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Lyft says its revenue is growing 3x faster than Uber's

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chawes
756 Rider Guru
 Posted 4 years, 6 months ago

Pretty impressive. No wonder investors are sticking by them.

https://techcrunch.com/2018/03/12/lyft-says-its-revenue-is-growing-nearly-3x-faster-than-ubers/

Comments

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    HemiDodge
    363
     4 years ago

    But is Lyft investing in the future? What is their positioning with autonomous vehicles?  Maybe they are fighting hard to capture marketshare for a market that'll be left in the dust when the robotaxis start roaming.

    Uber invests heavily in AVs. I think they have their sights set on the future.  Not this current job where they lost craploads of money while fighting legal issues with drivers and cities every day.

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      SmittenKitten
      2096 Rider
       4 years ago

      Yes, actually, Lyft does have strategy for the arrival of autonomous cars and robotaxis.  They are partnering with car manufacturers, such as Ford, to become the future disptach software for the robotaxis being invented.  

      Their positioning is that they will not invent and develop autonomous cars, like Uber. They are in it to capature a large audience and mature the software and business model, in preparation for AVs arrival.  They bring the software and Ford brings the cars.   Keep the AVs to the experts.  

      Uber wants to own it all.  Then again, their valuation enables them to do that.  Who knew a start-up would be competing with the likes of Tesla and Google.

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    Peterthebull
    140
     4 years ago

    The growth should be faster for a smaller company always.  What we should be looking at is the market share gains Lyft has had.  That's a lot more impressive.

    "Lyft  made a lot of progress in 2017, helped by strong market expansion within the U.S. and riding some very bad news from its primary rival, Uber. That’s helped it grow revenue to more than $1 billion." "a particularly strong Q4 during which its revenue outpaced Uber’s  by 2.75x, lifted (get it?) 168 percent year-over-year, versus 61 percent growth for Uber’s revenue relative to its own performance during the final quarter of 2017."

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    lilly
    1026 Rider Guru
     4 years ago

    New article on this topic here!

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    SurGeo111
    49
     4 years ago

    How do they know how much Uber is making?  They are both private companies...

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      chawes
      OP 756 Rider Guru
       4 years ago

      Uber has released past earnings. Lyft is just basing this stat on those figures.

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        SurGeo111
        49
         4 years ago

        Ooooh, so you are telling me now we can calculate their earnings too...

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          chawes
          OP 756 Rider Guru
           4 years ago

          I expect they'll announce them at end of quarter anyways. They wouldn't put this out there otherwise.

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            SurGeo111
            49
             4 years ago

            Yeah, I am just tickled by the fact they are gonna open up.  Also can't wait to see how much money they are losing.

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    dianeJH
    71
     4 years ago

    Lyft does not give up that is for sure. I give them a lot of credit.