Founded in 2012 by John Zimmer and Logan Green, Lyft is a privately-held American transportation network company. Lyft provides a mobile phone application that facilitates peer-to-peer ridesharing by allowing passengers who need a ride to request one from available community drivers.
The company says that its ride service costs approximately 30 percent less than the price of a similar cab ride. Users are required to sign up for the service through their Facebook account, and drivers and passengers rate each other on a five-star scale after each ride to establish reputations within the network.
Originally known as Zimride, Zimmer and Green changed the name to Lyft in May 2013. Lyft cars are recognizable by the pink, fuzzy mustache that drivers place on the front. In June 2013, Lyft completed a $60 million Series C venture financing round led by Andreessen Horowitz; other investors included Founders Fund, Mayfield Fund, K9 Ventures and Floodgate.