Lyft Just Capped A Year Of Milestones: 1 Billion Rides, $15 Billion Valuation, 80 Percent Of The Bike-Share Market (11-28-18)

CREDIT: Lyft

Not every company can go up against the biggest kid on the playground and hold its own–but Lyft has done that and more.

The second-biggest ride-hailing company in America has faced cease-and-desist letters from local governments, lawsuits, and political and regulatory battles in addition to its never-ending mano-a-mano with chief rival Uber. But by September 2018, six years after Lyft launched, the San Francisco ride-hailing company, which is now valued at $15 billion with approximately 35 percent of the ride-hail market, announced it hit over 1 billion rides.

“If you look back to the first four or five years of Lyft, we were in survival mode–the odds were stacked against us. But now we’ve increased market share significantly, we’ve raised the resources to build out the team we need, and we finally have a year that we’re able to be in offense mode,” says John Zimmer, co-founder and president of Lyft.

Read Full Story Here (via Inc.)

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