Leaked Lyft Document Reveals a Costly Battle With Uber

The startup also describes its rival as having an “anti-social culture”

Behind the friendly pink mustaches and fist bumps, Lyft is spending furiously to maintain second place in the U.S. ride-sharing industry, and steal market share from the distant leader, Uber Technologies. The expensive battle plan helped Lyft claim a fourfold increase in active passengers on 2.2 million rides in December 2014, but growth is beginning to slow, according to a company presentation to investors that was obtained by Bloomberg. Lyft estimates $130 million in revenue for 2014, according to the document.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.