Shares of Lyft rose more than 2% after hours.
As part of the deal, Lyft and Woven Planet will work together on enhancing automated driving technology safety, according to a release. Not only will this transaction allow Lyft to focus on advancing our leading Autonomous platform and transportation network, this partnership will help pull in our profitability timeline, Lyft Co-Founder and President John Zimmer said in a statement.
The company expects the deal will remove $100 million of annualized non-GAAP operating expenses on a net basis, according to the release. Because of that, Zimmer added that if the deal closes when expected in the third quarter and recovery from the pandemic continues, Lyft expects to become profitable on an adjusted EBITDA basis in Q3.
Toyota s Woven Planet Buys Lyft s Self-Driving Car Division For $550 Mln
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Delta partners with Lyft to support vaccine access by funding rides for those in need
delta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from delta.com Daily Mail and Mail on Sunday newspapers.
03/17/2021 Hilton, and Delta Air Lines Partner with Lyftâs Vaccine Access Campaign to Promote Funding Vaccine Rides for Those in Need
Lyft, Inc. announced new partners are joining its nationwide campaign to support access to the coronavirus vaccines. Two of Lyftâs largest loyalty programs,Â
Hilton andÂ
Delta Air Lines, are working with Lyft and, alongside founding partners,Â
JPMorgan Chase and others, will mobilize their members to provide access to rides to vaccination sites to those in need. With the help of these and other partners, Lyft is offering individuals a way to support others on their journey to get vaccinated.
Operator
Good afternoon and welcome to the Lyft Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the conference over to Shawn Woodhull, Head of Investor Relations. You may begin.
Shawn Woodhull
Head of Investor Relations
Thank you. Good afternoon and welcome to the Lyft earnings call for the quarter ended December 32st, 2020. Joining me today to discuss Lyft s results and key business initiatives are our Co-Founder and CEO, Logan Green; Co-Founder and President, John Zimmer; and Chief Financial Officer, Brian Roberts. A recording of this conference call will be available on our Investor Relations website at investor.lyft.com shortly after this call has ended.