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Lyft is expanding beyond the US for the first time with service in Toronto

  • Lyft announces plans to expand its service to Toronto in time to "help ring in the holidays."
  • Lyft has long been trying to carve out an equal share of the American ride-hailing market, but has struggled to match Uber.
  • Both companies have reportedly been eyeing IPOs, which could provide another frontier for competition as Wall Street weighs in on valuations.
Mike Coppola | Getty Images

The ride-hailing war between Uber and Lyft is moving international for the first time, with Lyft soon offering rides in Toronto, its first expansion outside the U.S.

Lyft announced plans on Monday to expand its service to Toronto in time to "help ring in the holidays."

"From brunch in Bloordale and belly laughs on Mercer St to polishing off some late-night poutine at your favourite burger joint out in Woodbridge, we know Toronto is the place to be," the company said in a statement, employing Canadian spellings to mark the occasion.

Lyft has long been trying to carve out an equal share of the American ride-hailing market, but has struggled to match up against Uber.

Both companies have been eyeing IPOs, which could provide another frontier for competition as Wall Street weighs in on valuations.

Uber this weekend announced a plan to sell a stake to Japanese investment firm Softbank, potentially expediting the public offering.