It's been a good week for Lyft. Today, the ride-sharing service launched a new product in San Francisco and also got the go-ahead to continue operations in Virginia.
Designed to let passengers split fares, Lyft Line was developed with help from the team behind Rover, a startup that attempted to include all transportation options in one place, TechCrunch reported.
Lyft Line, which is available for San Francisco riders, will be seen as an option in the Lyft app when customers are looking for a ride. Passengers can select starting point, end point and number of people who are riding together. The company estimates that fares can be as much as 60 percent less depending on direction.
After consumers confirm a ride, Lyft will try to match up each passenger to another who is headed in the same direction, something the company says should happen often.
Around 90 percent of Lyft rides can be matched with a passenger heading in generally the same direction within five minutes, according to Lyft CEO Logan Green.
Both Uber and Lyft have reached a temporary agreement with Virginia officials following cease-and-desist letters issued to the companies in June, the Associated Press reported. The ride-sharing services didn't have the proper licenses to operate, according to state officials.
"These companies offer services that Virginians want, but it just wasn't acceptable for them to operate without complying with regulations or other measures to help ensure the safety of passengers and motorists," state Attorney General Mark Herring said in a statement. "Because of this cooperation, Virginians are going to have more transportation options that are safer, more transparent, and appropriately regulated."
The Virginia Department of Motor Vehicles has given operating authority to Uber and Lyft on certain conditions. The companies must fulfill requirements that include "conducting background checks for drivers, documenting their rates and meeting rigorous insurance requirements," the AP reported.
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