These figures are more or less consistent with 2020. We don’t have more recent statistics, though Lyft did report that as of 2020, aggregated driver tips came to $1.1 billion. Before the end of 2017, Lyft had announced that it had surpassed 500 million rides since its launch in 2012. Some statistics about Lyft driver demographics are included in Lyft’s 2020 Economic Impact Report. Research and case studies have estimated it would reach a much higher figure. Percentage of US rideshare users who use Lyft and Uber, 2019 – 2023. Older age groups might prefer to own and drive a car. Could this be connected with safety concerns for female passengers? ","acceptedAnswer":{"@type":"Answer","text":"Over the years, Lyft has been serving citizens of the United States and Canada. This compares to a $108 billion taxi market. This differs to Lyft’s serving of those living in low-income areas. Both services are, according to the respective companies, aimed at a reduction in car ownership. Hello, My name is Tony Arevalo. These medical partnerships seem to be having a positive effect, say Lyft. In 2017, Uber had a 74% market share in the US, compared to Lyft at 22%. This about tarries up the market shares reported above. Concierge is limited to Lyft services; in order to help partners order services where Lyft transport would not work, Lyft helped build Concierge-like functionality into their own tech, according to Entrepreneur.com. As with Uber revenue figures, net revenue is total takings minus drivers’ share, rather than indicating ultimate profit/loss. This aids the reduction of waiting times. This is due to Lyft attaining over 100% growth rate with each passing year. 58% of users who recently discarded their car cite ridesharing services as making this possible. I have read and agree to the terms & conditions. Other investors include rock band Linkin Park, GM, and Jaguar Land Rover’s InMotion. It reached the one billion rides mark in September 2018. However, the lion’s share is still going to Uber. As of May 2020, Lyft held a 29% of the ride-hailing market in the US, compared to Uber’s 71%, according to Second Measure. These figures are pre-expenses. All you have to do is grab your smartphone, order a lift, and start the ride if you like the estimated price and driver’s ratings. Despite this, analysts remained bullish on Lyft stock. Lyft revenue grew 103% between 2017 and 2018, and 209% between 2016 and 2017. Luckily, it has begun making plans on how to expand its reach across other countries and cities. 83% of Lyft users approve of self-driving cars, the company reported in January 2018. Brand Loyalty . Lyft reported that 2,500 used this every week before the partnership was announced. Cost effectiveness was higher where travelling between non-downtown locations where public transport services were not as good, particularly with Lyft. In one case (CareMore – partner of the American Medical Association), patients reported satisfaction levels of 80%, the result of a 30% reduction in wait times, and 32% savings per ride. However, as we previously indicated, Lyft owns a bike-rental company which has 80% of the market share under its category in North America. Lyft is also partnering with Ford in a similar fashion. As a raft of other tech unicorns wait in the wings, all eyes will be on the performance of the Lyft IPO over the next few weeks and months. 64% of these say that Lyft has impacted their decision to not own a car; 50% would be more likely to purchase a vehicle if services like Lyft became unavailable. have shown that the company is experiencing 100% growth rate every year. However, as we previously indicated, Lyft owns a bike-rental company which has 80% of the market share under its category in North America. To fully understand the company’s place in the ride-sharing market, we will have to dive into a few relevant statistics. The original furry grille-mounted version, however, has been retired in favour a more discreet glowing pink dashboard version. As of July 2017, investment in Lyft came to $2.6 billion, from what Fortune describe as a ‘who’s who’ list – giving Lyft a valuation of $7.5 billion. Lyft helped to register 20,000 people for the 2018 midterm elections in the US. On a per share basis, it narrowed to $2.23 per share from $8.48 per share, a year earlier, as the number of outstanding shares rose. Despite these general objections to the business model as a whole, Lyft has by and large avoided the controversies that have dogged its main rival Uber in recent years. According to its earnings report, Lyft Inc. has total assets of $3.7 billion, despite the $911 million loss in 2018. Based on the above-outlined stats and facts, it is safe to conclude that Lyft is one of the fastest growing companies in the world. The self-driving cars received an average rating of 4.96/5. Chevrolet have also partnered with Lyft, as has Jaguar Land Rover, which funded Lyft to the tune of $25 million. Lyft ensures that efficiency and speed are highly exhibited whenever it comes to its services. Lyft vs. Uber average monthly spend by city. The company has over a million daily active users. LYFT | Complete Lyft Inc. Cl A stock news by