With the so-called sharing economy taking off not only in our country but all around the world, saying to somebody, “I’m going to call an Uber” is becoming as commonplace as saying, “I’m going to catch a cab.”

Now another company, Lyft, is trying to give Uber a run for its money. A peer-to-peer ride-hailing app now available in 65 U.S. cities, Lyft is known for its pink-mustachioed cars....

With Lyft’s current estimated value at around $1 billion and Uber’s at $40 billion, Zimmer explains how he expects eventual victory in this real-life David vs. Goliath battle. He believes Lyft will “absolutely” catch up with Uber, stating, “We are growing faster than them in the United States. That black car business is slowly declining. We are going after the mass market, which is much larger.”...

Nonetheless, recent news shows both Lyft and Uber have some roadblocks ahead. The companies are currently facing separate lawsuits seeking class-action status in San Francisco federal court, initiated by drivers who believe they are employees entitled to reimbursement and should not be treated as independent contractors. Add to that a new competitor in the race, Google, which is reportedly working on its own ride-sharing app.