Ride-hailing service Lyft just announced a key milestone: It has now surpassed 1 billion rides since it was founded in 2012.
The San Francisco-based company reported half a billion rides last October, meaning it has doubled the number of rides delivered in less than 12 months.
For context, rival Uber announced it had arrived at 10 billion rides back in June, but that is perhaps an unfair comparison to make. Uber launched in 2010, and it is available in hundreds of markets globally, while Lyft has largely been limited to the U.S. for most of its history, though it did expand into Canada, starting with Ontario last November. Reports continue to circulate that Lyft is eyeing a broader international expansion after it reportedly held talks with London transport officials last year. Rumors also emerged that Lyft was planning to acquire Spain’s Cabify for $3 billion, though Cabify denied such talks were taking place.
Still, Lyft recently claimed it now has 35 percent market share in the U.S., up from 20 percent 18 months earlier, and that it is actually top dog in some U.S. markets.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
The company also revealed some interesting tidbits around its ride history. The longest singlet in its history was 639 miles from Denver to Sioux City in 2016. A single hardworking driver is responsible for 31,000 of its 1 billion rides. And one passenger has used Lyft a staggering 9,000 times.
“To see the vision Logan (Green, CEO) and I had over a decade ago cemented by this unbelievable milestone brings me so much joy,” said Lyft president and cofounder John Zimmer. “In no way could this be a reality without our dedicated drivers, passengers, and team members. Marching ahead, Logan and I, alongside the entire Lyft team, intend to double down on our commitment to this community.”
To mark the 1 billion ride milestone, Lyft said it will doling out a free tank of gas to 3,500 Lyft drivers (one for every Lyft employee today).
