Ride Hailing Apps

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Lyft investors are banking on self-driving cars, not ride-sharing

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Lyft became the first ride-hailing app to go public on Friday, skyrocketing to a $23.4 billion valuation.

But don’t get too excited for drivers. Investments in Uber and Lyft are basically big bets on future products like autonomous vehicles, not the people behind the wheel. 

As we’ve seen, Lyft isn’t profitable. Last year it lost nearly $1 billion. So it’s not Lyft’s cash flow bringing in investors — it’s the company’s growth and the potential of its platform. 

“Wall Street is infamous for caring more about growth than profits,” said Investing.com senior analyst Clement Thibault in an email. “Lyft is likely to get a pass on profitability if it can manage to continue its impressive growth streak.” Read more…

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Lyft will let you round up the cost of your ride and donate the rest to charity

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Lyft is building on its good PR streak with a new way to donate to charity. 

Riders who #DeletedUber or just really like Lyft will be able to round up the cost of their ride to the nearest dollar and donate the rest to charity.

Lyft users can’t choose exactly which charity, but they do get the option to look through causes including the environment, veterans and LGBTQ equality. 

To start donating, you have to opt into Round Up & Donate in the app’s settings. Then every ride will be rounded up, with the change distributed across good causes. You can always opt out, but donating is not decided per ride.   Read more…

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Tourist-friendly Indonesian city bans all ride-sharing services, including Uber

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Ride-hailing services might soon be a thing of the past in one Indonesian city.

Tourist-friendly Yogyakarta said all ride-hailing services including Uber, Grab, Go-Jek and Go-Car would soon be banned across the city.

The ban is expected to kick in as soon as this week.

“The regulation is being processed and will be done within a week. We will take action in accordance with the regulation,” Yogyakarta Transportation Agency (Kopetayo) Head Gatot Saptadi told the Jakarta Globe on Friday.

The announcement comes following a riot in Yogyakarta earlier last month, with some 300 taxi drivers calling for the ride-sharing apps to be banned. Read more…

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Malaysia says it'll seize motorcycles being operated as ride-sharing vehicles

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A hot fledgling motorcycle taxi hailing service has hit a wall in Malaysia, after barely getting on the road.

Dego Ride found itself effectively banned from Malaysian streets on Friday, after regulators threatened to seize motorcycles belonging to people offering rides on their vehicles, local news reports say.

The penalty is an unusually stiff one, compared with other countries which have typically issued fines to unauthorised drivers from ride-sharing apps.

A director for the Road Transport Department said that over 6,000 motorcycle riders were registered with Dego Ride in the Klang Valley — an area surrounding Malaysia’s capital of Kuala Lumpur. Read more…

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Indonesia's largest fleet of taxis teams up to beat ride-hailing apps

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There is a war being waged for Jakarta’s nine million commuters, and the country’s largest traditional taxi company just made a huge play to counter the rising threat from the ride-hailing competition.

Blue Bird, which runs a fleet of 23,000 taxis across the country, announced on Thursday it was teaming up with another big traditional player, Go-Jek.

Go-Jek, which dominates the motorcycle taxi market, has expanded in recent years to cars, under its Go-car feature. 

The move is a strategic one, aimed at tackling a big announcement also made on Thursday by Grab, the reigning ride-hailing app. Read more…

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