Lyft Announces 500m Total Rides, 100m in Past Three Months (Oct 11, 2017)
Lyft has announced that its service has provided 500 million cumulative rides since its inception, 100 million of which were in the last three months alone. It also says it’s providing over 1 million rides every day at this point, which gels with that 100m number. The chart in Lyft’s blog post looks like an exponential growth rate, and is a testament to the fact that the ride sharing category overall is still growing very rapidly even in a relatively mature market like the US, with Lyft’s share growing a little over the past year. As I’ve said before, while it’s tempting to ascribe that to Uber’s troubles, it’s actually mostly about Lyft’s rapid expansion into new markets during the course of this year in particular. But it’s good to see another competitor offering a serious alternative to Uber in its home market and keeping up the pressure, which should ensure that both companies continue to innovate and improve experiences for drivers and riders.
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