Lyft Urban Solutions takes a hit from streamlining strategy

The shared mobility sector is evolving rapidly in the wake of growing environmental concerns, urban congestion, and digital advances. Many cities are making private car ownership increasingly difficult, further spurring the rise of alternatives such as ride-hailing and bike-sharing. Lyft has emerged as one of the leading players in this shared mobility ecosystem and is currently the second largest ride-hailing company in the US. It also plays in the micromobility sector, offering bike and scooter sharing through its app, and it’s this business that is about to undergo significant restructuring.