Welcome to the world of Lyft, where ridesharing and the gig economy meet innovation, creating a (mostly) seamless and efficient transportation experience for millions around the US and Canada. As we delve into Lyft statistics, we will uncover the vital metrics that define the company’s impact on the ridesharing landscape. From the number of active riders to revenue insights and expansion details, this curated list compiles comprehensive Lyft statistics to provide you with a holistic view of the company’s performance and influence.
Whether you’re a researcher, a Lyft enthusiast, or you’re simply curious about the dynamics of modern urban mobility, our Lyft statistics guide is your go-to source for valuable insights.
Key Lyft Statistics
- In 2023, Lyft was the second-largest ride-hailing company in the US with a market share of 26%.
- Lyft had its initial public offering (IPO) on March 29th, 2019.
- As of Q3 2023, Lyft’s revenue reached $1.15 billion.
- There were 22.4 million Lyft quarterly users in Q3 2023.
- As of January 2024, Lyft employed 2 million drivers.
When Was Lyft Founded?
Lyft was founded by Logan Green and John Zimmer in 2012 in San Francisco, California. The company initially operated as a service under Zimride, a long-distance ridesharing service established by Logan Green and John Zimmer in 2008.
Who Owns Lyft?
Lyft is a public company owned by various stakeholders, with 41.70% held by institutional investors, 39.10% by mutual fund holders, and 27.98% by individual stakeholders.
Fidelity Management & Research Co is the majority institutional owner, holding approximately 13.80% of the company’s stock.
As per the latest data from Yahoo Finance, Lyft’s top three individual stakeholders in 2023 were founder and Director Mr. John Zimmer, CEO David Risher, and CAO Lisa Blackwood-Kapral.
Who is the CEO of Lyft?
As of January 2024, David Risher served as the CEO of Lyft. Risher previously held key positions at Amazon, serving as the first Head of Product, Head of U.S. Retail, and a General Manager at Microsoft.
Logan Green served as the CEO of Lyft from its foundation up until the point when he and co-founder John Zimmer decided to step down in April 2023. They transitioned to non-executive positions as chair and vice chair of the Lyft board.
Lyft Business Statistics
Lyft operates as a peer-to-peer marketplace connecting drivers with riders. As of September 2023, it was the second-largest ride-hailing company in the US with a market share of 26% behind its main rival Uber.
In November 2022, Lyft held the position as the second-largest global ride-hailing and taxi operator with an 8% market share. Lyft’s limited global market share can be attributed to its exclusive operations in the US and Canada.
History & Timeline of Lyft
Logan Green and John Zimmer introduced Lyft as a ridesharing app offering shorter rides as a distinct service under the carpooling company Zimride in San Francisco, California in 2012.
Lyft used a fuzzy pink mustache emblem for the front of drivers’ cars which served as a recognizable symbol for the brand and helped the service expand quickly.
In 2013 Zimride secured $15 million in funding during a Series B round, led by the Founders Fund. Following this, Zimride was acquired by Enterprise for an undisclosed sum. Subsequently, Lyft transitioned to operate independently as a standalone company and extended its services outside of San Francisco to Los Angeles.
In 2014 Lyft announced plans to expand to 60 cities, including New York City. The company temporarily waives driver commissions and reduces customer fares by 20%. Additionally, Lyft raised $250 million from Coatue, Alibaba, and Andreessen Horowitz in a funding round, bringing its total raised amount to $332.5 million.
The iconic fuzzy pink mustache on Lyft drivers’ cars was replaced by the illuminated “Glowstache” on the dashboard in 2015. A year later, Lyft introduced “the Amp” as a replacement for the Glowstache. The Amp, a small Bluetooth-enabled device on the dashboard, helps passengers identify their Lyft vehicle.
In 2015, Lyft secured $530 million in funding from Rakuten Inc. and an additional $150 million from Carl Icahn, bringing the total funding to $780 million. Additionally, Lyft expanded into the Asian market through a strategic partnership with Didi Chuxing, China’s ride-hailing king, which invested $100 million.
This collaboration facilitated ride-hailing for Lyft users with Didi cars in China and vice versa. Subsequently, Lyft extended its Asian partnerships to include Ola Cabs in India and GrabTaxi in Southeast Asia.
In January 2016, General Motors invested $500 million in Lyft. The alliance aimed to advance autonomous vehicle development and establish a network for self-driving cars within Lyft’s ride-sharing platform.
Lyft took further steps toward international growth in 2017 by launching its services in Canada. The company started its operations in Toronto, Ontario.
