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#DeleteUber was the spike Lyft needed

(22 Views) April 27, 2017 6:09 pm | Published by | No comment
Lyft

Lyft

Uber’s stumbles were Lyft’s gain, according to new financial numbers leaked to Bloomberg

As a result of the #DeleteUber campaign, more than 200,000 people deleted their accounts from Uber. Many of those apparently flocked to Lyft, its main US competitor. 

According to Bloomberg, Lyft’s bookings in February jumped up 137% from the previous year, totaling more than 22 million rides. Ridership also grew to nearly 5 million monthly passengers. Despite the gains in bookings, the company still projected to lose $ 130 million in the first quarter of 2017. Net revenue was not disclosed.

Lyft’s numbers still trail Uber, their rival who operates globally in more than 75 countries. Lyft had $ 800 million in gross bookings for its first quarter, putting it on a run-rate for $ 3.2 billion. Uber, in contrast, booked $ 20 billion in rides for all of 2016. However, Uber doesn’t separate its US numbers so it’s hard to tell how they compare head-to-head. 

Lyft, though, seems to have made up some market share as Uber has stumbled in light of Travis Kalanick’s participation in the Trump Advisory council, the subsequent #DeleteUber campaign, and an investigation into its workplace culture. Beyond the boost to its ridership numbers, it also recently raised $ 600 million from KKR to fund its fight against Uber. 

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The post #DeleteUber was the spike Lyft needed appeared first on Business Insider.

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