Lyft, Inc. is essentially a rideshare company in North America.
John Zimmer is a co-founder of Lyft as well as President of the company.
This company, based in San Francisco, California, uses a web or app platform to orchestrate ride services, food delivery services, and bicycle rentals.
Lyft makes a profit from commissions received for connecting a subcontracted driver to a rider or client food order.
It’s safe to say that many people believe this company, as well as Uber which launched first, is an ingenious innovation.
John Zimmer probably does, too, because it’s provided him with plenty of profit and wealth.
Let’s dive a bit further into this man’s masterpiece.
Overview Of Lyft Stats
We’re going to discuss some Lyft statistics.
This might help you get a better idea of just how successful, or possibly unsuccessful in some areas, this company is.
We’ll be sure to cover all aspects of statistics – from employee information to consumer information and everything in between.
Number of Trips Completed
Lyft has completed millions and millions (if not billions) of trips. The company was founded in 2012.
From January 1, 2016, through the end of 2020, approximately 337.8 million users have been recorded.
The number of Lyft users climbed substantially each year between 2016 and 2019.
Due to the Covid pandemic, these numbers decreased, by nearly half from the previous year, in 2020.
However, it did not take long for the market to bounce back once pandemic travel restrictions began to ease up.
In the fourth quarter of 2021, there were 18.73 million riders actively using Lyft’s services.
Annual Revenue
The 2021 fiscal year revenue for Lyft, Inc. was 3.2 billion dollars.
According to the company’s official website, revenue has grown an average of 36% each year since the company was founded.
Number of Employees
Lyft has approximately 2 million drivers.
This number may have grown since 2021.
It’s important to note, however, that drivers are not classified as Lyft employees.
People who drive for this company are considered subcontractors.
4,675 people were direct employees of Lyft in 2020.
These workers perform office duties such as customer service, research and development, and other office-related tasks.
The elected officials of this company, such as Logan Green and Brian Roberts, can also be considered employees.
These are the big guys, making an average of 5-10 million dollars per year!
Related: How many Uber drivers are there?
Number of Users
According to statistics, there were 18.73 million active users at the end of 2021.
The trend of this company is an increasing one, so it is safe to assume there are more than 18.73 million active users now, at the end of the first quarter of 2022.
However, this information isn’t yet readily available.
Lyft Revenue Stats
Now that we’ve touched a bit on Lyft’s total revenue, let’s see if we can figure out where all that money comes from.
Average Revenue Per Rider
Lyft’s average revenue per rider was $45.40 at the end of the fiscal year 2020.
Once again, we can assume this number has risen with the upward financial trend of this company.
At the beginning of 2016, the average revenue per rider was only $15.88.
This number increased drastically each subsequent year.
Annual Revenue Past Five Years
Lyft’s past three years’ annual revenue information is readily available on their official website.
- 2019 annual revenue – $3,615,960
- 2020 annual revenue – $2,364,681
- 2021 annual revenue – $3,208,323
Assuming the revenue has increased an average of 36% each pre-pandemic year (as stated on its webpage), it’s safe to estimate that 2018’s annual revenue was likely somewhere in the low 3 millions and 2017’s was likely somewhere in the range of the high 2 millions to 3 million dollars .
Revenue by Region
Lyft operates in 644 US cities and 12 Canadian cities as of the most recent year statistically recorded, 2021.
It’s hard to say which region rakes in the most revenue, but I’d imagine the biggest earning areas are the biggest, busiest cities.
Some examples of the biggest busiest US cities include New York, Los Angeles, and San Francisco – the home of Lyft.
To dive even deeper into this company’s success and robust revenue, we can talk briefly about its position in the United States and the Global ridesharing market.
Lyft is getting a nice chunk of the total US rideshare market.
According to Second Measure, Lyft’s portion of the rideshare market is about 30%.
This has remained pretty constant since 2016.
While this company has a nice portion of the US rideshare market, it doesn’t really have a place in the global rideshare market.
That’s because the platform only operates in the US and Canada.
It’s not likely that this is where Lyft intends to stop in its business venture, so look for Lyft in the global market in the future!
