Which giant in the ride sharing industry – Uber or Lyft – will capture the market and see the most potential growth as Uber files it’s IPO?
The global ride sharing industry is primed to be valued at close to 12 billion dollars by the year 2025. That massive number hasn’t meant much to investors until just recently.
Why? Because some of the biggest ride share brands have gone or are going public.
Lyft went public this year and is currently holding a share price of around $50.00.
With Uber going public likely in the next few months, the big question is which brand is more worth your investment?
Below, we break down some quick things to consider to help you decide which ride share service you should back.
Uber
Uber (Uber Technologies Inc.) is a privately held transportation network that allows people to offer and hail peer-to-peer rides. The company was founded in 2009.
While Uber is largely seen as the catalyst of the ride sharing industry, the company has had some ups and downs mostly thanks to management issues that have since been resolved… Mostly.
Below are some pros and cons to the service.
Pro – Uber Has More Customers
It’s hard to argue with this pro. More customers means more money which means a higher valuation when the company goes public.
Pro – Uber Has a Global Foothold
While the race for ride share supremacy might seem neck and nick in the USA between Uber and Lyft, the truth is that the race isn’t that close.
Uber operates in 65 countries. That metric dwarfs Lyft’s global footprint.
Con – Uber Is a managerial wide card
Uber’s founder was famous for putting in place a number of policies that were anti-driver and in some cases, anti-rider. With him pushed out of the picture, will Uber be able to avoid more snags?
Law firms like Brauns Law, PC and other legal teams targeting the ride sharing industry certainly don’t think so as they continue to ramp up their ride share consumer protection services.
Con – Uber Still Has a Way to Go with Its Culture
Uber operates like a multi-billion dollar company when interacting with customers and employees. Lyft acts like a best friend.
We like Lyft here.
Lyft
Lyft is a publicly traded company was founded in 2012. The company has made its name by being ultra-friendly and fun.
Lyft likes to position itself as less of a stuffy business and more of a getting rides from your best friend kind of service.
Here are its pros and cons.
Pro – Lyft Is Personable
Lyft’s personable nature makes riders and drivers feel more comfortable working with the service. That could help spur its growth in the future.
Pro – Lyft Beat Uber to Public
The fact that Lyft went to the stock market well before UBER speaks to its deeper clarity of vision which Uber has struggled with.
Con – Does Lyft Translate Globally?
Lyft’s antics might work in the United States but does its personality have wings globally? We’re not sure.
Con – Lyft Has Fewer Resources to Compete
Research and development are important to getting ahead in the ride share industry. Uber has more money to spend, especially when it goes public.
That could be a problem for Lyft going forward Closing out Our Uber Vs Lyft Ride Sharing Industry Analysis
If you’re trying to pick a ride sharing industry titan to get behind, we’d say that you should throw your backing behind Uber when it hits the open market.
Uber has some small cultural issues that it needs to iron out. Once it does though, its global imprint is going to position it to absolutely crush the market.
Check out additional content on technology, health, and everything in-between on The World Beast now!
