Lyft reaches its top position as Uber lost its value in the US
Recently Uber has lost its value in the US, in its biggest market as the ride-sharing service stumbles from a series of crisis. The real fact is that Lyft is taking its toll with the gigantic company Uber’s market share falling from eighty-four percent at the beginning of this year to about seventy-seven percent and also the research firm uses the anonymous credit card data. The ride-sharing company Uber’s global sales are still developing. On the other side of the flip, the growth rate in the US is decreasing gradually and the investors have become particular after a certain period of crisis has left its top ranks on the list.
It has been facing a tough competition globally from the companies such as Ola in India and Grabs in Southeast Asia. Due to the major reason that the ride-hailing companies depend on the network effects and also having more number of riders and drivers which lead to a Award winning fleet maintenance software With more efficient system and there is also the greatest advantage to being the largest market in the given market.
A few days ago Uber which has been valued at sixty-three billion dollars and they have tried to give confirmation statement for the investors by sharing new projections for the growth. The investors are concerned that Uber may be self-destructing to some extent and in the situation of high valuation; it was priced for the perfection.
A recent report says that Uber’s annual growth in the US reduced to about forty percent at the end of May month which has been varied from fifty-five percent in the previous year. Lyft which has completed six hundred million dollars and it has expanded into one hundred and fifty cities. Lyft’s last year’s revenue is about seven hundred and eight million dollars which are about one-ninth of Uber’s. A recent report says that Lyft’s gross ride revenue was about one billion dollars during the first four months of the year and it would have been five billion dollars over the same period in the US. The US-based gigantic company Lyft which is the fleet maintenance management software and it most popular one has been successful in the location of San Francisco, where it has captured about forty percent of the market and it is said to be that Uber is also based in the city. Lyft shares are more in demand among the wealthy investors who are looking eagerly for the wealthy investors in order to buy into the tech startups through the private markets.
The San Francisco organization buys the shares from the early stage venture capital firm in order to look for the cash out the statement. The company shares are transforming from one hand to another in some of the private deals in a range varying between from twenty-five dollars to that of thirty dollars.
While that is less than that of thirty-two dollars a share value in Lyft’s latest funding scheme. Due to lack of the transparency in the private markets the prices can vary in a huge difference with more than that of being paid for the preferred stock than that of the common shares. This trend may keep the Lyft employees motivated as the organization looks to close its market share gap with that of the Uber.
Whether Uber losing its employees?
The US-based gigantic company Uber has started to lose it employees and it has dominated the lists of best places to work. It also outflanks the other American companies in the ranking list. It is said to be that it consistently top ranked the company and it was named the fifth most desirable place to work. A report says that Uber employees are already paid an average of about two lakhs seventy-nine thousand dollars a year.
The number of applicants is still growing in a gigantic number at Uber. Since the field is a competitive one most of the engineers may try to apply for the multiple companies. A study research exclaims that applicants for the self-driving cars across the industry were about sixty-nine percent male and about twenty-seven percent were unidentified and about six percent were women. The company has about four-star rating and focusing on the female employees the company has a rating about three. Most of the employees in Uber have struggled a lot in order to liquidate one of the most valuable parts of their compensation.
The US-based gigantic company Uber lost almost three billion dollars a year ago. According to Report is said to be that most of the carmakers have convinced themselves that making vehicles is no longer enough. The Ford Motor’s main target is to make twenty percent margins in the field of mobility services. A recent report says that Lyft’s share of the market has risen to just under twenty-five percent and one source close to the company exclaims that it is closer to about thirty percent. Uber lost its fame and its executives due to illegal behavior.
Lyft’s added feature
Lyft is one of the best transportation network companies which was found in the year 2012 and still now it does not has entered any trouble or issues. In Lyft’s top markets some of the drivers are using a digital device which is called Amp that is designed especially for the Lyft riders. This digital device is a two-way communication tool and is said to be the most well-known one. It has a specialized screen that outwardly projects one of the seven colors. The travelers know it’s their car if it matches the color on their app. It is already improving the pickup times and also reducing the cancellation rates and it can also aid Lyft to close the gap with Uber.
On the other side of the flip, Lyft has grown steadily in a survey of about five years and is valued in the private markets at eight billion dollars the San-Francisco based company which has been dominated by cross-town rival Uber which is valued at seventy billion dollars. Recently, Uber has created major issues in terms of the criminal investigation into its business practices from the staffs alleging inequity has given Lyft a base in order to make up some ground. A recent report says that the company entered one hundred and thirty-one markets in the first quarter of the year and provides about consumers about seventy million rides. The company also raised another six hundred million dollars in order to fund its expansion efforts. Lyft is enumerating on Amp in order to differentiate its customer experience from Uber’s.
In adding benefits for the passengers the device has a screen that faces the drivers so that it can alert them into a customer’s name or it can also indicate if a major event is arising in the area. The two screened approach will make convenient for the riders in order to know which Lyft has to enter and also to eliminate the point of the last fifty feet. Amp also allows the hearing impaired in order to drive and entices the drivers to pick up more fare amount. Eventually, the screens will glow in major custom colors. The devices have to endure freezing temperatures in winter and scorching heat during the summer.