At the start of the year, #DeleteUber trended worldwide after a couple of major missteps by the divisive ridesharing service. Outraged consumers deleted the Uber app en-masse from their phones and flooded to other transportation methods, including old-school taxis and Lyft.
According to numbers obtained by Bloomberg, Lyft benefited significantly from the turmoil at its larger rival, with increased bookings and revenue.
22.8 million monthly rides took place on the Lyft in February, up 137 percent from the same month a year ago, according to leaked fundraising documents which also noted the company was beating internal growth targets.
In addition, active passengers rose to 4.8 million in February 2017, which is 125 percent more than the previous February.
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It’s been a good few months for Lyft. The company sealed a $600 million fundraising round earlier in April, which values it at $7.5 billion. Several investors, like KKR & Co. and asset manager Baillie Gifford, expect the US’s second biggest ride-sharing company to go public in the next few years.
Uber remains top dog, but it’s clear that there’s an immense appetite for an ethical alternative. If Lyft cements its reputation as that, it will only continue to soar.
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