Lyft
Ride sharing company
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To improve people’s lives with the world’s best transportation.
Employees
1001+
HQ Location
China Basin, San Francisco, CA
OTTA INSIGHTS
Xav Kearney
CTO of Otta
Lyft has aimed for consistent growth, making sure to pitch itself as the more reliable and friendly ride-sharing option than its main competitor, Uber. Uber has a greater market share and operates globally, but Lyft hopes to compete by its focus on ride-sharing over Uber's more diversified business approach, and as a more rider-friendly and greener alternative to Uber.
Operating only in the USA and Canada, Lyft is in a position of being less affected by global events than Uber but also more vulnerable to local conditions. As an example, while it doesn't face the regulatory hurdles around employment rights that Uber does, it is unable to balance out the cost of the unusually expensive US auto insurance across its operations.
In 2022, Lyft acquired PBSC Urban Solutions, a bike-share equipment and technology supplier, allowing Lyft to compete in new verticals and reaffirming its commitment to green transportation. It has also trialled and launched Lyft Assisted, where drivers help passengers from their door into the car in order to get to medical appointments. These developments chime well with Lyft's unique selling point as a friendlier and more environmentally aware ride-sharing app.
Last 2 fundraises
Mar 2018
$200m
LATE VC
Jun 2018
$600m
LATE VC
This company has top investors
Company benefits
Founders
John Zimmer
(President)Originally an Analyst at Lehman Brothers, Zimmer then founded Zimride which was a private ridesharing company which pivoted into Lyft.
Logan Green
(CEO)Founded Zimride, a private ridesharing company which later pivoted into Lyft.
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