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Leaked Lyft Document Reveals a Costly Battle With Uber

Discussion in 'Lyft Riders Forum' started by Dreamer, Apr 30, 2015.

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  1. Dreamer

    Dreamer
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    The startup also describes its rival as having an “anti-social culture”

    Behind the friendly pink mustaches and fist bumps, Lyft is spending furiously to maintain second place in the U.S. ride-sharing industry, and steal market share from the distant leader, Uber Technologies. The expensive battle plan helped Lyft claim a fourfold increase in active passengers on 2.2 million rides in December 2014, but growth is beginning to slow, according to a company presentation to investors that was obtained by Bloomberg. Lyft estimates $130 million in revenue for 2014, according to the document.

    The presentation offers a revealing look inside a company that's sweeping U.S. cities, and attracting the attention of venture capitalists and regulators. The presentation, compiled for its $530 million fundraising round announced on March 12, includes recent and projected revenue, ridership figures, marketing costs, and other data about the business. Lyft and Uber aren't publicly traded, and neither company discloses financial information about its operations. Lyft and Uber declined to comment.

    In addition to providing a window into its business, Lyft had some choice words for its chief rival. The presentation describes Uber as a "top-down model," with an "exclusive mentality" and "anti-social culture." It says Lyft's growth is led by drivers—32 percent of whom are female—and has a "trusted brand" and "social experience." The companies compete vigorously to woo investors who can fund their operations. Uber's $40 billion valuation dwarfs that of Lyft, which counts Japan's Rakuten, China's Alibaba and the Silicon Valley venture capital firm Andreessen Horowitz among its investors. Bloomberg LP, the parent company of Bloomberg News, is an investor in Andreessen Horowitz.

    http://www.bloomberg.com/news/artic...ft-document-reveals-a-costly-battle-with-uber
     
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  2. UL Driver SF

    UL Driver SF
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    That's pretty funny.
     
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  3. ClevelandUberRider

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    In many cities, Uber and Lyft are essentially a duopoly. Duopolies typically make much more profits as an industry (the two companies combined), but still nowhere as close to the profits of a monopoly or near-monopoly. That is why Uber has been trying its best to drive Lyft out the market, even when Uber itself as a company overall is likely losing money.
     
  4. Billy Colbert

    Billy Colbert
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    Boy Cleveland, you have been busy.. Just joined yesterday and already 47 messages! I think you are right. It's not just about a drive to the bottom to see who can give the cheapest rides, it is an effort to put Lyft out of business so they can then raise their rates as a monopoly.
     
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  5. ClevelandUberRider

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    Yeah I will try to drive for Lyft and help Lyft increase their market share as much as I can. Markets are healthy when there is competition.
     
  6. ClevelandUberRider

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    Yes, I am trying to volunteer to increase the dialogue going on here on UF in terms of useful conversations, information, and insights. Maybe one day I will be among the top ten most active members ;-)

    I think the UF is a sister site to UP, seeing how similar their platforms look and how similar their user interfaces are. Regardless, I think competition is good for any market, especially so in the market for ideas.

    Are you aware of any other sites where TNC drivers share and exchange their TNC driving experience?
     
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