Lyft

Lyft, Inc.
Company typePublic
IndustryVehicle for hire
FoundedJune 9, 2012; 12 years ago (2012-06-09) (as Zimride)
Founders
Headquarters185 Berry Street, Suite 5000 San Francisco, California, U.S. 94107
Area served
  • United States
  • Canada
Key people
RevenueIncrease US$4.40 billion (2023)
Negative increase −US$476 million (2023)
Negative increase −US$340 million (2023)
Total assetsIncrease US$4.56 billion (2023)
Total equityIncrease US$541 million (2023)
Number of employees
2,945 (2023)
SubsidiariesMotivate
Websitelyft.com
Footnotes / references
[1]
Lyft's pink car mustache
Lyft's distinctive pink mustache was the first branding the company used until 2015 when it switched to a smaller, glowing magenta mustache that sits on a driver's dashboard.

Lyft, Inc. is an American company offering ride-hailing services, motorized scooters, bicycle-sharing systems, and rental cars in the United States and select cities in Canada.[1][2] Lyft sets fares, which vary using a dynamic pricing model based on local supply and demand at the time of the booking and are quoted to the customer in advance, and receives a commission from each booking. Lyft is the second-largest ridesharing company in the United States after Uber.[1]

Lyft classifies its drivers as independent contractors, a practice that has drawn criticism and legal challenges because it allows the company to withhold worker protections that it would have been required to provide to employees.[3][4] Studies have shown that, especially in cities where it competes with public transport, Lyft contributes to traffic congestion, reduces public transport use, has no substantial impact on vehicle ownership, and increases automobile dependency.[5][6][7]

  1. ^ a b c "Lyft, Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 20, 2024.
  2. ^ "Lyft: A ride whenever you need one". lyft.com. Archived from the original on February 15, 2023. Retrieved February 15, 2023.
  3. ^ Sainato, Michael (August 27, 2021). "'I don't like being treated like crap': gig workers aim to retool a system they say is rigged". The Guardian. Archived from the original on October 31, 2021.
  4. ^ Luna, Taryn (November 4, 2020). "California voters approve Prop. 22, allowing Uber and Lyft drivers to remain independent contractors". Los Angeles Times. Archived from the original on January 4, 2021.
  5. ^ Cite error: The named reference BI congestion was invoked but never defined (see the help page).
  6. ^ Cite error: The named reference Verge congestion was invoked but never defined (see the help page).
  7. ^ Cite error: The named reference WSJ congestion was invoked but never defined (see the help page).