Lyft buys digital car-top advertising startup Halo cars in shot to profitability



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Lyft buys digital car-top advertising startup Halo cars in shot to profitability

On Friday, the 21st of February 2020, the San Francisco, CA-based smaller rival of ride-sharing pioneer Uber Technologies Co., Lyft Inc., which has still been bleeding heavy money and vying to vent out a way towards profitability, confirms that it had purchased the US-based digital car-top advertising start-up Halo Cars that allows drivers to make money by displaying digital advertisements on top of their vehicles.

If truth is to be told, although two of the most dominant forces in the ride-hailing industry, Uber Technologies Inc. and Lyft Inc., had separated their courses en route to profitability, none of their ventures had yet to conceive fruits, while a number of analysts had welcomed the latest Lyft Inc.

decision to purchase the digital car-top advertiser saying the buyout deal would likely to aid the smaller Uber rival at its pursuit of profitability. Nonetheless, the deal which was first reported by the Axios, an American news website founded back in the 2016s, could not reveal the financial terms of the deal, while a Lyft Inc.

spokeswoman had also declined to comment over financing of the Halo Cars buyout bid. In tandem, founded back in the 2018s, Halo Cars has operations in a number of larger US cities likes of New York and Chicago.