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Uber and Lyft have similar business models as they both operate on a ride-sharing platform. However, there are a few key differences. Uber is a global company, operating in over 650 cities worldwide, while Lyft primarily operates in the US and Canada. This means Uber has a broader market reach than Lyft. Additionally, Uber has diversified its services to include things like food delivery (Uber Eats) and freight shipping (Uber Freight), whereas Lyft has primarily focused on expanding its ride-sharing services within its existing markets.
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Uber and Lyft debuted on the public market within two weeks of each other in 2019. Both IPOs were in the works for years and were long-awaited by investors. While today, Uber is available globally in over 650 cities and regions, Lyft is still only available in the US and Canada. But because of Lyft's regional focus, it is available in more US cities than Uber.
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