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Lyft Invests $100 Million in Its Drivers

TechCrunch (May 23, Dickey) confirms that Lyft is committing $100 million to better support its drivers.  According to the publication, "the company is specifically putting this money toward cheaper oil changes, basic car maintenance, serviced car washes, and more."  In addition, Lyft will nearly double its operating hours at its driver hubs in 15 cities nationwide.  The goal is to help drivers make more money and maximize their earnings by offsetting the costs of driving.  Also, Lyft expects to more than double its driver base over the next five years. The company currently has around 1.4 million drivers, according to its latest economic impact report.

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