• Reuters reports that "Lyft Inc said on Tuesday it was working on a new service to take a slice of the burgeoning food-delivery market as it works to make up for a 48% drop in quarterly revenue and a slow recovery of ride-hail demand.
"Unlike larger ride-hail rival Uber Technologies Inc , Lyft has no food-delivery business to fall back on amid the pandemic. That means that while Lyft is largely unable to offset the decline in trips, it also avoids Uber’s added costs in scaling its Eats business.
"But Lyft President John Zimmer on Tuesday said the company was looking to enter what it considered an untapped market by offering delivery services for restaurants without launching a full-fledged consumer-facing platform for food delivery."
