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Lyft SWOT & PESTLE Analysis

ID : 52740453| Sep 2020| 10 pages

COMPANY PROFILE -Lyft

Business Sector :Ride-hailing

Operating Geography :United States, Canada, North America

About Lyft :

Lyft, Inc. operates as an American rideshare company headquartered in San Francisco, California. The company exclusively develops and markets through the Lyft mobile app and offers a range of services such as car rides, scooters, a bicycle-sharing system, and food delivery services. Lyft has an international workforce of 5683 employees as of 2020. Founded in 2007 by Logan Green and John Zimmer, Lyft has maintained its growth through a plethora of investments from venerable companies as General Motors. The company was formerly known as Zimride, and converted its name to Lyft in 2013. Lyft is considered to be the preferred company by drivers and passengers for its customer-friendly experience and its dedication towards inducing positive change in the US. The backbone of the company, that is, ridesharing leaves a positive impact on the environment as it decreases mobility, curbing air pollution simultaneously. With its innovative features such as Lyft Line which matches riders with passengers heading in the same direction and Lyft for Work that allows employees to give workers Lyft credits for carpooling programs, Lyft encourages reduction in emissions. In 2019, Lyft won the award for Best CEO 2019 and Best Company Work-Life Balance.

Lyft’s unique selling proposition lies in being one of the fastest growing rideshare companies in the U.S and the second largest ridesharing company in the United States with a 28% market share after Uber. Its mission statement reads, “Improving people’s lives with the world’s best experience.” Lyft’s mission is to “Improve people’s lives with the world’s best transportation.”

Lyft Revenue :


USD 3,615 million – FY ended 31st December 2019 (y-o-y increase of 67.7%)
USD 2,156 million – FY ended 31st December 2018

Competitive Analysis of Lyft

SWOT
PESTLE
The SWOT analysis for Lyft is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Wide transportation network with a variety of mobility options
2. Robust technology infrastructure and operations
3. Strong and dynamic benefits offered to the involved stakeholders
4. Strong rider growth and increased monetization
1. History of net losses from a multi-year perspective
OpportunitiesThreats
1. Strong market growth projected in ride sharing space
2. Strengthening network by technological investments and strategic partnerships
3. Expansion of transportation offerings to increase value
4. Successful introduction and implementation of Automated Vehicles (AVs) to increase rise sharing
1. Intense competition in the Transportation-as-a-Service (TaaS) market
2. Business loss due to impact of pandemic
3. Drivers for TNCs to be considered as employees as per California regulation
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Lyft

Strength

1. Wide transportation network with a variety of mobility options: Lyft strives to offer to its riders seamless, personalized and on-demand access to a variety of mobility options using its wide and diverse transportation network. As for the quarter ended 31st December 2019, the company has a base of 22.9 million active riders, establishing Lyft as one of the largest transportation networks in the US and Canada. The network is comprised of the ridesharing marketplace, bikes and scooters, public transit, autonomous vehicles and Lyft rentals. Along with understanding the importance of the network scale, Lyft attempts to recognize the local transportation. Operating in more than 300 markets across the US and Canada with unique user networks, the company strives to fulfil real-time and specific attributes of each market by adjusting the dynamic network platform.

2. Robust technology infrastructure and operations: Lyft has robust technology infrastructure and operations including a number of product teams organized with a full-stack development model, integrating product management, engineering, analytics, data science and design. It strives to provide mobile-first and platform agnostic offerings on a scalable technology platform, with extensive focus on reliability, efficiency, affordability, cohesion and optimization while designing the software. Moreover, the company has entered into a commercial agreement with AWS for hosting the platform on cloud. This particular agreement provides Lyft with higher resilience to uncertainties like demand surges and product changes. As a result, the platform is designed with multiple layers of redundancy for data protection and availability.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threats

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Major Competitors :

  • Didi Chuxing
  • Uber
  • GO-JEK
  • Hertz
  • Avis Budget Group
  • Gett
  • Via
  • Grab
  • Baidu
  • Argo AI
  • Curb
  • Easy Taxi
  • Zoox
  • Ola
  • Careem
  • 99 Taxis
  • DoorDash
  • GrubHub
  • DHL
  • Lime
  • Bird

Major Brands :

  • Lyft
SWOT & PESTLE (combined)
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Lyft Analysis Report

1. A Year of Carbon Neutral Lyft Rides - https://www.lyft.com/blog/posts/a-year-of-carbon-neutral-lyft-rides
2. Annual Report 2019 - https://investor.lyft.com/static-files/9da68816-849a-4720-bdc8-140de503ef95
3. The Battle Between Uber And Lyft Has Become Political - https://www.cnbc.com/2017/01/30/the-battle-between-uber-and-lyft-has-become-political.html
4. Lyft Gains on Uber by Appealing to Progressive Political Ideals - https://www.kqed.org/news/11643681/lyft-gains-on-uber-by-appealing-to-progressive-political-ideals
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Lyft SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Lyft SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/lyft/ [Accessed 26 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Lyft SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

Copyright of Lyft SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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