Lyft, Inc. develops, markets, and operates a mobile app, offering vehicles for hire, motorized scooters, a bicycle-sharing system, and food delivery. The company is based in San Francisco, California, and operates in 644 cities in the United States and 12 cities in Canada. Lyft is a transportation-as-a-service marketplace allowing riders to find a driver for a ride. Lyft has also expanded with a multimodal platform that gives more options like bike-sharing or electric scooters. Lyft primarily makes money by collecting fees from drivers that complete rides on the platform. Lyft generates revenues every time a user gets a ride via its smartphone app. While most of the revenues go to the driver, the company usually generates 20% in net revenues per ride.
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