MarketWatch. Forbes predicts that gross revenue/ride figures will remain stable in future years. Notably CEO Logan Green grew up in Los Angeles, and was frequently exposed to streets gridlocked by cars occupied by only one person, reports Fortune. While they may be large, Uber’s losses for 2018 represent a significant improvement on 2017, over which total losses totalled $4.5 billion – though it should be noted that on this measure 2017 was a bad year for Uber. One of the big selling points for Uber is that an … We must remember that this is the first decade in which transport network companies have operated, changing the way millions of people around the world travel. Get accurate performance estimates for 3+ millions apps in 150+ countries. Lyft offers scooter services in nine cities across the US, including Washington DC, Denver, and Austin. As of the Q3 2019, there were 2 million Lyft drivers. I also have professional experience in the finance sector, specifically in risk analysis and portfolio management. While Lyft may only operate in the US, the US is the world’s biggest ride-hailing market. Lyft and Uber alike had reportedly been piloting subscription schemes, ride-sharing industry is going to grow eightfold by 2030, subsiding ride-hailing services where bus services are diminished, Over the course of 2017, Lyft reported 375.5 million rides. See Lyft Revenue Statistics below for more analysis of the comparative finances of Lyft and Uber. Or will they demand quicker results? Research and case studies have estimated it would reach a much higher figure. Businesses are known sometimes to incur losses or a decline in revenue growth. Lyft regained share in the first quarter of 2019, increasing their share by almost 9% (an additional 3% of the overall ride sharing market). The same, of course, can be said of Lyft’s rapid growth – while it has been catching up, it could quite easily by left for dead, or overtaken by another competitor. Ride-hailing had the highest market share as compared to taxis in San Francisco (99%), Dallas (91%), and Los Angeles/Boston (both 89%). According to eMarketer, the proportion of rideshare users who use Lyft will increase from 48.2% in 2019 to 59% in 2023. While these numbers may not be a resounding victory, they are far superior to Uber Pool, where 64% of drivers were not satisfied. Based on the above-outlined stats and facts, it is safe to conclude that Lyft is one of the fastest growing companies in the world. There is still plenty of room for Lyft to grow, with 41% of respondents ‘somewhat familiar’ with the app, compared to 25% who were ‘very familiar’. These stats also show how Lyft contributes to local economies. Another study from the J.P. Morgan Chase & Co. Institute pegged average rideshare driver earnings at $783/month in 2017, down from $1,469 in 2013 (again, we need to factor in hours). In the fourth quarter of 2018, it had 18.6 million active riders and 1.1 million drivers. In 2019, Lyft reported that 35% of its user base did not own a car. More precisely, this is a 103% growth. The below chart shows Uber vs. Lyft revenue figures from 2018. In 2018 they managed to double their net revenue. More precisely, this is a 103% growth. As the above graphic shows, this is less the case where the quality of public transport systems diminish. This website uses cookies to improve your experience. This represents a continuing downward trend (albeit market cap had dropped as low as $7.2 billion in April 2020). Motivate-operated Citi Bike scheme in New York to 40,000 – triple its current size, Lyft launched a Ford fusion hybrid in October 2018, after announcing its intention to do so in July 2017, Blue Vision Labs, whose technology uses “computer vision to process street-level imagery”, according to The Verge, Lyft has been working with Aptiv – a self-driving offshoot of car-parts supplier Delphi – in Las Vegas since January 2018. These earnings figures are before expenses incurred by drivers are taken into account. At this stage, Lyft controlled 20% of the ride-hailing market for business travellers, compared to 73% for Uber. While these figures may be pleasant reading for Lyft and other players in the US ride-hailing market, this robust rate of growth is almost certainly unsustainable. An estimated $2 trillion is spent each year on car ownership in the country. In July 2018, Lyft bought Motivate – the largest bike-rental company in North America, with a market share of 80%. Biggest rideshare markets predicted growth. The remaining 34% are ‘not very’ or ‘not at all familiar’ with Lyft – though we might have to factor in the non-urban population who are not served by Lyft. The companies plan to expand the fleet and the number of destinations. It had generated $11.3 billion in net revenue worldwide from 2013 to 2018. Reports indicate that Lyft plans to raise up to $100 million. Luckily, it has begun making plans on how to expand its reach across other countries and cities. One month on, share price had fallen to $57 (this does not quite represent the lowest ebb recorded a few days prior: $54.35). Despite Lyft’s losses, IPO was a success for them. The greatest proportion of rideshare app users seem to