Lyft is looking forward for a potential entry to the London Market as it presently holds discussions with Transport for London City Hall executives over the recent periods.

As stated in reports, the freedom of information records shows that the company is indeed showing an interest to enter the London Market however it does not specifically note that it will indeed enter the expanse. The interest rooted from the city’s transport policy which also added to the fascination to enter London.

Such information was revealed after the TFL refused to renew the license of Uber in London which of course, had a negative effect to the carpool company generally.

In further details, Uber will not be able to operate in the British City had it failed to appeal for the TFL in which, did happen for the company. With such happening, rivaling companies will theoretically enter the market to take advantage of the potential customers in London alone. According to reports, Uber had 40,000 drivers and 3.5 million customers in the said city.


A Lyft Car In New York City, USA

Back in 2016, reports revealed that Mike Masserman & Raj Kapoor have had personal and phonecall discussions with TfL officials. These two are the head of global strategy and chief strategy respectively.

Additionally, the discussions were mostly centered on startup’s commercial structure and operations. The London mayor’s innovative transport policy for the city was also included in the talks. The meetings were attended Helen Chapman and Peter Blake. They are the TfL’s taxi and private hiring unit head and director of service operations for surface transport correspondingly.

More so, there were also three unnamed officials of the Greater London Authority who attended the meetings.

However, Lyft right now is not a listed as a business in the U.K. The company also does not have a private hire license which is a necessity to fully operate in the country. Not only that, Lyft may also face some disapproval from taxi legislatures and lawmakers once a pitch has been made. Those officials may perhaps be apprehensive about such entry because that new service would only append to the London’s traffic jams.

Furthermore, Lyft has refused to comment on the said news. With the current issues of Uber however, Lyft could still potentially enter the London Market given the existing circumstances.

Read about UBER’s case here.

FSM News is a daily updated news website about the happenings in the stock market, financial realms and the world economy. Subscribe to further educate yourself about the field that you are to partake in. FSM News is here for you.