Lyft scales ad business, launces new ad formats, Axios reports

Lyft (LYFT) is scaling its ad business with new formats, with three new formats: Sponsored Map Vehicles, Sponsored Rides by Mode, and Vertical Video, Kerry Flynn of Axios reports, citing information told to the journal by the company. Sponsored Map Vehicles will include a full-day takeover of the Lyft map, Sponsored Rides will let branding be featured on the Lyft homepage and during the ride, and Vertical Video will be full-screen, non-skippable video ads that plays when riders select the Wait and Save option.