fall into the high-income bracket according to this survey, with the brackets diminishing in size as we go down the income brackets. The first few weeks have certainly proved harsh – though it seems premature to call it a wake-up call yet (with analysts continuing to predict big things for Lyft stock). A study conducted by DePaul University compared the relative costs of using Uber, Lyft, UberPool, Lyft Line, and public transport, using Chicago as an experimental base. Lyft R&D costs stood at $300 million in 2018 – more than double the $136.6 million reported in 2017, which itself is over double 2016’s $64.7 million. Ride-hail company Lyft, which released its registration statement to become a public company today (March 1), says it now captures 39% of rides provided by drivers using Lyft or Uber in US. Outside of work, I'm the father to two incredible children, Vincent and Leo`n! We can see that Lyft revenue is overshadowed by Uber’s figures. Here he came to think of cars in the same way that we might think about hotels. In New York, Lyft was forced to comply with various regulatory hurdles before being permitted to compete with the iconic yellow cab. A mere 3.5 million active Lyft users in the first quarter of 2016 more than doubled to 8.1 million a year later. Lyft active riders by quarter, Q1 2016 – Q1 2020. Reports from SherpaShare and top Lyft driver demographics show that a Lyft driver in the United States earns (on average) $12.53 for every ride they make. It pushes Uber close in many of the markets where the better-known company still has primacy. Lyft plans to offer a ‘full-stack’ of technology, Lyft R&D costs stood at $300 million in 2018, Its cash balance declined by $600 million over the course of the year, In 2014, Lyft net loss stood at 631% of revenue, In the first half of 2017 the figure stood at 62%, Lyft’s losses as a percentage of revenue climbing from 202% in 2016, to 67% in 2017, and 45% in 2018, Lyft net revenue per ride came in at $3.56, The last big funding round before the Lyft IPO was filed was an injection of $600 million, total Lyft venture capital funding raised stood at $4.91 billion, from what Fortune describe as a ‘who’s who’ list, Lyft IPO papers were filed in late February 2019, Reports indicated that Lyft expected a valuation of $20-25 billion, Lyft share price had dipped beneath IPO value, 14 recommending ‘buy’, eight ‘hold’, and only one to sell Lyft stock, Lyft have warned that they may not be able to use them before then, as they may not be generating taxable income within this period, 685 million will use ridesharing services by 2020, Lyft operates in 644 US and 12 Canadian cities/towns (, Lyft hit its 1 billion rides given September 2018 (, Lyft US market share figured at 29% in 2020 (, Lyft reported a market share of 39% as of Q4 2018, significantly higher than third-party estimates (, Lyft reported 2 million drivers in Q3 2019, no more recent figure available (, 48.2% of US rideshare users used Lyft in 2019, compared to 75% for Uber, predicted to rise/fall to 59% and 71.7% respectively by 2023 (, Lyft accounted for 43% of total Lyft/Uber downloads in March 2019, compared to 22% in March 2017 (, 4.7 million US Lyft downloads in Q1 2019, compared to 6.4 million Uber downloads (, As of February 2018, 17% of US rideshare drivers worked primarily for Lyft, 20% for Lyft and Uber equally, and 59% most for Uber (, Total Lyft driver earnings stood at $3.6 billion over 2017 (, All-time Lyft driver earnings at $10 billion, as of year end 2018 (, Lyft drivers have collectively made $1.1 billion in tips, as of 2020 (, Lyft drivers earn $377/month on average, with median of $210/month, as of 2017 (, Lyft claim the average driver makes $18.83/hour pre-expenses, increasing to $21.08 in top-25 markets, as of April 2018 (, Average Lyft driver average salary at $29,627 (, 90% of Lyft drivers drive under 20 hours/week (, Three quarters of Lyft drivers are satisfied with their experience (, Lyft services available to 95% of the US population (, 66% of Lyft drivers identify with a minority ethnic group (compared to 39% overall population) (, 49% of Lyft riders are aged between 18-34 (, 37% of Lyft riders identify with a minority group (, US Lyft riders’ average household income stands at $68,900, compared to median national income of $61,900; equivalent figure in Canada at C$71,800 compared to Ontario median of C$70,500 (, 40% of Lyft rides end or start in low-income areas (, Lyft users hail rides 4.9 times a month on average (, 28% of users have used Lyft to access healthcare services (, Highest average Lyft monthly spend is in San Francisco, at $89 (, Lyft is the fourth-most expensed company in the US, accounting for 3.7% of total expenses (, Business travellers rate Lyft 4.7/5 on average (, Lyft claim 500,000 users ditched cars because of availability of ridesharing services (, As of Q4 2018, 20% of Lyft users had used Lyft bike and scooter services (, 223 million of first billion Lyft rides were shared through Lyft Line (, 83% of Lyft users approve of automated car research (, Lyft grew at a compound growth rate of 223% between 2014 and 2017 (. 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