In the past, short-distance transportation was limited to having a car or taking a public transportation. Today, the San Francisco-based transportation company Lyft makes it all easier. 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.
Launched in 2012, Lyft now ranks among the top transportation network companies. In this article, we will take a look at some of the interesting facts and stats regarding the company’s revenue, market share, and rides.
Quick 2019 Lyft Statistics (Editor’s Choice)
- A gross booking of over $8.1 billion was recorded by Lyft
- Lyft offers insurance of up to $1 million to its drivers
- Lyft drivers make on average $12.53 per ride
- As of January 2019, Lyft had recorded a whopping 65 million app downloads
- 50% of Lyft customers use the service more than they use their own cars
- By 2020, Lyft will generate over $6 billion in net worth revenue
- Lyft has completed more than a billion rides since its inception while Uber has 10 billion
- Lyft’s revenue is estimated to be $2.157 billion per year as of 2018
- 90% of Lyft rides are 5-star rated by passengers
- Lyft operates in 644 cities in the United States and Puerto Rico
- Lyft has over 1.4 million drivers
Lyft Revenue Statistics
Nowadays, Lyft is a huge company operating in 644 cities across the US and Puerto Rico and nine cities in Canada. Even though it is nowhere near its main competitor – Uber – Lyft is a fast growing and top-rated company with an astonishing 100% growth year by year. Its services are rewarded by loyal customers who helped the company rake in more than $2 billion in revenue last year. Let’s dive into some of the top stats and facts concerning the revenue of the transportation network company.
1. Lyft earnings had doubled between 2016 and 2017
It is rare to find a company that earns twice its revenue from the previous year. However, Lyft Inc. did this between 2016 and 2017. In fact, reports had it that the company had made over 209% of the 2016 revenue in 2017.
2. Lyft’s revenue is estimated to be $2.157 billion per year as of 2018
A lot has changed since the company had doubled its total revenue from 2016 to 2017. In 2018, reports had Lyft annual revenue to hit a whopping $2.157 billion. More precisely, this is a 103% growth.
3. Lyft lost about $911 million in 2018
Businesses are known sometimes to incur losses or a decline in revenue growth. In 2018, Lyft lost about $911 million. This was significantly higher than the $688 million the company had lost in the previous year.
4. Lyft net worth as of 2019 stands around $29 billion
Despite the losses, the ride-sharing company and its value only go up. The trend is expected to continue in the following years, especially now that it has become a public company and listed on Nasdaq. This is the first time that a ride-sharing company has debuted as a public company.
5. Lyft Inc. has recorded over $42.82 earnings per active rider in Q3 2019
There have been several studies that have shown the unique growth rate of Lyft in its revenue-generating sectors. As a matter of fact, Lyft revenue recorded about $42.82 in earnings per active rider. From $33.63 in Q3 2018, the year-over-year change was 27%.
6. A gross booking of over $8.1 billion was recorded by Lyft
Car bookings for Lyft have made quite a history by bringing over $8.1 billion. This goes a long way in superseding the figures of many other companies, thereby coming as a contributing factor to the famous name of the company.
7. Lyft has total assets of $3.7 billion
According to its earnings report, Lyft Inc. has total assets of $3.7 billion, despite the $911 million loss in 2018.
Facts About Lyft Market Share
Market share is an important part of every business strategy. So far, Lyft holds a significant market share in the US — over one-third. Perhaps this doesn’t sound like a competitive stat, but don’t forget that Lyft’s business is exponentially growing every year.
To fully understand the company’s place in the ride-sharing market, we will have to dive into a few relevant statistics.
8. Lyft has a 39% market share in the United States
Today, Lyft is widely used by a lot of people from the United States. According to reports, Lyft accounts for 39% of the country’s market share. This goes a long way in making it the second largest transportation network company in the United States.
9. Lyft market share might be lower when compared to Uber, but it still comes as the highest-rated
Lyft’s total market share in the United States is significantly lower than that of Uber’s. However, the company still retains its name for being the highest-rated with 4.7 stars.
10. Lyft’s subsidiary accounts for 80% of the market share in its category
In 2018, Lyft bought the largest bike-rental company in North America. The company is now named Lyft Bikes and has a market share of 80%. This comes as yet another contributing factor to the Lyft brand.
Lyft User Statistics
11. Lyft has over 23 million users worldwide
With the Lyft company operating in hundreds of cities, it is no surprise that it has over 23 million users.
