Update with tweets from Uber CEO Travis Kalanik, at the bottom of this story. These include white papers, government data, original reporting, and interviews with industry experts. This video will break down the difference between Lyft and Uber, and I’ll also let you know which service I prefer driving for and why. UberWAV provides rides in a wheelchair- and scooter-accessible vehicles by drivers trained in assisting passengers. I'm not deliberately misinterpreting you. Lyft recently changed their bonus structure so that it’s almost identical to Uber. So, they are virtually the same. After requesting a ride, the Uber app shows all nearby drivers, their photos, automobile specifications, and the license number of the car. For ease and flexibility and for being able to control what rides you take, you got to give this one to Lyft. Original Lyft provides rides in regular vehicles for up to four passengers. "Uber Ride Options." While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn't be valued the same way. Lyft. Uber and Lyft both offer innovative alternatives to taxis and long-established private transportation services. Green is currently chief executive, and Zimmer is the company's president. Uber has minimum vehicle requirements for drivers in each city. The company was valued at $15 billion in 2018, when it raised $600 million in a Series I financing round led by Fidelity Management & Research Company. UberPet provides affordable rides for you and your pet. Uber vs. Lyft Coverage Areas. Accessed Dec. 3, 2020. The requirements for becoming a Lyft driver are similar to Uber’s requirements. In some cities, the app can show the exact price of the door-to-door service. You should support your local cab companies and stop letting the rich get richer! Uber and Lyft — businesses that adopted a version of FedEx’s original independent contractor-field model — are now facing the same types of legal challenges the mail delivery giant battled a … Now, the current payouts are about 75%. Uber and Lyft are owned by billionaires and they could care less about you! Besides being on the leading edge of bringing robotic vehicles to market, Waymo also is backed by more money than Uber and Lyft have combined. After delays, the company filed final documents to be listed on the New York Stock Exchange (NYSE) using the ticker symbol UBER. Lyft passengers also tip better. Lyft, Uber, Pinterest and Airbnb are often referred to as the 'LUPA' or 'PAUL' stocks, as they prepare to enter the public markets. After Kalanick's resignation as CEO in 2017, Dara Khosrowshahi took his place. Accessed Dec. 3, 2020. This gives you a lot more flexibility to determine if this is the ride you want to take or not. UberSelect provides stylish, high-end cars with top-rated drivers for up to four people for special occasions. Lyft's AV team is headed … Also, prime-time service will increase the base price. Kalanick remains on the firm's board of directors., Uber is a much larger company than Lyft and has received negative press for everything from sexual harassment lawsuits to its use of software to track Lyft drivers. Accessed Dec. 3, 2020. Accessed Dec. 3, 2020. UberComfort provides newer cars with additional leg room. Accessed Dec. 3, 2020. So, when you approach your passenger, you can click that you’ve arrived and then see exactly where you’re going. Because each company's drivers are independent contractors with varying vehicle types and personalities, even if you consistently use the same service in the same city, each trip will be different. The apps themselves help drivers and riders identify each other as well, providing license plate numbers and descriptions of the cars. Lyft wants to be a consumer transportation company; Uber wants to be more like Amazon. It used be that Uber had a very flexible bonus and Lyft had peak hours and you had to keep your acceptance rate above 90%. © 2021 MaximumRidesharingProfits.comPowered by, Track your mileage and save on taxes with the Stride Tax app, Our Online Course: Enroll now and Maximize Your Ridesharing profits, 10 Secrets to Driving For DoorDash & Postmates, This Week: Mom Leaves Child Alone With Driver, New DoorDash Fees, and More, This Week: CDC Confirms Rideshare & Food Couriers Are Essential, This Week: Uber Asks CDC to Prioritize Drivers For The Vaccine, Rideshare News: Lyft Shares Thanksgiving Promo Despite Pending Lockdown, The ERC for Drivers: How to Claim Up to $5,000 (Employee Retention Credit). According to Ridester.com, as of December 2018, Uber has 3.9 million registered and approved drivers globally. Uber drivers are a combination of professional drivers and non-professionals who have passed driving record checks and background checks. They submit photos for a badge ID and the notification app. The second big difference is tipping. Both give passengers a convenient and innovative way to request and pay for rides through their smartphones. The Lyft app for smartphones and the dashboard Amp sign notify passengers of the driver's arrival and give the passenger an estimated cost in advance. "Lyft Ride Modes Overview." UberBlack SUV provides luxury rides by professional drivers for up to five passengers. The third big similarity and where they’re starting to come together is in their corporate image. Since Lyft started, you’ve always been able to tip, the passenger has always been able to tip. Uber uses a light-up Beacon, similar to Lyft’s Amp, to help passengers identify their ride. In the U.S. they instituted a program of driver rewards based on the number of lifetime trips drivers make. On the bonuses, they’re virtually the same. But, when it comes