Ridesharing Growing Leaps & Bounds

Ridesharing offers consumers a convenient transportation option. Although the industry is still in its infancy, the market has quickly become dominated by two major players: Uber and Lyft.

Uber has practically become synonymous with ridesharing. Earlier this year, Uber, which operates in 85 countries, celebrated its 5 billionth ride. To top that off, the company is currently in negotiations to ensure their remarkable growth will continue to soar in the years to come. At the recent Wall Street Journal’s D.Live technology conference in California, Arianna Huffington said that Softbank will very likely finalize a venture deal with Uber in the imminent future. A major investment from this Japanese tech giant should ensure that Uber will continue to reign as the dominant player in the ridesharing market.

However, Uber’s main competitor, Lyft, is experiencing explosive growth as well. Lyft, which only operates in the US, recently delivered its 500 millionth ride. The smaller ridesharing provider increased its US market share this year to 25%, while Uber's market share simultaneously dropped from 80% to 70%. And in the second quarter this year, gross bookings grew 25% at Lyft, compared to just 17% at Uber.

In this time of unprecedented growth, one thing is certain: two major competitors in the ridesharing space spells good news for consumers!

Follow us on social media for the latest updates in B2B!

Image

Latest

data center design
Applied Digital’s Data Center Design for a 100 MW AI Factory Built from the Ground Up
July 2, 2025

AI workloads are redefining the limits of data center design and infrastructure. Legacy data centers, built for traditional co-location, cannot handle the density, thermal demands, or power dynamics of accelerated computing. The AI boom has upended the data center sector, forcing a rapid shift to liquid-cooled racks as facilities pivot from sub-10kW racks to…

Read More
Commerce media
A Look at the Rise of Commerce Media Networks: How Nift Helps Brands Own How Their Message Shows Up
July 2, 2025

As traditional digital advertising struggles to retain consumer trust, brands are exploring new, more authentic ways to connect with shoppers. Platforms like commerce media networks, which weave together commerce, content, and data, are emerging as powerful tools in this shift. Research from MG2 Advisory reveals that only about 37% of consumers feel brands genuinely…

Read More
Hospitality leadership
Heart-First Hospitality Leadership: How Saying ‘Yes’ Transforms Guest Experiences, Boosts Staff Morale, and Drives Business Results
July 2, 2025

As the hospitality industry emerges from years of pandemic-driven upheaval, hospitality leadership is evolving to meet new challenges. Leaders are looking for new ways to retain staff, elevate guest satisfaction, and drive revenue without burning out their teams. One trend gaining traction is the power of “Yes”: empowering employees to say yes more often,…

Read More
civic leadership
Mayor Gerard Hudspeth’s Civic Leadership Journey: What Politics Teaches About People
July 2, 2025

What does a mayor learn about human nature? In this episode of Professional Quotient: Conversations that Build Equity, host Jason Winningham sits down with Gerard Hudspeth, longtime mayor of Denton, Texas, and a respected figure in civic leadership. Drawing from his years in public service, Hudspeth explores how leading a city reveals the core…

Read More