Sounds nice from a PR standpoint but you can't really compare the two companies based on revenue growth. Lyft is still a smaller company so in a global industry it's much easier for it to grow faster on a percentage basis. They're still expanding to cities where Uber already exists. If you started a rideshare company and gave 11 rides this month you'd be growing 10x faster than Lyft.
I remember when Uber was clearly dominant. That was over a year go. For the past two conferences I've been to, including the one I'm at now(Ember Conf), EVERYONE has been using Lyft.
It really is possible for a company to piss off enough people.
> Lyft provided this stat shot, which also includes some highlight numbers on its performance thus far in 2018.
Where's the data for this?
> with a particularly strong Q4 during which its revenue outpaced Uber’s by 2.75x
How much revenue did Lyft pull in? Or Uber? This article isn't very good.
Agree with all the comments here about how the actual statistic here shouldn't lead one to the conclusion that it may on the surface. But... Every time I've visited a big city of the last few years, "Uber" has been the verb for just grabbing a ride-share. My last 2 visits to a big city over the law few months, "Lyft" has been the go-to that people talk about. I'm pretty sure the tide is shifting in Lyft's favor, this specific statistic and its flaws aside.
Well of course. What a dumb title. Lyft is smaller than Uber (drivers, user base, and operating markets). They have more room to accelerate their revenues because every time they add a market it has a larger impact on their added revenue. The title is just stupid because I can buy a cab tomorrow and also claim that my revenue is growing faster than Uber.
If you're in the US it's easy to forget that Uber is very world-wide and as a frequent traveller I use it nearly everywhere I go. Lyft is mostly US-only right now.
It's much nicer and easier to get an Uber at most airports and know you're not getting screwed, communicate your destination easily when you don't speak the same language and know that they take payment by card -- rather than arriving at the destination, having already asked if they take card payment, they said yes, then suddenly they don't.
Achieving 3x is easy when your revenue was lower to begin with.
I've had difficulty getting Lyft's in DC. They may have to increase prices to encourage more drivers to fill demand.
I'm not sure what's impressive about growing revenue in an industry that has no obvious economies of scale. This seems like a case of "sure we lose money on every ride, but we'll make it up with volume!"
Looking at it another way, given a huge funding pool (say $10B) a modestly competent company could outpace both Uber and Lyft in revenue growth by the end of the year simply by subsidizing rides even more. The initial skepticism towards ride sharing services is gone and there's little keeping customers and drivers loyal to either Uber or Lyft.
My gut says Juno is dark horsing and about to make a splash. I have no proof for this outside of my gut, but the way they are laying up reminds me of early day uber. My main point of reference for this feeling is the drivers, if I get a lyft driver with 4.9 or 5.0 rating, they inevitably try to push Juno during the ride, however the value prop to the rider is somewhat compelling: the drivers are compensated to a higher degree (lower fee) however, the must maintain a 4.9 on other apps, and an equivalent on their app, consequently, the caliber of chauffeur on Juno is quite high.
UBER has already cemented a path around the world. He is facing legal battles in an attempt to demonstrate that his business is legitimate and beneficial to society. All others will have the facilities to travel in this vacuum.
But it will reach a point where the dispute will not be with the old business models related to mobility. And at this point, it will make sense to compare these companies. But at the moment it makes no sense to compare revenue.
Nitpicking: Does "3x faster" mean at 300%, or at 400%? I would say 300%, but when you say 50% faster I would interpret it as 150%.
It is a expression with no clearly defined meaning, and really shouldn't be used.
I can improve my running speed 3x than Usain Bolt in next week if I want to.
[xkcd: Fastest-Growing]: https://xkcd.com/1102/
Who cares ? Is it profitable or not ?
I launched my new app last week, calculated the growth rate this week and I am growing INFINITY week over week yoohoo!
After I rode in an Uber with a self-proclaimed rapist driver, and Uber's response was "we'll consider limiting his access to uber", I uninstalled. Fortunately, the police took the case a little more seriously than Uber did.
Pardon the micro-rant, but this is yet another great example of fake news. It's everywhere.
Factually accurate, but none the less closer to bias / propaganda than truth. Unnecessary and inappropriate.
Techcrunch (and all others who choose to deny their journalistic responsibilities) should be embarrassed for being so willing to publish such click bait-y headlines.
Perhaps greed isn't so good after all?
Uber could (and eventually will destroy) Lyft in one fell swoop. They're just holding back to appease the government atm.