Lyft, best known as Uber’s main competition in the US, is hoping to leverage its alliance with Chinese ride-hailing giant Didi Kuaidi to help it rise to dominance in the American ride-hailing market within two years. Despite very different valuations (Lyft is valued at $62.5bn, while Uber is valued at $5.5bn), Lyft’s co-founder, John Zimmer, feels Lyft’s collaboration with Didi is the key to success in America as Didi users in China are now able to hail Lyft cars when they visit the US, and vice-versa. Zimmer stated that millions of people travel between China and the US every year, “and the numbers are rising at an annual rate of 20 percent".
Lyft, best known as Uber’s main competition in the US, is hoping to leverage its alliance with Chinese ride-hailing giant Didi Kuaidi to help it rise to dominance in the American ride-hailing market within two years. Despite very different valuations (Lyft is valued at $5.5bn, while Uber is valued at $62.5bn), Lyft’s co-founder, John Zimmer, feels Lyft’s collaboration with Didi is the key to success in America as Didi users in China are now able to hail Lyft cars when they visit the US, and vice-versa. Zimmer stated that millions of people travel between China and the US every year, “and the numbers are rising at an annual rate of 20 percent".