Lyft provides a marketplace for riders and drivers matching them via Lyft App. Lyft offers drivers car rentals for ridesharing, while private customers can get access to car rentals for personal use. Lyft focuses on electric vehicles, providing a cleaner option for ridesharing and driving by customers. Lyft services are available in the US and Canada, two premium markets for ridesharing services. The company reported 21.5mn active riders in 2Q23, up 8.3% YoY. The company is going to develop its scooter business and other businesses for users, transforming its platform into a mobility hub for users (Transportation-as-a-Service).
Lyft owns and operates multimodal transportation networks in the United States and Canada. The Lyft Platform provides a marketplace where drivers are matched with riders via the Lyft App. Transportation options through Lyft's platform and mobile-based applications include its ridesharing marketplace; Lyft's network of Light Vehicles; the Express Drive program, where drivers can enter into short-term rental agreements with Flexdrive or a third party for vehicles for ridesharing, and Lyft Rentals, a consumer offering for users who want to rent a car for a fixed period of time for personal use, and Lyft Driver Centers and Lyft Auto Care, where drivers and riders can request auto maintenance and collision repair services offered through the Lyft Platform.
The US and Canada ridesharing market was growing at a double-digit rate over the past five years. The convenience of ridesharing in large towns and countries with a high density of population, changing preferences of the young population, and new services added by ridesharing companies all contributed to market growth. Ridesharing companies started to focus on greener solutions and a variety of services for their active users, including delivery options, scooters, and bikes, transforming the transportation and delivery industry into a more user-friendly Transportation-as-a-Service universe.
|Company||RIC||Market Capitalization, $mn||Last reporting year||P/E Fwd 1Y||P/E Fwd 2Y||EV/EBITDA 1Y fwd||EV/EBITDA 2Y fwd||EV/Revenues 1y fwd||EV/Revenues 2y fwd|
|Uber Technologies Inc||UBER.N||96,536||2022-12-31||129.6||45.5||26.5||17.9||2.7||2.3|
|Avis Budget Group Inc||CAR.OQ||7,723||2022-12-31||5.3||7.6||12.1||16.6||2.5||2.4|