Lyft Honors Drivers on Hollywood Blvd's Walk of Fame

Ridesharing company Lyft has erected a billboard on Hollywood Walk of Fame, recognizing just how cool its drivers are.

"Thanks to the writers, the strivers the role models. We know you're more than just drivers. So no matter what you're driving toward, we'll help you get there."

Lyft has long played second fiddle to Uber, which is regarded as the highest valued privately held corporation in the world. Uber is valued at over $100 billion, while Lyft is valued around $7.5 billion.

Like many peer-to-peer startups, Lyft faces legal and regulatory hurdles and has been criticized by established commercial enterprises, including taxi services.

In the fall of 2012, the California Public Utilities Commission issued a cease and desist letter to Lyft (along with Uber and Sidecar) and fined each $20,000.

However, in 2013 an interim agreement was reached that reversed those actions. In June 2013, Lyft, Uber and Sidecar were served with cease and desist letters by the Los Angeles Department of Transportation. In September 2013, the California Public Utilities Commission unanimously voted to make the agreement permanent, and created a new category of service called Transportation Network Companies, making California the first state to recognize and regulate such services.

Lyft, like other ride-sharing services, has been criticized by government officials for operating what they consider to be unlicensed taxi services. For example, upon expansion into Virginia in April 2014, the Virginia Department of Transportation levied a $9,000 civil penalty against Lyft for failure to register as a transportation broker. Virginia DoT had previously communicated with the company and informed it that it had to register in order to provide services inside the Commonwealth. In August, state officials reversed their ruling and allowed Lyft to operate in Virginia.

Meanwhile, NPR reports that Lyft has begun a college scholarship program for its drivers.