How does Lyft Work? Let’s dig in and find out.
Lyft – an on demand taxi booking app – is growing at a fast pace. In the year 2013, the company completed just 3 million rides in the entire year and today it serves one million rides every single day. Isn’t that astonishing? Just six years and such massive growth.
These mind-blowing facts make Lyft Business Model a topic worth discussion. While its working is much similar to that of Uber – the ride sharing giant in the taxi space, there are a few funky approaches and strategies employed by Lyft that make its business model even more interesting.
Having valuation of more than $20 Billion, Lyft is giving intense competition to every other ride-sharing organization and is aiming to make it BIG in the taxi industry. Lyft has been one of the fastest-growing taxi companies in the USA. It has already captured more than 35% of the total market in the US till date. But, how? Let’s get started to find out:
