More than two dozen Bay Area tech companies are now covering the cost of Lyft rides for their employees to commute to and from work.
Through a new program from Lyft, called Lyft for Work, companies can issue employees a monthly credit that is applied to the cost of Lyft rides taken to and from work, work-related events or a public transit stop; as well as the ride cost for job candidates commuting to and from an interview. San Jose-based Adobe, and Yelp, Stripe, Thumbtack and Postmates, all based in San Francisco, are among the 29 tech firms that have joined the program, Lyft announced in a news release Thursday morning. Some companies are opting to use the program to get employees to and from holiday parties or work retreats, while others are offering the service to employees who work late at the office.
The partnership with these companies is a boost for Lyft, which has been in a drawn-out, public, pull-no-punches and at times downright dirty battle with Uber, the gorilla of on-demand ride apps and the most fierce competitor. With Lyft for Work, Lyft has earned the loyalty of at least a few high-profile and successful tech firms, not to mention what will likely be a significant business boost with all those employees taking rides.
Lyft has framed the program as a way to get single-passenger cars off the road, noting that 80 percent of workers nationwide drive alone. The average American has a commute of 50 minutes; in the Bay Area, a two-hour commute is common. Recently, Lyft launched Lyft Line, a carpool service in which Lyft drivers pick up coworkers going to the same office from nearby neighborhoods.
Lyft has raised more than $330 million, including a mega $250 million round from investors in April. Uber has raised $1.5 billion, the bulk of it in a $1.2 billion investment in June from mutual funds and big financial institutions, and is reported to be in talks to raise another billion.
Photo by Jose A. Iglesias/Miami Herald/MCT
