Lyft App is an American transportation network company based in San Francisco, California. The company was launched in 2012 by Logan Green and John Zimmer, Lyft's mobile-phone application facilitates peer-to-peer ridesharing. This is done by connecting passengers who need a ride with Lyft App drivers who have a car.
Lyft now operates in over 200 U.S. cities, including San Francisco, Los Angeles, and New York City, and is valued at $5.5 billion. As of January 2016, Lyft had raised more than $2 billion. Lyft investors include General Motors, Andreessen Horowitz, Coatue Management, and Third Point Ventures. More Information
Lyft App was launched in the summer of 2012 by Logan Green and John Zimmer. The app was first called Zimride, a ridesharing company the two founded in 2007. Zimride focused on ridesharing for longer Lyft trips, often between cities. The early version linked drivers and passengers through the Facebook Connect application. Zimride eventually became the largest rideshare program in the United States. Windows app.
Lyft launched as an on-demand ridesharing network for shorter trips within cities. Similar to Zimride, the new app connects drivers with cars to passengers that need rides. Drivers and passengers rate each other on a five-star scale after each ride. These ratings establish the reputations of both drivers and passengers within the network.
In order to take advantage of the Lyft App system, clients must set up an account that links directly to a funding source. This is usually a debit card or PayPal account. Once the Lyft App ride is completed, funds are debited from the funding source. Lyft then retains approximately 20% (from drivers who applied before January 2016) and 25% (from drivers who applied after January 2016) of this total as business revenue. This amount that has been called "parasitic" by critics. More Information