Lyft recently acquired a startup company named Halo Cars, which specializes in ads that run on top of ride-hailing vehicles. Before the purchase, those who drove with the ads would receive $400 per month. The rideshare company did not indicate what plans it has for Halo Cars, however, some speculate that the startup will be integrated into Lyft's media operations.
However, Lyft could also use the startup to place ads on more cars, as before the purchase Halo Cars was only operating in two cities. The taxi industry was able to benefit from ads on cars, and the added revenue could significantly impact Lyft's bottom line, and potentially even bring the company into profitability.
Image Credit: Halo Cars