Lyft Set to Claim Third of U.S. Market in 2017, Document Shows
- Projections see Lyft sales rise, losses of $600 million
- Fidelity, another Uber backer, may join Alphabet in new round
Photographer: Patrick T. Fallon/Bloomberg
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Lyft Inc. has gained significant ground on its rival, Uber Technologies Inc., and is expected to grab more market share in the U.S., according to a private Lyft investor document obtained by Bloomberg.
A major investor is projecting Lyft will have boosted its share of U.S. ride-hailing business some 61 percent by the end of the year, climbing to about a third of the market. The gains come as market-leader Uber’s reputation is in tatters following a string of scandals that culminated with the resignation of its chief executive officer in June.