By PYMNTS
Posted on June 28, 2018
“Lyft’s strong momentum has continued in the first half of 2018, with our recently launched new passenger app, an environmental commitment to make all Lyft rides carbon neutral, and our partnership with Magna to develop and scale autonomous vehicle technology,” the company wrote in a press release.
Last month, Lyft’s internal market share numbers showed that it has 35 percent of the national ridesharing market, up from 20 percent 18 months ago. The company also says its market share is over 40 percent in 16 U.S. markets and that it has a majority share in “multiple” markets.
And earlier this year, Lyft announced that its revenue grew more than $1 billion in 2017 and beat Uber’s growth in Q4 by 2.75 times. In fact, Lyft’s revenue growth was up 168 percent in the fourth quarter, while Uber’s increased by 61 percent.
Lyft also provided 375.5 million rides in 2017, which is up 130 percent year over year. The company also provided rides to a total of 23 million different passengers, which is a 92 percent jump from the prior year, and had 1.4 million drivers at the end of 2017, up 100 percent from the end of 2016.
www.pymnts.com/news/ridesharing/2018/lyft-valuation-15b