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Lyft set to claim third of US market in 2017

This year, Lyft is on pace for $1.5 billion in net revenue

Mark Bergen & Eric Newcomer| Bloomberg 

Lyft has gained significant ground on its rival, Uber Technologies, and is expected to grab more market share in the US, according to a private Lyft investor document obtained by Bloomberg. A major investor is projecting Lyft will have boosted its share of US ride-hailing business some 61 per cent by the end of the year, climbing to about a third of the market. The gains come as market-leader Uber’s reputation is in tatters following a string of scandals that culminated with the resignation of its chief executive officer in June.  Projections outlined in the ...

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First Published: Mon, November 13 2017. 02:34 IST