In 2018, Lyft recorded its billionth ride and doubled its ride count from 500 million from the previous year. According to Lyft, it consistently facilitated over 50 million rides each month.
Furthermore, the company diversified its offerings with the acquisition of bike-share company Motivate in July and launched a scooter rental program in Denver.
Lyft was flying high until COVID-19 and its economic consequences came crashing down.
The impact of COVID-19 was evident in the decrease in Active Lyft Riders and revenue per Active Rider, declining from 22,905 in 2019 to 12,552 in 2020. Most people were staying at home and the thought of getting into a cramped space with a stranger wasn’t exactly enticing. Consequently, Lyft reported a loss from operations totaling $1.8 billion, along with a corresponding net loss of $1.8 billion, according to company filings.
To adapt to market dynamics, Lyft strategically sold its self-driving car division to a subsidiary of Toyota Motor Corporation in July 2021, securing a cash consideration of $515 million.
However, a year later Lyft established a partnership with Motional, a global leader in driverless technology. The collaboration announced the planned launch of a fully driverless ride-hail service in Los Angeles, utilizing Motional’s all-electric Hyundai IONIQ 5-based robotaxis.
In 2022, Lyft took proactive steps to improve the Lyft driver experience by introducing Lyft Maps. This innovation aimed to enhance navigation, safety, and overall efficiency for both Lyft riders and drivers.
Lyft’s IPO
Lyft had its initial public offering (IPO) on March 29th, 2019. The IPO price was set at $72 per share, and the company offered a total of 32.5 million shares. When trading commenced on the Nasdaq, Lyft’s stock debuted at $87.24.
As of January 2024, the stock is valued at $12.57 per share.
Lyft Revenue Statistics
According to Lyft’s latest stats, quarterly Lyft revenue in Q3 2023 reached $1.15 billion, reflecting a 10% year-over-year increase.
As per Lyft’s annual 2022 report, the company generated a record-high revenue of $4.1 billion, marking the highest figure since its inception. The gross profit for Lyft in the fourth quarter of 2022 was $1.6 billion, indicating a 10% increase from the previous year.
| Year | Lyft’s Annual Revenue |
| 2022 | $4.1 billion |
| 2021 | $3.2 billion |
| 2020 | $2.3 billion |
| 2019 | $3.6 billion |
Furthermore, Lyft achieved its highest-ever revenue per active rider, with an average revenue per active rider reaching $57.72.
| Year | Lyft’s Revenue Per Active Driver |
| 2022 | $57.72 |
| 2021 | $51.79 |
| 2020 | $45.40 |
| 2019 | $44.40 |
Lyft’s revenue is primarily generated from its ridesharing marketplace collecting fees and commissions from Lyft drivers. Additional revenue streams include renting vehicles, services in the Lyft app, and Lyft Business offerings. In 2021, Lyft’s revenue expanded to include licensing and data access agreements.
Furthermore, in 2022, Lyft began generating revenue from bike and bike station sales through the acquisition of PBSC Urban Solutions Inc.
From 2019 to 2021, Lyft had declining net losses; however, in 2022, the annual net profit declined again, driven by net losses totaling just under $1.6 billion for the year.
As of January 2024, The Lyft app had more than 50 million downloads on the Google Play store and held the fifth position among Travel apps on the Apple App Store, maintaining a 4.9-star rating from 13.8 million reviews.
Lyft Active Riders Statistics
Lyft caters to individual needs, but it also extends its services to businesses through Lyft Business Accounts, assisting companies in managing transportation for their employees.
In Q3 2023 there were 22.4 million Lyft quarterly users, reflecting a 10% year-over-year growth. According to the company’s latest annual report, this figure contributes to the broader overview of Lyft’s annual ridership statistics:
| Year | Lyft’s Annual Active Riders |
| 2022 | 20.4 million |
| 2021 | 18.7 million |
| 2020 | 12.5 million |
| 2019 | 22.9 million |
Furthermore, with 187 million Lift rides, the company experienced a 20% year-over-year growth up to Q3 2023, driven by increases in rideshare rides and bike and scooter rides.
As of January 2024, Lyft served customers in 642 cities across the US and 17 cities in Canada. The maximum travel distance for Lyft riders is 100 miles.
As per Lyft’s Economic Impact report, Lyft riders in the US have a median household income of $55,000, while their Canadian counterparts have a median income of $69,000.
47% of riders are members of a community of color and 16% are part of the LGBTQ+ community.
