Ride sharing behemoth Uber recent filed its S-1 as it looks to go public, following rival Lyft which listed in March. In this analysis, we compare Uber and Lyft’s key operating and financial metrics (for 2018).
Uber delivered over 5 billion trips vs. 620 million for Lyft in 2018, driven by its larger customer base and operations spanning 63 countries. In comparison, Lyft only operates in the United States and Canada.Uber’s customers also appear to use the service more frequently, taking over 60 trips per year in 2018 versus just about 38 for Lyft. However, Lyft’s total trips delivered grew at an average rate of over 90% over the last two years, ahead of the 70% growth posted by Uber.
This is likely due to Uber’s expansion into international markets, which has resulted in higher discounts and incentives to drivers.Uber has some other businesses including Uber Freight and New Mobility, which it reports under its Other Bets revenues. We add this to its net ride sharing revenues to arrive at total revenue.While Uber has not priced its IPO, there is speculation that the company could be targeting a $100 billion valuation, implying a revenue multiple of 9x based on 2018 revenues.
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