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<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='tab-interval:.5in'><div class=WordSection1><p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'>Thanks, Kevin. I rarely take cabs because of the cost, but there have been times when it is a necessity. I lucked out and the hospital my father was in only cost $8 one way by cab. I rarely could schedule rides because I didn’t know day to day what was going to happen.<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'><o:p> </o:p></span></font></p><p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'>Cindy s.<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 color="#1f497d" face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'><o:p> </o:p></span></font></p><div style='border:none;border-left:solid blue 1.5pt;padding:0in 0in 0in 4.0pt'><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><font size=2 face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";font-weight:bold'>From:</span></font></b><font size=2 face=Calibri><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman"'> Nfbk [mailto:nfbk-bounces@nfbnet.org] <b><span style='font-weight:bold'>On Behalf Of </span></b>Kevin Pearl<br><b><span style='font-weight:bold'>Sent:</span></b> Thursday, April 24, 2014 5:35 PM<br><b><span style='font-weight:bold'>To:</span></b> NFBK<br><b><span style='font-weight:bold'>Subject:</span></b> [Nfbk] L y f t, an Uber Alternative?<o:p></o:p></span></font></p></div></div><p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><o:p> </o:p></span></font></p><div><p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:12.0pt;mso-fareast-font-family:"Times New Roman"'>Lyft is now in Louisville and Lexington. <o:p></o:p></span></font></p></div><div><p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:12.0pt;mso-fareast-font-family:"Times New Roman"'><o:p> </o:p></span></font></p></div><div><div><h1><b><font size=3 face="Times New Roman"><span style='font-size:12.0pt;mso-fareast-font-family:"Times New Roman"'>Lyft Puts New Megabucks to Work: Launches in 24 Cities, Cuts Prices Again, Drops All Fees</span></font></b><span style='mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></h1><p class=date style='margin:0in;margin-bottom:.0001pt;box-sizing: border-box;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>April 24, 2014, 9:00 AM PDT<o:p></o:p></span></font></p></div></div><div><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Ride-sharing service Lyft has <a href="https://recode.net/2014/04/02/targeting-expansion-to-nyc-and-elsewhere-lyft-raises-250m-from-coatue-alibaba-and-third-point/"><span style='text-decoration:none;text-underline:none'>$250 million in the bank</span></a> in new funding. It’s not going to let the money just sit there.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Today it is launching in 24 more American cities, including Albuquerque, N.M.; Buffalo, N.Y.; and Oklahoma City, Okla. It is making all rides free in all 24 cities for the next two weeks. That brings Lyft to 60 total cities launched, all in the U.S.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Plus: On top of system-wide price cuts of up to 20 percent earlier this month, Lyft is chopping off an additional 10 percent in all its existing markets.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Plus: Lyft is passing those full fares onto its drivers, cutting its own revenue to zero for the foreseeable future.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>So basically: Hey Uber, two can play at this game.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Lyft’s well-funded rival Uber — which started out in the luxury black sedan business but moved into peer-to-peer ride-sharing — had over the past four months beaten up on Lyft in markets where they compete by <a href="http://blog.uber.com/uberXpricecut"><span style='text-decoration:none;text-underline:none'>cutting prices by up to 34 percent</span></a> and reducing its commission from 20 percent to 5 percent.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>But last week, Uber <a href="http://www.geekwire.com/2014/uber-adds-1-safe-rides-fee-passengers/"><span style='text-decoration:none;text-underline:none'>reinstated some of those commissions</span></a> and <a href="http://blog.uber.com/saferides"><span style='text-decoration:none;text-underline:none'>added a new “safe rides fee”</span></a> of $1 in American cities.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Sensing its opportunity, Lyft is zagging in the other direction — trying to reclaim its place as the cheap and friendly way to quickly find a ride across town.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“We were the most affordable, now we’re more affordable,” was Lyft co-founder and president John Zimmer’s message in an interview Wednesday.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Lyft has been working for the past year on making its operations easy to replicate. It no longer requires new drivers to come into its office to join the team; they now apply online, go through a background and driving record check, and get on the road. In each of the 24 new cities, the company has 50 to 100 drivers ready to go at launch, Zimmer said.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“A big demonstration of our peer-to-peer model is we don’t have offices in these cities. We’re not limited by that in any way,” he explained.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>As for Lyft deciding to throw tanker-loads of money into its business by passing full fares along to drivers in both new and old cities, giving away free rides in new cities and cutting prices in old ones?<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“We got the fundraise under our belt,” Zimmer explained. He said he didn’t know how long the promotions would last.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>It’s all about maintaining that friendly image. “While experimenting with demand, we will not take commission,” said Zimmer.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>The <a href="http://www.lyft.com/cities"><span style='text-decoration:none;text-underline:none'>full list</span></a> of new Lyft cities is Albuquerque, N.M.; Ann Arbor, Mich.; Buffalo and Rochester, N.Y.; Colorado Springs, Colo.; Corpus Christi, TX; Fairfield County and New Haven, Conn.; Fresno, Modesto and San Bernardino, Calif.; Jacksonville, Fla.; Kansas City, Mo.; Lexington and Louisville, Ky.; Lincoln and Omaha, Neb.; Memphis, Tenn.; Northern New Jersey; Oklahoma City and Tulsa, Okla.; Raleigh Durham, N.C.; Spokane, Wash.; Toledo, Ohio; and Virginia Beach, Va. Lyft has yet to launch internationally, though Zimmer said the company has plans to after raising some of its latest funding from Chinese e-commerce giant Alibaba.<o:p></o:p></span></font></p><p style='box-sizing: border-box;margin:1.25rem;text-rendering: optimizelegibility'><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><a href="http://www.lyft.com/">http://www.lyft.com/</a><o:p></o:p></span></font></p><div id=jp-post-flair><div><div><div><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo1;tab-stops:list .5in'><font size=3 face="Times New Roman"><span style='font-size:12.0pt;mso-fareast-font-family:"Times New Roman"'><o:p> </o:p></span></font></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo1;tab-stops:list .5in;box-sizing: border-box;float:left'><font size=3 face="Times New Roman"><span style='font-size:12.0pt;mso-fareast-font-family:"Times New 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