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The ride-share industry has run into some bumps along its path to remaking the business of transportation around the world.
The sector’s already tense competition only heated up in recent weeks as China’s Apple-backed Didi Chuxing scored a record $5.5 billion funding round after effectively blocking Uber’s mainland expansion efforts. Gett also acquired smaller rival Juno for $200 million.
While Uber, Travis Kalanick’s once-indomitable market leader, stumbles from one crisis to another—the latest being a federal investigation of its “Greyball” software program—perennial underdog Lyft sees an opportunity to position itself as a socially conscious alternative in a crowded, cutthroat field.