to the driver experience, better tips, the arrival button and the destination filters, having six instead of just two, I got to give the nod to Lyft. Any passenger changes to a ride, once it is underway, will affect the total price. The legality of ridesharing … When it’s all said and done, yes, Uber and Lyft are becoming much more the similar type of company. Predatory lending imposes unfair, deceptive, or abusive loan terms on a borrower. Drivers planned to log off Uber, Lyft, Juno and Via during morning rush hour — between 7 a.m. and 9 a.m. local time in cities across the country, including in New York, San Francisco and Chicago. "Here's How Much the Average Ride Costs on Uber and Lyft." Accessed Dec. 3, 2020. Uber had a CEO who was very abrasive. They’re melding into the same kind of entity. Accessed Dec. 3, 2020. The same applies to uber and Lyft. Sometimes it's safer or more convenient to leave the driving and traffic headaches to someone else. The app also allows customers to estimate their fares in advance and determine driver arrival and location. He was berating a driver on YouTube video and now they’ve got a new CEO, Dara Khosrowshahi and he’s really seems to be turning things around in terms of the image of the Uber. Lyft is clearly the smaller of the two companies, operating in 65 cities in the United States only, while Uber covers 250 cities worldwide. "FBI Could Probe Uber Over Program Targeting Lyft, Wall Street Journal Report Says." Reuters. Uber’s roots are in the black-car business, while Lyft’s predecessor, Zimride, was a carpooling app. Stick around, at the end of the video I’m going to point out the biggest difference and I’m going to recommend one of these companies is still the best one to drive for, if you have a choice. With Lyft, I get a total of six destination filters and I use them all day long. Lyft, Inc. develops, markets, and operates a mobile app, offering vehicles for hire, motorized scooters, a bicycle-sharing system, and food delivery. Lyft Inc. (LYFT) was launched as a service in 2012. Uber and Lyft have long maintained that they are a not taxi companies, but tech platforms matching buyers and sellers of taxi services. Last month, Uber (and Lyft and others) fought against letting these same drivers be considered as actual employees through California's Proposition … The Lyft app gives the passenger an estimated total cost for a ride at booking. Drivers also display placards with the Uber logo in their front and back windshields. In December 2017, the company announced the service was profitable in 40 out of 165 cities in which it operated. Waymo is owned by Google 's parent company, Alphabet Inc., which is sitting on $113 billion in cash. Let’s look at still what are some significant differences. Uber filed paperwork on Thursday for what is expected to be the biggest public offering of the year. Even if you choose UberX, the lowest-cost option, you will not get picked up in a clunker. They’re both becoming a friendlier and softer and gentler. The first thing that’s similar is the rate, the primetime, the surge levels and the payout. Look here, you can see how on the left, Uber, their surge is at 2.5, that means it’s one and half increase and Lyft, their primetime is at 150%, also one and a half. They had their 180 days of improvements for the driver experience. Lyft Black XL provides rides in premium black SUV service for up to four people. AB2267 modified them and Prop. If you did, go ahead and give it a like and if you haven’t subscribed to the YouTube channel for the Rideshare Guy, by all means, subscribe. Lyft has gotten into the food delivery game; its major fast-food partner is Taco Bell. Lyft has so far managed to avoid many of the controversies faced by fellow ride service Uber. Lyft XL provides rides in regular vehicles for up to six passengers. But, when it comes to the driver experience, better tips, the arrival button and the destination filters, having … California Prop 22 Approved; App Drivers Now Independent Contractors, drivers and customers expressed disapproval, Form S-1 Registration Statement Uber Technologies, Inc, Lyft Claims It Now Has More Than One-Third of the US Ride-Sharing Market, Lyft to Woo Investors With Fast U.S. Growth in IPO Race With Uber, Here's How Much the Average Ride Costs on Uber and Lyft, Lyft Drivers Call For Investigation Into Alleged 'Wage Theft', Details of Uber Harassment Settlement Released, FBI Could Probe Uber Over Program Targeting Lyft, Wall Street Journal Report Says, Uber Releases Its Long-Awaited IPO Filing, Form S-1 Registration Statement, Uber Technologies Inc, How Many Uber Drivers Are There? This Monday, started an event called Salesforces. A headline announcing more than 100 sexual assaults by Uber drivers is enough to give anyone pause. 22 exempted app-based drivers and companies. Each vehicle class has a minimum fare so that it is worth a driver’s time to pick customers up, even for very short rides. Lyft vs. Uber: An Overview Sometimes it's safer or more convenient to leave the driving and traffic headaches to someone else. Mounted in the front, passenger side windshield, the Beacon allows passengers to spot their ride from a distance easily. Lyft has always been the softer, the gentler, the pinker of the two companies. UberBlack provides rides with professional drivers in black town cars for up to four people. Automobiles must have four doors with a minimum of five seatbelts. We also reference original research from other reputable publishers where appropriate. However, in 2017, a New York labor group accused Lyft of wage theft. Fees have a base charge for each ride and