Aug 10, 2017

Lyft tries to boost growth while Uber is distracted

Josh Edelson / AP

Taking advantage of rival Uber's ongoing challenges (it's currently rushing to hire a new CEO and a slew of other execs), ride-hailing company Lyft has acquired two companies, YesGraph and DataScore, to boost its market growth.

What's in it for Lyft: Despite its claims of rapid growth, Lyft is still a distant No. 2 to rival Uber as far as market size. But with a recent injection of funds and a competitor currently distracted by internal matters, this may be its opportunity to use a heavy dose of tech to get ahead.

The companies: Founded in 2012 and with more than $2.30 million in total funding, YesGraph has built tools for app referrals best on a user's phone contacts. Lyft says that YesGraph's technology will help it improve its driver referral program—meaning helping it get better at recruiting new drivers. Then there's DataScore, which was founded in 2013, and provides consulting services and tools for customer growth to startups. Lyft declined to disclose the acquisition prices.

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U.S. cities crack down on protests against police brutality

Demonstrators gather at Lafayette Park across from the White House to protest the death of George Floyd in Washington, D.C. Photo: Yasin Ozturk/Anadolu Agency via Getty Images

Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of demonstrators gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

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George Floyd protests: What you need to know

Minneapolis police block protesters at a rally on May 30 outside the state house on the fourth straight day of demonstrations against the death of George Floyd. Photo: Megan Jelinger/Anadolu Agency via Getty Images

Police fired tear gas during a fourth straight night of protests in Minneapolis, video from the scene shows, as demonstrations over the death of George Floyd and other police-related killings of black men spread across the U.S. Saturday.

The big picture: Floyd's death in Minneapolis police custody is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

Trump to invite Russia and other non-member G7 countries to summit

President Trump at Cape Canaveral, Florida, on Saturday. Photo: Saul Martinez/Getty Images

President Trump told reporters on Saturday evening he would postpone the G7 summit to September and expand the meeting to more nations that are not members of the Group of 7.

Details: Trump said he would invite Russia, South Korea, Australia and India to the summit, according to a pool report. "I don’t feel that as a G7 it properly represents what’s going on in the world. It’s a very outdated group of countries," he said.