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 […]