SAN FRANCISCO - Lyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc for years by cultivating an image of caring more for its drivers, riders and the environment. As the company debuts in the stock market on Friday, it hopes to convince investors the “nice guy” image will pay off.
Lyft exceeded market expectations with its initial public offering on Thursday, raising $2.34 billion and fetching a valuation of $24 billion. Some of Lyft’s gains are due to Uber’s woes. The latter is still recovering from a series of scandals in 2017, including allegations of sexual harassment made by female employees, the forced resignation of its chief executive officer and the departure of other senior executives, and its use of illicit software to deceive regulators.
Lyft’s branding as a warmer, more caring alternative to Uber dates back to its launch in 2012. It borrowed marketing strategies from Southwest Airlines Co and Starbucks Corp, hoping to portray itself as friendly and customer-centric, and likened itself to the championship Golden State Warriors pro basketball team, according to Lyft executives.
Both same thing... both fake “contractor drivers” and sell the more expensive app in human history
Uber 🔜 lyft Merger & Acquisition ..., and they lived happily ever after 🖤💖