2/21, 9:12 PM (Source: TeleTrader)
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Chart for: Lyft

Lyft buys car-top advertising startup

Lyft Inc. bought Halo Cars, a startup that lets drivers earn money by putting digital advertisements on top of their vehicles, the company confirmed to Axios on Friday. The ride-hailing company, however, declined to comment on the financial aspect of the deal.

Halo Cars was founded in 2018 and is currently operating in New York City and Chicago. Both Lyft and its bigger rival Uber's drivers use the technology.

Lyft's stock was down 1.76% as the session drew to a close, trading at $44.67 per share.

Breaking the News / GG