In its market debut, Lyft counters Uber with ‘nice guy’ image

Lyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc for years by cultivating an image of caring more for its drivers, riders and the environment. As the company debuts in the stock market on Friday, it hopes to convince investors the “nice guy” image will pay off.

“In the early days, people misunderstood, ‘Oh you guys are the nice guys. You guys are going to get crushed by a more competitive player,” Lyft President and co-founder John Zimmer told Reuters.

“We said, ‘No, we’re very competitive but treating our employees well, treating our drivers well, treating the local communities that we work with respect, which is also very good for business.”

Lyft exceeded market expectations with its initial public offering (IPO) on Thursday, raising $2.34 billion and fetching a valuation of $24 billion.