Lyft Driver Stats
So, let’s take a look at some stats on the roughly 2 million drivers who use Lyft to find riders and delivery jobs.
*Fun fact: it’s not uncommon to find that your Lyft driver may also have been your Uber driver.
You can drive for both Uber and Lyft at the same time, so there is oftentimes overlap in the drivers between the two services.
Demographics
In a nutshell, most Lyft drivers are of a minority, male, and over 40 years of age.
Here are some more details on driver demographics:
- 27% are women.
- 40% have a Bachelor’s Degree.
- 60% are from minority groups.
- 28.44% are between the ages of 50-59 (the largest age bracket for Lyft drivers).
These numbers are backed up by our 2018 and 2020 driver surveys.
Number of Drivers Per Major City
There were 1 million active Lyft drivers in 2020, according to John Zimmer.
While there is no specific data on the number of drivers per city, we do know that this number is divided between major cities as Lyft is not readily available in rural areas.
Unfortunately for statistics, It’s more likely for a Lyft accident and other safety incidents to occur in a city than in a more rural area.
Accidents and Safety Incidents
Like any vehicle on the road, Lyft drivers and riders face the possibility of getting into an accident.
However, it is less likely for a Lyft accident to occur than a regular car accident.
This is because Lyft drivers are more likely to follow traffic laws since they want to avoid getting a bad safety report.
Some say traffic fatalities have risen since the implementation of rideshare services.
The increase in motor vehicle accidents and fatal accidents may be due to the increase of rideshare vehicles on the road.
Lyft Employee Stats
Following is some other info to consider if you are thinking of becoming a Lyft driver.
Lyft Driver Risks
Someone who drives for Lyft is an independent contractor rideshare driver.
Essentially, drivers are individuals who are giving rides to strangers.
Some risks of giving strangers rides include the possibility of picking up a hostile rider.
Drivers, if not careful, may pick up someone who puts them at risk of sexual assault or other forms of abuse.
It’s also important to note that Lyft has a strict policy against sexual harassment and sexual assault.
Violators will be terminated from their relationship with Lyft and may face serious charges in court.
Average Salary
The average salary of Lyft drivers, like all other drivers, is at risk due to recent surges in gas prices.
Normally, a full-time driver’s annual salary is an average of $49,000.
However, the increase in gas prices may directly affect this number in the coming months as rideshare companies decide how to offset the hike in the cost of adding vehicle miles.
Tips for Lyft Users
Just as drivers are essentially picking up strangers, riders are also getting rides by strangers when they use Lyft.
Here is some more info and tips for you – whether you’re a new rider or an active rider.
Lyft App
Active users rely on the Lyft app.
This is a ride-hailing app that connects riders to drivers.
The Lyft platform makes it super easy to use.
A rider will simply request a ride from destination A to destination B and wait in the queue, or Lyft line, for a local driver.
Ride Hailing Service
Lyft is a safer ridesharing service than hitchhiking!
But, if you’re not comfortable taking a ride with a stranger, consider borrowing a bike from Lyft’s Citi Bike – another great service offered by this ride-hailing company.
Safety
When taking a Lyft, be sure to pay attention to any feelings that make you believe you may be in danger of assault.
Also, as a passenger, you should never give the driver any of your personal information.
Drivers are held accountable for their passengers because their job duties are documented through the Lyft platform.
Just be smart, but using Lyft is a relatively safe transportation option.
Wrapping Up
Lyft has been a successful company that has even made it through to the other side of the pandemic.
These services, like many others, may soon increase in cost.
When pockets get tight, at least you can make use of the more affordable Citi Bike to save some money as a Lyft rider!
April 2023, Lyft got a new CEO who cut the driver’s pay in half… Working 50+ hours overtime can make up to $500/wk…
The new CEO is either a completely toxic idiot or he is intentionally trying to take Lyft out… Either way stockholders should know that he is singlehandedly taking Lyft off the market, most driver’s have to have someone else pay their bills or stop driving for Lyft beyond using it to acquire new customers for their personal driving services…. Not possible to make $30k/yr let alone $49k as of the pay cut and rising costs….