additional calculations for total miles traveled and the minutes of travel time. Further, the car cannot be commercially branded and must have passed a vehicle inspection in the location of operation. "Details of Uber Harassment Settlement Released." UberX is the basic sedan service for everyday rides for up to four people. They set specific requirements on the vehicles used by drivers and have several different categories or levels of service. The gas guzzler tax is a U.S. excise tax imposed on the manufacturers or importers of passenger cars that do not meet fuel economy standards. "Lyft to Woo Investors With Fast U.S. Growth in IPO Race With Uber." Ridester. Uber Technologies, Inc., commonly known as Uber, is an American company that offers vehicles for hire, food delivery (), package delivery, couriers, freight transportation, and, through a partnership with Lime, electric bicycle and motorized scooter rental. It was spawned from Zimride, a company founded by Logan Green and John Zimmer. Uber, Lyft, and co. will get you to a city or an airport, though, which would be significantly more difficult without. But, that’s not the case anymore. "Form S-1 Registration Statement, Uber Technologies Inc." Accessed Dec. 3, 2020. We saw this when Uber, and then Lyft, instituted driver pay cuts. It’s called Dream Force, a huge convention. Reuters estimates that market share figure to be closer to 40%, as of February 2019. Lyft might have gained market share from Uber as a result of several controversies, many of which took place in the months leading up to the IPO announcement. Uber's smaller rival said in a filing that it expected to raise $2 billion in its IPO and would offer 30.8 million shares at $62-$68 per share. Now, you can drive whenever you want. CNBC. You’ll be on top of all the current news and everything that’s going on in the rideshare industry. In some cities, Uber does not provide up-front fare estimates but rather calculates the total charge after the ride. There’s no specification as to the acceptance rate. Uber serves not only in the United States and Canada but also provides service in many cities worldwide, including those in the European Union, Central and South America, Africa, Asia, Australia, and New Zealand. The company is based in San Francisco, California and operates in 644 cities in the United States and 12 cities in Canada. Form S-1 Registration Statement Uber Technologies, Inc. Accessed Dec. 6, 2020. Lyft operates in the United States and Canada. There isn’t the big gap that there used to be. "How to Tip Your Driver." For most people, an Uber is a Lyft and a Lyft is an Uber. Similarity number two is now, the bonuses. U.S. Securities and Exchange Commission. They’re melding into the same kind of entity. Lyft is a much smaller company than Uber, ... and its partnerships haven't yet yielded the same results. Maximum Ridesharing Profits has my top tips for earning more money. With a 30% market share, Lyft is the second-largest ridesharing company in the United States after Uber. Uber launched Uber Eats in 2014 to compete with other services, like GrubHub and Postmates. Ronald Sugar was named chairman in August 2018. With Uber, they weren’t allowing tipping for the longest time and now, of course, passengers can tip with Uber but in my experience, those passengers don’t tip very much whereas with Lyft, I get lots and lots and lots of tips. According to CNBC, the offering was expected to be one of the largest of 2019. The amounts are a little bit different but same to same. CNBC. California's AB5 set rules for gig workers and firms hiring them. They are destroying the hard working cab drivers who do this to support their families. I assert that Uber and Lyft are virtually identical. In the U.S. the service lists over 300 cities, from Las Vegas, Chicago, and New York to Fargo, Pensacola, and Kalamazoo. Even though Uber started with a large majority in the United States, Lyft is catching up and gaining ground on their competitor. Uber is the larger company, with a market cap over $60 billion during the 2020 holiday season versus Lyft’s $8 billion valuation. The same is true for Lyft. "Uber Revenue and Usage Statistics (2020)." The automobile must be in good condition with no cosmetic damage and it must have working air conditioning. January 5, 2016 by Harry Campbell Even though Lyft and Uber essentially do the same thing, passengers and drivers will tell you there are some pretty big differences. Uber also sets vehicle requirements and lists several different categories of service. Are Uber and Lyft becoming the same company? And Uber was on an upward trend for much of 2020, gaining about 5 percent while Lyft deflated by a third. We Dive In to Find Out. The company priced its shares at $72, and they traded up before falling back and closing at just over $78. For example, in Los Angeles, vehicles must be no more than 15 years old and have four doors. Maximum Ridesharing Profits is The Rideshare Guy's online video course. Its founders serve as Uber directors but no longer actively manage the company, and are no longer in a position of control. The multinational ride-hailing company was valued at $120 billion by Wall Street banks and reported $11.27 billion in 2018 revenue., Uber may have also lost market share in the early months of the leadership of CEO Dara Khosrowshahi, who assumed the top spot at the company following the departure of co-founder and former CEO Travis Kalanick in June 2017. