For the first time, Lyft is disclosing internal market-share numbers, and they show its momentum isn't letting up after it capitalized on Uber's disastrous 2017.
Lyft says it has 35% of the national ride-sharing market, up from 20% only 18 months ago. That would represent growth of 75%.
Lyft credits more activations of passengers and customers and greater brand awareness. The start-up says its market share is over 40% in 16 U.S. markets and that it enjoys majority share in "multiple" markets, although it wouldn't disclose where.
Officials with Lyft say they see no signs of that momentum slowing down.
As Lyft and Uber battle for market share, they've had to spend big on subsidies to drivers and promotional discounts to riders. It's a race-to-the-bottom strategy that has seen both companies burn through record amounts of cash and struggle to reach profitability.
But both have been trying to rein in spending as they look toward IPOs. Lyft says that in the first quarter of 2018, it reduced its sales and marketing spending by 20% year over year.
Market share numbers vary
Typically, market-share figures for ride-sharing have been taken from third-party credit card data. Research firms Second Measure and Certify are often quoted.
As of March, Second Measure put Lyft's market share at 27% and Uber's at 73%. Certify, which tracks business expense data, found that Lyft had 19% of the enterprise ride-sharing.
