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Lyft drops ride rates in response to Uber, plans to expand locations

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Lyft's taking a tried-and-true approach in an attempt to pirate Uber/Sidecar/other ride-sharing regulars: it's lowering fares everywhere it's available. The company's offering rides for 20 percent less than usual (mirroring Uber's price cuts earlier this year), all thanks to the $250 million funding it secured last week. Apparently, all that money enables the company to forego charging its standard commission rate -- for now, at least -- in an effort to attract new customers. Lyft's not going to spend every cent it got on this particular project, though: it also plans to use the money to expand to more locations in the future. The service with a penchant for fluffy pink mustaches didn't mention how long this promo will last, but anyone interested in a nice discount (and who isn't?) should check the adjusted fares on the company's website.

[Image credit: Sergio Ruiz/Flickr]

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