LYFT
LYFT Inc (NASDAQ:LYFT) traded higher after signing strategic partnership with Juno, which is shutting down its ride-share operation in NYC. Gett, the global leader in corporate on-demand transportation, just announced the closure of its New York rideshare business, Juno, effective today, which can work as a boon for Lyft because Gett also announced a strategic partnership with Lyft to enable its corporate clients to access rides in the United States beginning next year.
As a corporate transportation leader, Gett serves over 15,000 companies, including a third of the Fortune 500. Through the Lyft partnership, Gett's corporate customers traveling in the United States will be able to request rides through the Gett app and be matched with a driver on the Lyft network. This partnership will allow Gett to expand its reach across the United States, seamlessly serving its business clients on the Lyft network, all through Gett's SaaS platform for business travelers.
Juno is shutting down in New York today as a result of both Gett's increased focus on the corporate transportation sector and the enactment of misguided regulations in New York City earlier this year. All Juno riders will be invited to join Lyft.
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