12. 44% of Lyft rides start or end in areas with low-income
According to Lyft demographics stats, about 44% of rides are made to and from low-income areas. Reports show that 56% of rides are actually made from areas with higher income rates.
Lyft Driver Statistics
13. Lyft offers insurance of up to $1 million to its drivers
Lyft drivers get the chance to experience insurance at a whole new level. Drivers don’t need to worry much about having accidents or damaging their car. Lyft has them covered with the $1 million insurance.
14. Drivers of the Lyft company make an average of $12.53 per ride
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.
15. Lyft has over 1.4 million drivers
Lyft ensures that efficiency and speed are highly exhibited whenever it comes to its services. In fact, the company goes a long way in providing this by having over 1.4 million drivers. This aids the reduction of waiting times.
Lyft Usage Statistics
16. 29% of users have used Lyft to access healthcare services
Lyft stats have shown that 29% of users have used Lyft to access various healthcare services.
17. As of January 2019, Lyft had recorded a whopping 65 million app downloads
The Lyft app was released in 2012. A report concerning the app’s usage and downloads shows that, as of January 2019, the app had gotten more than 65 million downloads from various devices. The app is specially designed to provide quick and easy access to Lyft rides, and it is regarded as the best tool when trying to get a ride from the Lyft company.
18. 90% of Lyft rides are rated 5-star by passengers
Making a good impression is a great way to deploy any business. Lyft has adopted this idea and has made sure passengers get the best services possible. For this special reason, about 90% of the customers awarded Lyft a 5-star rating.
19. Customers within the age group of 18-24 make use of Lyft on a weekly basis
It is easier to find young adults making use of Lyft. Older age groups might prefer to own and drive a car. However, a report regarding Lyft demographics indicates that people of the age group 18-24 make use of the service on a weekly basis
20. 50% of Lyft customers use the service more than they use their car
It is a common thing to get used to the unique service of a great company. Even 50% of Lyft’s customers are reported to use their own cars less than they use Lyft.
Lyft vs. Uber Statistics
21. By 2020, Lyft will generate over $6 billion in global net revenue
Since its arrival in the United States, Lyft has made great progress in terms of generating revenue. Today, top reports show that the company will generate over $6 billion by 2020.
So far, it has made great progress towards that objective. However, if we compare Uber vs Lyft revenue statistics, we can conclude that Uber is progressing much better at the moment. It had generated $11.3 billion in net revenue worldwide from 2013 to 2018.
22. Lyft has completed more than a billion rides since its inception while Uber has 10 billion
Before the end of 2017, Lyft had announced that it had surpassed 500 million rides since its launch in 2012. Later in September 2018, it was announced that it had delivered more than 1 billion rides.
This data has truly impacted the company’s further growth and popularity. However, this number is smaller when compared to the 10 billion rides Uber had reached just a couple of months before Lyft announced own stats.
Lyft has been around since 2012. Looking at its progress from that period, it is clear that the transportation network company is rapidly growing. As a result of the unique innovations and technologies the company uses to make every ride outstanding, taking a lift with one of its vehicles may just prove to be the best way to efficiently and quickly transport oneself. Lyft statistics have shown that the company is experiencing 100% growth rate every year. It is projected that it will continue to experience great levels of progress within the coming years. 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. As a matter of fact, it is known to be the second largest transportation network company in the United States. Luckily, it has begun making plans on how to expand its reach across other countries and cities.
Frequently Asked Questions
1. How many rides does Lyft have per day?
Over the years, Lyft has been serving citizens of the United States and Canada. It announced that, as of 2017, it had over a million Lyft rides per day. However, the company is yet to announce its present daily reach. Research and case studies have estimated it would reach a much higher figure. This is due to Lyft attaining over 100% growth rate with each passing year.
2. Which one has more market share, Uber or Lyft?
Uber has been around since 2009. Today, it is estimated to have over 110 million users across the globe, alongside a 69% market share in the United States. When compared to Lyft, it is clear that Uber has a larger percentage of the market share. Lyft accounts for 39% of the market share in the United States. However, as we previously indicated, Lyft owns a bike-rental company which has 80% of the market share under its category in North America.
3. How many drivers does Lyft have in the US?
Before the end of 2017, Lyft had over 1.4 million drivers in the US and Toronto.
4. How many monthly active users does Lyft have
The company has over a million daily active users. However, Lyft monthly active users are estimated to be about 18.6 million.