Lyft announced on Monday that it had raised $500M from General Motors, half of its latest $1 billion financing round. As part of this investment, Lyft will also work on developing an on-demand network of self-driving cars with G.M.
From left, Logan Green, chief executive of Lyft; Daniel Ammann, president of General Motors; and John Zimmer, president of Lyft. Photo credit: Lyft.
While this fundraising means that Lyft – with a new valuation of $4.5 billion – can continue to be competitive with Uber, many drivers had strong reactions to this partnership.
The Lyft – General Motors Investment
G.M.’s investment in Lyft is much more than financial support, but rather a “strategic alliance” as described by G.M.’s president, Daniel Ammann. Mr Amman is also joining the board of Lyft.
In an email to drivers this morning, Sidecar announced that “effective December 31st at midnight, Sidecar will cease rideshare and delivery operations”. The email said that this effective shutdown is “in order to pursue other strategic opportunities”.
Traffic at LAX where Lyft drivers will be allowed to pick up passengers started at 8am today. (Luis Sinco / Los Angeles Times)
Drivers are cleared for pickups at Los Angeles International Airport starting today
Yesterday, Lyft announced that it will be cleared for passenger pickups at Los Angeles International Airport starting at 8am today. Here’s what you need to know before you pull up and attempt to pickup the hordes of holiday travelers.
Before you take your first trip, you’ll need an airport placard
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