Lyft to drive into Canada in first international foray: Reuters

Ride-hailing company Lyft Inc said this week it would launch its service in Toronto, marking the first international expansion for the U.S.-based rival of Uber Technologies Inc, Reuters reported. "Before you know it, Lyft will be coming to you live in Toronto," the company said in a blogpost, without giving a launch date. Lyft is crossing into Canada at a time when rival Uber has opted out of operating in Québec to avoid following tough new regulations for drivers. Lyft raised US$1 billion in October, in a round led by the growth investment fund of Alphabet Inc. One of the company's investors is Canada's Public Sector Pension Investment Board (PSP Investments).

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