When you think of ride-hailing, Uber Technologies Inc. (NYSE: UBER) likely comes to mind, followed by the distant second player in the duopoly, Lyft Inc. (NASDAQ: LYFT). The ride-hailing/rideshare market is a two-horse race. There's Uber and Lyft, and then everyone else.
It’s not a very close race either, as Uber controls a 76% market share in the United States. However, Lyft is taking a page out of Uber’s playbook as it attempts to grow its market share outside of the United States. Its acquisition of the FreeNow mobility platform from German automotive behemoths BMW Group (OTC: BMWYY) and Mercedes-Benz Group AG (OTCMKTS: MBGAF) marks its foray into Europe with access to 19 countries.
