Lyft is a peer-to-peer ridesharing service that operates in over 200 US cities. It connects passengers to nearby drivers through a mobile app, offering 3 types of rides - Lyft for individual rides, Lyft Line for shared rides going the same direction, and Lyft Plus for rides in a six-seater vehicle. Passengers request rides through the app, which then shows the driver's information before confirmation, allowing passengers to connect with local drivers for transportation needs.