July 25, 2017

Lyft is quietly going after Uber’s biggest weakness



lyft amp in windshield
Image Courtesy of Lyft

Lyft’s market share has risen to just under 25% this year. Lyft has been trying to position itself as a socially-conscious, ride-sharing solution long before Uber was rocked by a string of scandals that ultimately culminated in CEO Travis Kalanick’s forced resignation .

But Lyft has the most potential to take on Uber by playing the long game with self-driving cars.

Although Lyft has been slowly chewing away at Uber’s massive market share, it has yet to make a real dent.

Market research firm TXN reported that Lyft’s market share has risen to just under 25%. At the same time, Uber’s hold on the market has fallen from 84% at the beginning of the year to 77% at the end of May, research firm Second Measure reported.

That’s promising news for Lyft, but the ride-hailing company will have to invest heavily in expansion if it wants to catch up. The $500 million Lyft raised in April will certainly help.

But it’s also not clear the pattern will continue.Uber began losing market share amid a string of scandalous allegations of sexism and bullying in the workplace. Coupled with Kalanick’s resignation, Uber could rebound if it manages to keep itself out of the spotlight.There is no […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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