How does Lyft work?

Bill Gates once said that, “we can change the world with innovation”. These were prophetic words as the world is changing world in all possible conceivable ways.

The Business

One such change came in the year 2012 with “Lyft” an on-request transportation organization in the US. It works via the Lyft versatile application. Lyft caters to around 300 urban communities in the US, with 1 million rides every day.

As per an examination directed by Second Measure Research Company[i], Lyft has a number two spot in the US with piece of the pie of 28 percent.

History

Lyft was really propelled as an administration of Zimride, which was established by partners Logan Green and John Zimmer in 2007.While Zimride was an answer for city-to-city and longer excursions, Lyft was propelled to concentrate on in-city ride sharing. Lyft is headquartered in San Francisco.

Booking a Cab

Lyft works through a portable application, methodology is very straightforward and simple.

• Initial step incorporates the riders to download the portable application to their iOS or android mobile phones.
• The second step is the joining/signup procedure for which the riders need to enter a substantial phone number and a legitimate type of instalment – it could be Mastercard, Google wallet, PayPal or Apple Pay.
• Third step includes riders/travellers asking for a ride from a nearby driver. When affirmed, the application demonstrates the drivers name, appraisals by past travellers, and photographs of the driver and the vehicle.

Drivers and travellers can add individual data to their profiles about the place where they grew up, music inclinations, and different subtleties to urge drivers and travellers to speak amid the ride. Fourth and the last advance includes the ‘payments’ which the rider finishes through the instalment mode picked by them amid the joining.

Types of Rides

Lyft offers five sorts of rides inside the application:

1. Shared Ride

It essentially implies imparting a ride to different travellers, on the off chance that they are going same way. It’s a standout amongst the most modest choices accessible on the application.

2. Lyft

It’s a standout amongst the most essential and well-known offering that matches travellers with the nearby drivers.

3. Lyft XL

Matches the travellers with a vehicle that can situate somewhere around six travellers.

4. Lux

Matches travellers with an extravagance vehicle that seats something like 4 travellers.

5. Lux Black

Matches travellers with an extravagance dark outside vehicle ride that seats something like four travellers.

6. Lux Black XL

Matches travellers with a dark outside extravagance vehicle that seats up to 6 travellers. (model: SUVs with exceedingly appraised drivers)

Add-Ons

Apart from offering such shifted choices Lyft likewise has steadfastness program for its riders known as “Lyft Ambassadors.” The brand additionally utilizes the #WhyILyft hashtag and YouTube recordings for driver enrollment.

Lyft is one of the quickest developing organization, as of June 2018 it was esteemed at US$15.1 billion and has raised a sum of US$5.1 billion of financing. Half of the subsidizing has originated from General Motors, the arrangement will enable the two organizations to set up a system of U.S. ownerless vehicle center points, where Lyft drivers can lease GM vehicles.

Lyft has organizations with substances like Didi, China’s biggest rideshare organization, and all the more as of late with Grab Taxi (Singapore) and Ola (India), have helped Lyft extend its worldwide impression to the point that it currently offers service to about a large portion of the total population!

[i]https://www.inc.com/larry-kim/15-surprising-facts-about-$55-billion-rideshare-giant-lyft.html