Uber has 91 million monthly active riders, and 3.9 million drivers across 63 countries, according to its website. Coverage-wise, Uber is much larger than Lyft, which operates only in the US and Canada. The Uber app is user-friendly.
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Uber dominates U.S. market shareMeanwhile, sales at Lyft are yet to reach their pre-pandemic levels as of August 2023. It is worth noting that during its FY23 Q2 earnings call, Uber reported its first-ever operating profit and highlighted Uber Rides as the business line with the highest year-over-year revenue growth.
Uber can be less expensive than Lyft for the average journey—research suggests that Uber is the cheaper company, with the average trip costing $20 compared with the $27 you would spend for an average Lyft trip. Also, Uber can be used around the world, whereas Lyft is only available in the U.S. and Canada.
Rider DemographicsAge: 49% of Lyft's users are between the ages of 18 and 34. Income: The median household income for Lyft riders is $55,000. Education: 20% of Lyft's active riders are currently students.
How many users does Lyft have? Lyft's active users (riders) numbered 20.3 million as of Q4 2022. Moreover, the company reported the same figure in Q3 2022.
63% of ridesharing customers in the US exclusively use Uber. A further 27% of consumers only book rides through Lyft. Just 10% of US customers use both Uber and Lyft.
The company reported an adjusted Ebitda loss of $248 million during the final three months of 2022. Lyft attributed the loss to a regulatory disclosure change that requires companies to count insurance reserves, cash set aside to pay for claims and other insurance expenses, in financial measures.
The Lyft app launched in 2012 (Uber, originally called UberCab, in 2009), but Lyft started life as a side project for Zimrides, a carpooling service founded in 2007 that leveraged Facebook and students for long-distance ride-sharing back when Uber was just a limousine-shaped gleam in the eye of Canadian co-founder ...
Tough Competition in Ride-SharingAs the world returns to normal after the darkest days of the pandemic, Uber has won over more customers than Lyft. Uber's share of the ride-hailing market in the U.S. went from 62% in the start of 2020 to about 74% now.
Reputation Isn't EverythingIt does look like these factors have registered in the minds of US consumers — Uber had a much lower company reputation score than Lyft. By some distance it was the lowest in the apps category, and one of the lower scores across all sectors.
Average Uber Driver hourly pay in the United States is approximately $19.19, which is 17% above the national average. Salary information comes from 1,260 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Lyft to cut 1,072 employees, or 26% of its workforceThe layoffs had been announced last week without a specific number. New CEO David Risher told employees that the cuts would form part of a continued focus on “better meeting” consumer and driver needs.