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Dropshared8/31/2023 ![]() He also said riders might not want to be in a car that just dropped off a couple of pizzas. It’s a very different cycle than, ‘I’m picking people up and I’m just transporting them.'” “And when I pick up a pizza, I have to double park at the restaurant with seven other people, then I get a ticket once every couple of weeks, then I gotta get in my car again and drive, then get out and ring the doorbell. “From a driver’s perspective, they’re now shuttling in their mind between picking up a person versus picking up a pizza,” said Risher. Risher said Lyft won’t try to compete with Uber by introducing a delivery product to the app, in part because he doesn’t consider delivery to be either a customer or driver-driven decision. “All of the cross-sell that we have across the platform continues to increase, drive new customers and drive retention, as well.” “We are actively cross-selling food delivery consumers into grocery, grocery consumers into alcohol, and actually back now to mobility,” said Uber CEO Dara Khosrowshahi during the company’s third quarter 2022 earnings call held November 1. While Lyft has stuck with ride-hailing, Uber has expanded into delivery through its UberEats platform and added a a slew of new products as it aims to attract users but also create a closed business loop wherein each product feeds customers back into other Uber channels. Uber has taken a different approach to Lyft in pursuit of profits. Similarweb’s data also shows that Uber outranks Lyft on both Apple’s and Google’s app stores, and that over the past 12 months, its Android downloads were 22% higher than Lyft’s. ![]() This time last year, Uber only had a 48% advantage over Lyft. In February 2023 alone, Uber had 9.4 million MAUs, a 62% lead over Lyft’s MAU of 5.8 million. Today Uber’s market share has grown from 62% at the start of 2020 to about 74% today versus Lyft’s 26%, according to YipitData.Īnother study from Similarweb shows that Uber leads in monthly active users (MAUs), and that lead has grown over time. market share from Lyft in recent years, through an all-of-the-above approach that includes food delivery and even transit services. Uber, already a larger company, has taken more U.S. ![]() ![]() It keeps us honest and allows us to play off one another a bit.” In so many other markets, you really want, as a customer, some choice, and I think as a driver, you want choice. And I think this duopoly is a good thing. “The reason I say that is because in this type of marketplace where you have competitors, you can’t be losing share to the other guy if you want to be around long term. “The first order of business here is to focus on the basics of ride-share,” Risher said. Instead of adding new products like delivery or even selling the company (both of which Risher says aren’t going to happen), Lyft is going back to basics. ![]() While nothing is yet decided, the potential move is an example of how Lyft’s new management hopes to stem its losses and, eventually, pry some market share back from its main competitor and oft-described big brother Uber. For Uber and Lyft, carpooling has historically been a money pit, a loss-generating ploy to attract riders with cheap fares. Both companies dropped their carpooling services during the pandemic before reinstating new versions later. Lyft, co-founded by Logan Green and John Zimmer, launched shared rides in 2014 on a small scale before expanding the service. “Maybe it’s time for us to say the shared rides were great for a time, but it’s time to let that go.” “It’s possible that maybe we don’t need both of those anymore and that we can focus all our resources on doing a fewer number of things better,” Risher, the former Amazon executive, told TechCrunch. For instance, the Wait & Save feature, which allows riders in certain regions to pay a lower fare if they wait for the best-located driver, may end, he said. Lyft might once again drop its shared rides offering, just one of several changes the company’s newly appointed CEO could make in a bid to focus on its core ride-hailing business and become profitable.ĭavid Risher, who is taking over as Lyft’s CEO in mid-April, told TechCrunch in a wide-ranging interview that other features may also be axed. ![]()
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