Lyft Finally Expands Beyond Ridesharing

With demand in the ridesharing industry getting broadly crushed due to lockdowns and other coronavirus containment efforts, Lyft (NASDAQ: LYFT) has at long last decided that it's time to expand beyond that core offering. The company yesterday announced a new service called Essential Deliveries, which is pretty much exactly what it sounds like. As part of a new pilot program, the company will tap its army of drivers to help deliver essentials like meals, groceries, medical supplies, and other staples like hygiene products or other basic necessities.

Larger rival Uber (NYSE: UBER) has long offered services outside of just ridesharing; it's about time Lyft did likewise.

The coronavirus has destroyed demand for ridesharing. Image source: Lyft.

Source Fool.com