Lyft says it passed $1 billion in revenue last year — and is growing faster than Uber

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Uber is still much bigger — but Lyft is still alive.

Lyft, the main U.S. ride-sharing rival to Uber, says today that it passed $ 1 billion in revenue in 2017. And it says its revenue grew 168 percent year over year in the fourth quarter of 2017, almost three times faster than Uber’s reported 61 percent growth.

Uber, of course, is still much larger than Lyft — it generated a reported $ 7.5 billion in revenue last year and operates in many more cities and countries. While its fourth-quarter growth may have been smaller than Lyft’s percentage-wise, it was still almost certainly many times larger dollar-wise. Both companies are still unprofitable.

But the big-picture reality is that despite Uber’s head start, its early dominance, ability to raise massive amounts of financing, aggressive (often allegedly illegal) growth tactics, faster move into self-driving cars and everything else in its favor, it has not been able to destroy Lyft.

Instead, Lyft capitalized somewhat on Uber’s missteps and unsavory reputation, raised another $ 2 billion last year, gained market share, launched its first international market last year (Toronto) and seems poised to exist for the foreseeable future.


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After 5 years with Samsung and LG, I moved to a Pixel 2 XL and… nothing has changed

I still remember when we used to bicker over iPhone vs Symbian, before Android took over the second part of that argument. I also remember when Xenon vs LED flash was the most controversial discussion in the smartphone world for several years – some of you may have been toddlers when that started. And I remember when apps weren’t a thing, when 3G was the hottest novelty, when we thanked our lucky stars because companies stopped using massive proprietary charging and earphone ports, and when a smartphone with a 2.8″ display (Nokia N95) counted as monstrous.

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After 5 years with Samsung and LG, I moved to a Pixel 2 XL and… nothing has changed was written by the awesome team at Android Police.

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