Lyft Revenue and Usage Statistics (2021)

Mansoor Iqbal

Updated: July 2, 2021

Launched three years after Uber, Lyft was originally a long-distance car-pooling business, launched by Logan Green and John Zimmer. While Zimride, named after the transportation culture in Zimbabwe (the co-founder’s last name is a coincidence), was the largest app of its type, both co-founders quickly started looking for ways to improve daily engagement.

The solution was to begin offering shorter rides in cities, with passengers and drivers connecting. It wasn’t long before the Zimride service mimicked Uber, although Lyft originally tried to foster more of a friendly, non-business approach to the service.

Lyft expanded quickly in the US, from 60 cities in 201 to 300 in 2017, however, Uber was otherworldly in its expansion, planting its flag in almost every country that would allow it. This left Lyft in the shadow of Uber and unknown to anyone outside of the US.

It wasn’t until the Cancel Uber campaign that Lyft started eating into Uber’s marketshare in the US. Lyft went from 22 to 33 percent market share in the US from 2017 to 2018, although that has cooled off with 29 percent market share in 2020.

Lyft launched several initiatives which attempted to paint its service in a more positive light, as Uber was chastised for its employment model. This appears to have worked, as Lyft has moulded itself as the scrappy underdog.

Similar to Uber, Lyft had a self-driving division and saw the future as one in which a human driver would no longer be necessary. However, it sold its division to Toyota in April 2021 for $550 million, citing the high costs of producing and testing self-driving vehicles.

We have collected data and statistics on Lyft. Read on below to find out more.

Lyft key statistics

  • Lyft generated $2.3 billion revenue in 2020, a 36 percent decrease year-on-year
  • Lyft’s average revenue per rider increased to $45.40 in 2020
  • In Q4 2020, 12.5 million people rode with Lyft. This is 45 percent less riders than in Q4 2019

Lyft overview

Launch date 9 June 2012
HQ San Francisco, California
People Logan Green (co-founder, CEO), John Zimmer (co-founder, president)
Business type Public (NASDAQ: LYFT)
Industry Ride hailing

Lyft revenue

Year Revenue
2017 $1 billion
2018 $2.1 billion
2019 $3.6 billion
2020 $2.3 billion

Lyft profit

Year Profit
2018 ($911 million)
2019 ($2.6 billion)
2020 ($1.7 billion)

Note: This refers to Lyft’s annual net income 

Source: Lyft 

Lyft APRU

Year APRU
2018 $36.02
2019 $44.40
2020 $45.40

Note: This refers to APRU in the fourth quarter of each respective year 

Source: Lyft

Lyft users

Year Users
2016 6.6 million
2017 12.6 million
2018 18.6 million
2019 22.9 million
2020 12.5 million

Lyft vs Uber market share

Want to learn more about the ride hailing market? Read our sector profile 

Lyft FAQ

How many cities does Lyft operate in?

Lyft operates in 644 US and 12 Canadian cities or towns

What is Lyft’s market share?

Lyft’s market share in the US in 29 percent (Second Measure)

How many drivers work for Lyft?

Lyft has over two million drivers

What is the average annual wage for a Lyft driver?

Average Lyft driver average salary at $29,627 (Indeed)

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