So this may explain the recent panic mode that Uber has been operating under.
- Lyft says it has 35 percent of the U.S. ridesharing market and enjoys majority share in "multiple" markets.
- The ride-sharing battle is heating up as Uber moves past last year's turbulence and both companies try to rein in costs.
Lyft says it has 35 percent of the national ride-sharing market, up from 20 percent 18 months ago. That would represent growth of 75 percent.
Lyft credits more activations of passengers and customers and greater brand awareness. The start-up says its market share is over 40 percent in 16 U.S. markets and that it enjoys majority share in "multiple" markets, although it wouldn't disclose where.
"The last 18 months have been a period of incredible, sustained growth for Lyft," CFO Brian Roberts said. "There are no signs of that momentum slowing down."
As Lyft and Uber battle for market share, they've had to spend big on subsidies to drivers and promotional discounts to riders. It's a race-to-the-bottom strategy that has seen both companies burn through record amounts of cash and struggle to reach profitability.