "With Lyft Line, Passengers Can Split Fares For Shared Rides". TechCrunch. Retrieved July 1, 2016.
  13. ^ "Is Uber Operation Slog Legal - Business Insider". Businessinsider.com. Retrieved July 1, 2016.
  14. ^ "Uber CEO On Messing With Lyft's Funding - Business Insider". Businessinsider.com. Retrieved July 1, 2016.
  15. ^ "Lyft Accuses Former COO Of Stealing Confidential Documents Before Joining Uber". Retrieved July 1, 2016.
  16. ^ "Lyft, Uber settle lawsuit that might have aired sensitive details - Silicon Valley Business Journal". Bizjournals.com. Retrieved July 1, 2016.
  17. ^ "Lyft gets back to Zimride roots with Lyft Carpool". TechCrunch. Retrieved July 1, 2016.
  18. ^ Jason Redmond (12 March 2015). "Latest Rakuten-led funding values Lyft at $2.5 billion". Reuters. {{cite web}}: |access-date= requires |url= (help); Missing or empty |url= (help) http://www.reuters.com/article/2015/03/12/us-lyft-financing-idUSKBN0M80DJ20150312
  19. ^ Etherington, Darrell (15 May 2015). "Lyft Raises An Additional $150M, Including $100M From Carl Icahn". TechCrunch. TechCrunch. Retrieved 2 June 2015.
  20. ^ a b "Lyft To Uber: The Race Is On". Fastcompany.com. Retrieved July 1, 2016.
  21. ^ Buhr, Sarah (September 16, 2015). "China's Didi Kuaidi Put $100M Into Lyft, Inks Ridesharing Alliance To Rival Uber". TechCrunch. Retrieved October 18, 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  22. ^ "Lyft Announces Second Engineering Hub In Seattle". Retrieved July 1, 2016.
  23. ^ "General Motors Invests $500 Million in Lyft, Sees A Self-Driving Future". Retrieved 2 June 2016.
  24. ^ "Lyft and GM are expanding their car rental program into three more cities - Recode". Recode.net. Retrieved July 1, 2016.
  25. ^ "Lyft will now let you schedule trips ahead of time". Retrieved June 26, 2016.
  26. ^ "Lyft Hires M&A Banker Qatalyst Partners". The Wall Street Journal. Retrieved July 1, 2016.
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