With over 21 million active users in 2020, Lyft is one of the most popular ride-sharing applications. It has grown steadily since its debut in 2012, and it currently ranks among the top companies with a 35 percent market share.
It is the most popular app among commuters in cities throughout the United States and Canada because of its low rates and interactive features.
Apps like Lyft are on-demand transportation platform that allows users to hail a cab with only a few clicks on their smartphones. Apps like Lyft maintains an excellent business model to ensure that end-users have a flawless experience when using their requested service. Lyft is seen as an alternative to Uber in recent years.
With a market capitalization of $7.5 billion following a $500 million funding round, is unquestionably giving Uber a run for its money. In the coming years, this industry is expected to become royalty in the on-demand ride-hailing business.
