Lyft: $130M Generated For Los Angeles Economy In 2016

Ridesharing service Lyft said this morning that it has calculated that it has created $130M to the Los Angeles economy, as a result of its ride service. According to Lyft, a study conducted by the company by Land Econ Group finds that there was an increase in economic activity in Los Angeles due to its service, as a result of its rides. Lyft said the study also showed that passengers next year will save $88M in travel time value and over 7.5 million travel hours this year because of Lyft. Lyft's study examined 20 of its markets around the country.