They are doing this to encourage users into ditching the uber app in favor of Lyft and to tack on additional rides from users who may have otherwise hesitated to dole out the cash. After all, a $13 ride isa lot different from a $7 ride.
The competing ride-hailing giant was not gonna be left behind, they also went ahead to unleashed a hefty dose of discounts to keep riders on its app.
Uber, of course, is also in IPO registration, expected to debut on the public markets in the first half of 2019, likely one or two months after Lyft. Lyft wad recently valued at $15 billion and is expected to garner a valuation north of $20 billion with it highly anticipated debut. On the other hand the big dogs uber was last valued at an amazing $72 billion and is expected to surpass the $100 billion upon it IPO.