Expansion to Spurn More Competition
From the time we’re young, we’re taught that competition is a good thing. We compete in school to get better grades so that we can go to a good college, we compete in athletics to try and win games and show off our prowess on the court and on the field, we compete at nearly everything from eating to science and all that comes in between. If you watch a room full of people for a little while, it’s likely you’re going to see some form of competition going on at all times whether it’s being able to tell the best stories or being able to drink the most during the time spent in the evening together.
People can’t help competing with each other, its natural and a part of the life that we enjoy on a daily basis. In business we always have some competition, even in a new industry. When you’re the first to do something you get to have a bit of a head start over others, but eventually those others are on your heels and working hard to compete with you on your level and to eventually find a way to take over and take your market from you.
Such is the case in the ride sharing industry. The most popular name when it comes to ride sharing is Uber, but Uber has grown and expanded to the point of being in nearly every city in the country already and is looking for new ways to continue to grow and expand. During this time when Uber isn’t growing as fast as it once did, another company is coming up on its heels in order to compete and take away as much of the market share from Uber as possible. That company is Lyft.
Lyft is a ride sharing service that has been growing over the past few years and now has been aligned with GM. This company is only nearly five years old, but since GM invested half a billion dollars into Lyft in 2016 this ride sharing company has been on the rise. The investment from GM has helped to grow the mobility apparatus of Lyft and work to develop autonomous programs, which Uber already has begun offering in some cities. This could be the partnership that will give Lyft the lift they need to grow beyond what Uber has already become.
Most recently, Lyft announced it will expand its services into another fifty cities in the US. This comes only a month after the company added forty cities just a month earlier. These new cities span the entire country and include places like Iowa, City, IA, Ocala, FL, Topeka KS and Flint, MI. There is a complete list on the Lyft blog that’s linked below that shows the expansion and the cities this new ride sharing company will be entering into over the course of the next few months. It seems the folks at Uber have some stiff competition headed their way and they need to be prepared for Lyft to be the ride sharing choice of many.
On a side note, while we’ve either loathed or lauded Uber over the course of the past few years for the fact that this company doesn’t seem to be bothered by governmental regulations or by the desire of some to keep them out of their cities, Uber has garnered more negative press than Lyft. Whether that means Uber is doing the dirty work and getting themselves into the fray while Lyft sits back and waits is yet to be determined, but it seems as though Lyft is more apt to do things the right way when moving in and offering services in a new city.