Riders predominantly utilize the Lyft app for transportation to/from airports and for getting to/from entertainment and recreation.
Lyft’s popularity has resulted in a reduction of personal vehicles, with Lyft riders owning over 8 million fewer vehicles due to rideshare.
Approximately 38% of riders who have access to a personal vehicle use it less because of Lyft and other ridesharing services, and a significant portion of Lyft riders, around 40%, do not own or lease a car.
As per company data on LinkedIn from January 2024, there were over 20,000 associated members with Lyft. Furthermore, there were 2 million Lyft drivers.
According to ZipRecruiter, an average Lyft driver in the US will make $16 per hour in 2024. The top five highest-paying cities for Lyft drivers’ salaries are located in California:
| City | Lyft Drivers’ Hourly Wage |
| San Buenaventura, CA | $21.98 |
| San Francisco, CA | $19.24 |
| San Jose, CA | $18.61 |
| Oakland, CA | $18.21 |
| Hayward, CA | $18.18 |
Lyft drivers generate income based on the duration and distance covered in each ride. Drivers can maximize their earnings by working during peak hours when demand for rides is higher, resulting in potential pay surges.
Additionally, Lyft drivers can earn bonuses by driving in high-demand areas completing streaks, and participating in ride challenges.
Lyft driver requirements vary by state, province, and city. These include meeting an age requirement typically ranging from 21 to 25, which varies based on the specific location.
Additionally, drivers must adhere to various company requirements, including:
- Vehicle verification
- Clean driving history
- Passing a background check
- DMV check
- Valid driver’s license, license plates, and insurance
- Completion of the Mandatory Community Safety Education program
As per Lyft company data from January 2024, 94% of Lyft drivers worked fewer than 20 hours per week. Flexibility is a top priority for 94% of drivers, emphasizing the platform’s accommodation for diverse schedules.
Additionally, 90% of Lyft drivers manage other work or are students, showcasing the platform’s appeal to those seeking flexible earning opportunities alongside other commitments.
Lyft Transportation Network
Lyft has crafted a dynamic transportation network that extends beyond traditional ridesharing, encompassing innovative services.
Moreover, Lyft’s ride-hailing marketplace offers a diverse range of vehicle options catering to every rider’s budget and preferences.
In 2022, Lyft riders collectively covered more than 91 million miles using bike-share systems such as bikes and motorized scooters.
In fact, according to Lyft statistics, 42% of New Yorkers used Lyft-operated shared micromobility such as bikes and motorized scooters in their daily commutes.
Lyft vs Uber
No exploration of Lyft’s impact is complete without analyzing its prominent counterpart, Uber.
For example, as per the chart below by Bloomberg Second Measure, both Uber and Lyft witnessed a substantial decline in sales amid the pandemic but Lyft slid further than its rival.
In April 2022, Uber’s sales returned to pre-pandemic levels and remained high through 2023. In contrast, Lyft’s sales by December 2023 still hadn’t fully recovered to pre-pandemic levels.
As of January 2024, Uber dominates the market with a market capitalization of $134.90 billion, leaving Lyft behind at $4.95 billion.
In 2022, Uber reported an annual revenue of $8.6 billion, overshadowing Lyft’s $4.1 billion. This trend continued in Q3 2023, with Uber’s revenue reaching $9.3 billion, significantly outpacing Lyft’s $1.15 billion.
The substantial difference in revenue between Uber and Lyft could be attributed to Uber’s potentially higher fares, as indicated in the image below, comparing fares between downtown Los Angeles and Santa Monica, California. However, this isn’t always the case as both services use complex algorithms to price rides and they can vary tremendously.
Furthermore, Uber has established a broader global presence, operating in over 10,000 cities worldwide. Its longer tenure in the market contributes to widespread recognition, potentially leading to more users choosing Uber over Lyft.
The Future of Lyft
Lyft’s commitment to transitioning to 100% electric vehicles (EVs) on its platform by the end of 2030 is a significant step towards a more sustainable future.
The introduction of the “Green” mode in select cities, allowing riders to easily access EVs and hybrid vehicles, reflects Lyft’s dedication to reducing its carbon footprint. The expansion of “Green” to major markets demonstrates a proactive approach to promoting sustainable travel.
As Lyft continues to advocate for smart policies and makes strategic investments in sustainability, the future looks promising.
By integrating sustainable practices, including providing incentives for drivers such as earnings bonuses, fast charging discounts, cashback on public charging, and home charging discounts, Lyft plays a vital role in shaping a greener, more environmentally conscious future in the ride-hailing market