Lyft, known for its glowing pink mustache, is a privately held American transportation network company based in San Francisco.
The on-demand transportation company, Lyft, is slowly but steadily stabilizes against its biggest competitor, Uber.
According to Lyft co-founder and President John Zimmer, $1-billion gross revenue is what the San Francisco Company is expecting to have by the end of the year. And to some of the country’s most tech-savvy cities, Lyft is also claiming to have an impressive amount of market share.
Zimmer said at the Los Angeles Auto Show, that last October, the company completed more than 7 million rides across the country and gained 40 percent market share in San Francisco, and 45 percent in Austin, Texas. While Uber, the biggest competitor of Lyft, is said to have $2 billion revenue in 2015, proving that Lyft may take a while before it catches up with Uber.
For international expansion, Lyft is said to have a partnership with China’s largest ride-hailing service, Didi Kuaidi.