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Waiting passengers get notification of the Amp color in the Lyft app, which is especially helpful when getting a ride after dark or when leaving a venue where everyone is using a rideshare app to get home. Uber was on the rideshare scene first, hence they had a solid foothold of the industry before Lyft showed up. Uber and Lyft certainly seem to be coalescing into the same entity. "How Many Uber Drivers Are There? Perhaps this is partially due to the company's smaller size and limited operation sphere. The third and biggest difference is the destination filters. "Lyft Claims It Now Has More Than One-Third of the US Ride-Sharing Market." That got me thinking, how are the companies similar and how are they different? This is the thought that eventually grew into Uber Technologies Inc. and Lyft Inc., the two quintessential transportation-service companies. In the short term, though, ride sharing probably won't displace the vast majority of privately-owned cars. Uber’s fares consist of a base fare plus a time and distance rate, and fares vary by vehicle type and by the city of service. Surge pricing during times of peak demand will increase the fare. Click here to enroll. The Amp is a small module that sits on the driver’s dashboard and lights up in a particular color. Accessed Dec. 3, 2020. Business of Apps. On the very basics, they are almost exactly the same company. The age and condition of the vehicle, among other requirements, vary by state. Nothing about recent Uber news has changed my thinking. Uber. Then again, we saw this when first Uber, and then Lyft, changed how Surge (Uber) and Prime Time (Lyft) were calculated to pay less to drivers. Lyft Black is a premium black car service including luxury vehicles. "The History of Uber." For me, a huge difference between Uber and Lyft is that Lyft has the arrive button. Like Uber, Lyft is a ridesharing app that allows drivers to use their personal vehicles to pick up and drop off passengers. Recently, CNN shared data from Lyft that showed Uber had ordered and canceled over 5,500 Lyft … UberPool allows customers with different starting and ending points who are traveling in the same direction to share rides in sedans and share the cost. In San Francisco, the rates are virtually identical and whenever there’s a primetime spike with Lyft, there’s a surge spike with Uber. These two taxi alternative services may seem interchangeable, but there are differences between the two largest transportation network services in the United States. Lyft originally identified its vehicles with furry pink mustaches on the front—called carstashes—but it now uses a more subtle system called the Amp. However, this is irrelevant if you cannot trust the driver you are riding with not to attack you. Here’s a good example of how they’re very similar. The Uber app helps passengers and drivers find one another and estimates the cost of the ride in advance. Workers have claimed low wages and poor workplace culture, but Uber is working toward improving situations. You can even get paid out in three different sections, throughout the week, just the way you can with Uber. The Washington Post. Lyft offers several service classes, which vary by city. Anytime one company makes a change, the other company generally follows suit. I’d say on a weekly basis, when I drive 50 hours a week, it’s like a $100 difference in the amount of tips that I can get driving for Lyft versus driving for Uber. Uber’s roots are in the black-car business, while Lyft’s predecessor, Zimride, was a carpooling app. I think we're just coming at this from radically different backgrounds and we're not talking about the same use cases. Hope you really enjoyed the video. Drivers keep 100% of their tips. Also, Lyft passengers can split the cost of a ride with fellow passengers through the app, as long as they do so during the ride and not after. UberSUV provides luxury SUV service for groups up to six people. You must be at least 21, possess a driver’s license, pass a background check, … As reported by National Public Radio, Uber settled a class-action suit brought forward by former and current employees of color and female workers. "Uber Releases Its Long-Awaited IPO Filing." United States Securities and Exchange Commission. However, for the drivers, there are still significant differences in our opportunities to earn revenue. Accessed Dec. 3, 2020. The UberSUV option is the most expensive of the offerings; UberX charges the least expensive fares. Uber serves hundreds of cities in dozens of countries, including the U.S. and Canada, as well as other cities around the globe in Central and South America, Africa, Asia, Australia, New Zealand, and the E.U. Customers pay through the company's smartphone app.Â. Uber is known as a ride-hailing business and so is Lyft. The companies have considerable differences in their service areas, offerings, and culture. If you’re a driver, this is the place you got to be. UberTaxi lets you hail a yellow cab from the Uber app. A story in The Washington Post states drivers claimed the service was cheating them on their fare by deducting money for driver's trips on interstate highways., Uber was founded in 2009 by Travis Kalanick and Garrett Camp as UberCab. We Dive In to Find Out." Lyft is a much smaller company than Uber, but the ride-sharing company is pushing just as hard as its rival in AV development. Money.com. Destination filters have really made a big difference for me especially when I’m driving on the weekends because I can program these long rides from one end of the bay to the other and that really gets my dollar earning per hour way, way up. As of October 2020, Uber Eats was available in close to 500 cities worldwide. 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