Lyft, Inc. (NASDAQ: LYFT) today announced Alcove, a new, differentiated global chauffeur network. Alcove will pair world-class, high-touch service with experienced teams and new technology that make corporate ground transportation easier to book and manage. In addition to current TBR Global Chauffeuring customers, Alcove will serve new corporate travel programs, bookers, and passengers around the world, which is expected to bring incremental Gross Bookings and strong margins to Lyft.

High touch meets high tech

Alcove will combine TBR’s three decades of operating experience and top-tier service standards with new technology capabilities. Building on TBR’s existing expertise, Alcove will support complex and high-profile trips, including VIP travel, events, and journeys involving multiple vehicles or extended bookings.

In early 2027, Alcove will debut a new portal to make booking and managing trips easier; initially the portal will be open to managed business account customers, with self-service access and a mobile app to follow later in the spring. Additionally, Alcove will continue to support customers through experienced service teams and other channels, including direct corporate and travel management company (TMC) relationships.

Expanding Lyft’s premium mobility capabilities

Alcove marks another step in Lyft’s expansion beyond on-demand rideshare, extending the company’s reach into a global chauffeur market worth tens of billions of dollars. While Alcove will be a separate brand, Lyft Business customers will also be able to access its services.

“Lyft is moving up and out, creating customer-obsessed products up and down the value chain and in more places around the world. Alcove supercharges that strategy,” said Lyft CEO David Risher. “Great chauffeurs go above and beyond, and with Alcove, we are excited for more people to experience the highest levels of service. Like the bridge instead of the tunnel? Prefer 72 degrees? Want the rear window open just a bit? That’s what Alcove will offer.”

Making global ground transportation easier to manage

Global Business Travel Association research highlights the challenges of managing global corporate travel programs: 61% of travel buyers say managing travel across regions is challenging, while only 12% have a consolidated view of their program from a single data source1. Alcove aims to give program managers greater visibility and control, bookers confidence that trips can be reliably managed, and passengers a premium experience built around their needs.

Alcove brings together TBR’s established service network across six continents and Lyft’s experience in executing one billion rides a year. Since Lyft acquired TBR, the business has grown rapidly, recording its best-ever quarter in Q2 2026.

Current TBR customers will continue working with the same teams as the business transitions to the Alcove brand. Services including 24/7 support, VIP travel, complex and high-profile trips, major event logistics, and security-sensitive transportation will continue, with further capabilities introduced as Alcove develops.

Further details about Alcove, including its technology, full service offering, and launch plans, will be announced in early 2027. There will be no impact to Lyft’s Q3 or Q4 2026 results.

About Lyft

Whether it’s an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. Founded in 2012, Lyft has grown into a global mobility platform offering a mix of rideshare, taxis, private hire vehicles, executive chauffeur services, car sharing, bikes, and scooters across six continents and thousands of cities. Millions of drivers have chosen to earn on billions of rides — helping to create a more connected world, with transportation options for everyone.

About Alcove

Alcove is Lyft, Inc.’s global chauffeur network, built on the operating experience, global network, and service excellence developed by TBR Global Chauffeuring over more than three decades. It takes a proven global service model and builds on it with new technology, capability, and ground transportation network expertise. The result is a network designed to create consistent, premium travel experiences across the globe. Alcove will operate in thousands of cities across six continents.

Forward-Looking Statements

Certain statements contained in this announcement are “forward-looking statements” about Lyft, Inc. (“Lyft”) within the meaning of the securities laws, including statements regarding the timing of the launch of Alcove and its brand transition from TBR Global Chauffeuring, the expected timing, availability and features of Alcove’s services, the benefits and capabilities of Alcove’s technology and service offerings, the expected geographic reach of Alcove’s operations, the expected contribution of Alcove to Lyft’s revenue and margins, and Lyft’s plans and expectations for the Alcove business and its premium mobility services. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft’s filings with the Securities and Exchange Commission. Lyft does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

1 Technology, Managed Travel and Hotel Distribution Gaps Stall Progress Toward the “Perfect Business Trip,” According to New GBTA Research – Global Business Travel Association – GBTA. (2026, May 19)

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