Uber's IPO Filing Shows How Much of a Lead It Has on Rival Lyft

Apr 11, 2019 178 Comments

2018 Revenue
———————

Uber: $11.3 billion

Lyft: $2.2 billion

2018 Loss
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Uber: $1.85 billion (Adjusted EBITDA loss)

Lyft: $911 million

Total Cities
—————

Uber: 700+ (globally)

Lyft: 300+ (across U.S. and Canada)

2018 Booking revenue from ride-hailing service
——————————————————-

Uber: $41.5 billion

Lyft: $8.1 billion

Users in 2018
——————-

Uber: 91 million (including other services like Uber Eats)

Lyft: 30.7 million

Drivers in 2018
———————

Uber: 3.9 million

Lyft: 1.9 million

Rides in 2018
——————

Uber: 5.2 billion (includes scooter and bike rides, Uber Eats deliveries)

Lyft: 619 million

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TOP 178 Comments
  • Indeed / Eng teeni
    Or groupon of coupons
    Apr 11, 2019 18
    • Uber Yaka
      @goodforu how does the market agree with you? Uber isn't even public yet. People who are shorting Lyft won't necessarily do that for Uber. Might want to wait a couple of quarters to see what happens
      Apr 12, 2019
    • Amazon ASXF21
      Uber is good for us minorities. No more rejections or drivers abandoning you to your luck late at night.
      Apr 13, 2019
  • Facebook
    We Will

    Facebook

    PRE
    Google
    We Willmore
    👌

    Uber might be heading towards Amazon of transportation
    Apr 11, 2019 9
    • Expedia pERd08
      Dara is a great CEO. The worst thing to ever happen to expedia was his departure.
      Apr 12, 2019
    • Uber Nikki K
      You can have him back, Expedia
      Apr 16, 2019
  • Microsoft / Eng dKWp30
    Uber is burning through cash like crazy. Does it have a viable plan to become profitable?
    Apr 11, 2019 23
    • Uber / R&D jidao
      Disagree, you can pay each individual to come over, now some network effect is more expensive than others but every network effect can be bought with enough money.

      Now I'm not saying Uber is the same as Amazon, just it's ridiculous to eat that Uber doesn't have a network effect because if you throw enough money you can enter the market. It's true for every market... Just some market have a stronger network effect (in more expensive to disturb) than others but there is definitely a network effect in ride sharing business
      Apr 13, 2019
    • Google praise
      Paying each individual user to come over is hard because the relationship is far more complex than Uber. Uber relationship is basically two entities drivers and riders unlike Facebook which has more actors and complex relationships between them.

      Another factor to consider is Uber is much more localized than Amazon/fb. A competitor doesn't even have to compete on a mass scale. He can focus on top cities and compete. Although Uber doesn't disclose but it would be top heavy just like many other companies as in few cities driving majority of the revenue. A competitor has to get in only in those areas.

      Absolutely I don't deny the network effect part. My point being it is far easier to break the network or join the network as compared to other network effect businesses.
      Apr 13, 2019
  • Microsoft iamainot
    Incorrect. Lyft was for sale just a couple of years ago but now is kicking Uber’s ass in the US and will eventually internationally as well. Uber’s bro culture was exposed for what it was, and they have entered full damage control mode since the new CEO took over. Damage control mainly focused on sealing the leaks, not rebuilding from within though.

    Given both of those companies are considered “growth” plays, who do you think will grow more?
    Apr 11, 2019 7
    • I am also disappointed that no bros and rockstars around. it is like microsoft with 2x pay.
      Apr 12, 2019
    • Two Sigma blarh
      Shut up microsoft lol
      Apr 13, 2019
  • Microsoft Cheech🔥
    If uber ever turns profitable they should acquire Tesla
    Apr 11, 2019 3
    • Lol no please. Tesla is a sinking ship.
      Apr 12, 2019
    • Hired VseC37
      Explain please?
      Apr 12, 2019
  • Salesforce Engforce
    5 times more revenue and 2 times more lost. And they are operating in non-US cities which are supposed to be less profitable.

    Uber is way ahead here.
    Apr 11, 2019 2
    • Medallia / Eng ouie
      That was one fucking year. How can people like this comment?
      Apr 12, 2019
    • Uber / R&D jidao
      Because we work so Uber
      Apr 13, 2019
  • Uber ccvbjkn
    What those numbers actually show is how much Lyft is exaggerating and fudging numbers.

    The cities number couldn’t make it more obvious. 300+ vs 700+ when they are both in all the same cities in the US and Canada and Uber is in multiple cities in like 68 other countries. Lyft probably counts each suburb of a major city as another city. Using Lyft’s metric, Uber’s count would probably be 3000+ cities.

    Same goes for the driver and rider counts. Lyft is probably counting everyone that has ever driven or been driven and Uber is probably counting monthly active drivers and riders.

    I don’t know how anyone could believe that Lyft is doing like 1/5 the gross bookings with half as many drivers in a market with a very high relative PPP. Even if that were true, that’s atrocious efficiency.
    Apr 12, 2019 3
    • Uber ccvbjkn
      We stopped thinking in terms of cities launched ages ago.

      Edit: for example, I’m flying into a city next week that has Uber but isn’t on that list and is about 3-4 hours from the closest city on that list.
      Apr 12, 2019
    • New / Mgmt
      xyz69

      New Mgmt

      BIO
      Senior management in software development
      xyz69more
      What these numbers are showing is that both Uber and Lyft have an unhealthy business model and will not stay afloat for more than a couple of years. It's time for competition with a better business model. The technology isn't that special, you just need to be able to enter this insane market.
      Apr 13, 2019
  • This comment was deleted by original commenter.

    • We'll have to see how their insurance expenses change once they go driverless. Uber pays massive amounts for 3rd party insurance and reinsures the policies. They have $10B in investments. Probably mostly related to reinsurance
      Apr 12, 2019
    • Microsoft sqiF24
      Pinning hopes on automated cars is a recipe for failure. They are a decade away from becoming reality at best.
      Apr 12, 2019
  • Microsoft
    Tier 1

    Microsoft

    BIO
    #1 in Prestige
    Tier 1more
    How is Lyft burning so much more cash per ride?
    Apr 12, 2019 5
    • Qualtrics ❄️IsComing
      I agree with the verticals, particularly freight seems a interesting. Other points are not competitive advantage
      Apr 12, 2019
    • Uber Yaka
      It's a competitive advantage if it is cash flow positive
      Apr 12, 2019
  • Qualtrics ❄️IsComing
    I highly recommend listening to equity podcast by TechCrunch. Particularly alarming here is Uber’s quarterly revenue growth. Uber revenue grew by only 1% from Q3’18 to Q4’18!!! Operational cost went up by a lot this time but accounting did trick by showing $1M tax credit in Q3 and $322M tax credit in Q4! Also YoY quarterly growth is 22% (S1 page 122). One article by The Verge today showed there’s no way scooter share will make money. These companies are going IPO when growth rate really slowed down. When you are making loss like this if you don’t grow you cannot make money ever, period.
    Apr 12, 2019 9
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      Seriously did they write this so explicitly?
      Apr 13, 2019
    • Qualtrics ❄️IsComing
      Just search the text in s1
      Apr 13, 2019

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