SAN FRANCISCO — Smartphone ride services Lyft, UberX and Sidecar are launching on-demand carpool options that will let passengers share rides — and costs — with other people going the same way, the San Francisco Chronicle reported.

All are initially trying out the services in San Francisco, where they are based and have thousands of riders and drivers. With costs averaging 30 to 40% less than solo rides, the shared services may compete with public transit as well as car ownership, according to the report.

"Instead of public transit, we're building what we call personal transit," said Lyft co-founder and CEO Logan Green. The company elaborated in a blog post: "This is a transit system with infinite routes — and it becomes stronger, more affordable, and more efficient the more it's used."

For the full story, click here.