Lyft Reports Strong Revenue Growth, $1.1 Billion Loss
https://www.wsj.com/articles/lyft-reports-strong-revenue-growth-1-1-billion-loss-11557259916
May 07, 2019
Lyft reported a surprising $776 million revenue in its
first quarter operating as a public company. Lyft is reportedly growing at a
faster rate than its biggest competitor, Uber. As a Lyft and Uber user myself,
I do personally notice Lyft puts a lot more effort into their marketing. I am
constantly getting promotions from Lyft to use them and receive a couple dollars
off their services, while I do not typically get these kind of promotions from
Uber. This type of marketing was mentioned in the article and is believed to have
played a major role in Lyft's unexpected revenue.
By Lyft directly going to the consumers,it is benefiting them greatly. More consumers are willing to use their service when there are promotions.
ReplyDeleteGreat article, I haven't use lyft, but from what my friends tell me, their services is not too different. Yet I notice there is a preference for Uber and I believe one of the reasons is due to the options Uber gives users. Another reason could be the Uber Eats service, since many restaurants have the option to deliver through Uber Eats this promotes Uber's transportation at the same time it delivers the products.
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