Tag: Lyft

  • Changes at Lyft Board

    Changes at Lyft Board

    Lyft announced significant changes to its board of directors last Friday. Mary Agnes Wilderotter and Valerie Jarrett resigned due to “other professional responsibilities.” The company was quick to clarify that the resignations were not due to any disagreements regarding Lyft’s operations or policies. In their place, the board appointed Prashant Aggarwal as chair of the…

  • Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Inc. has settled a $10 million fine with the SEC for not disclosing a board director’s role in a share sale involving billionaires Carl Icahn and George Soros, just before the company’s 2019 IPO. The director, identified as Jonathan Christodoro, helped Icahn sell a 2.6% stake in Lyft to Soros at a discounted rate.…

  • Lyft was wrong on driverless vehicles

    Lyft was wrong on driverless vehicles

    Lyft co-founder once predicted in 2021, most rides would be self-driving. That’s really ambitious and maybe COVID-19 got in the way but we are nowhere near that state of things. In 2016, Lyft co-founder John Zimmer predicted most of the company’s rides would be self-driving within five years, a transformation that would largely eliminate the…

  • Lyft shuts down in-house rentals

    Lyft shuts down in-house rentals

    I didn’t see this coming. Lyft Rentals is shutting down less than three years after it opens. Lyft is shutting down its in-house car rental program Lyft will stop renting out cars from its own fleet and has laid off around 60 employees, according to The Wall Street Journal. As TechCrunch notes, the layoffs have also been confirmed by…

  • Lyft doing pretty well with Rentals

    Lyft doing pretty well with Rentals

    Little known is Lyft doing consumer rentals much like Hertz. This play differs from Uber which chose to partner with Hertz and Sixt for their rentals. Currently Lyft Rentals is super conveniently located in Mission. Will be interesting to see how this pans out as a business. Update: Lyft has shut down their in-house rentals.