Lyft Says Its Revenue Is Growing Nearly 3x Faster Than Uber's (techcrunch.com)

U.S. ride-sharing company Lyft says it passed $1 billion in revenue last year and that its revenue grew 168 percent year over year in the fourth quarter of 2017, almost three times faster than Uber's reported 61 percent growth. "Uber, of course, is still much larger than Lyft -- it generated a reported $7.5 billion in revenue last year and operates in many more cities and countries," notes Recode. "While its fourth-quarter growth may have been smaller than Lyft's percentage-wise, it was still almost certainly many times larger dollar-wise. Both companies are still unprofitable." From the report: But the big-picture reality is that despite Uber's head start, its early dominance, ability to raise massive amounts of financing, aggressive (often allegedly illegal) growth tactics, faster move into self-driving cars and everything else in its favor, it has not been able to destroy Lyft. Instead, Lyft capitalized somewhat on Uber's missteps and unsavory reputation, raised another $2 billion last year, gained market share, launched its first international market last year (Toronto) and seems poised to exist for the foreseeable future.

Comments

Wow revenue!

[spacec0w]

I think it's sad how little commentary focuses on how both Uber and Lyft are so unprofitable. I mean they are wildly popular, but until they can make serious money off their business model I don't see why they aren't seen a mild failure by non-investors. They will likely only do so after completely eliminating all competition, after most licensed taxi drivers have lost their jobs (that aren't subsidized by investor capital) and many transit systems are gutted. Similar case to Amazon. Which investors effectively subsidized over the past decade, and will continue to do so until they have run all competition into the ground and start turning significant profits.

Yes, but where's the model for making profit?

[Bearhouse]

I get it...get through insane amounts of cash running after revenue and market share...VCs keep it coming in anticipation of cashing-out when you list. But...are people really that dumb, after being burned by a bunch of other dud Unicorns?
Who the hell would buy Uber today? They're destroying billions of dollars a year, with no signs of how to make a profit...neither have Lyft

https://arstechnica.com/cars/2...

Re:not ride sharing, is ride selling

[MightyYar]

It's horrible when the government leaves people alone. Horrible. They really should control every aspect of your life, including how you use your personal property and how you choose to make some extra money.