Lyft is quickly catching up to Uber in the US as the ride-hailing companies race to go public
Kim Kyung Hoon/Reuters
- App install data shows Lyft is quickly closing the gap with its competitor Uber in the United States.
- Lyft has about a 35% market share in the country currently and could grow significantly given its focus on the US.
- Both companies have confidentially filed to begin the IPO process, which could happen as soon as next year.
BI Graphics / Andy Kierz
"What stands out to me from this data is that Lyft has closed the gap in monthly new installs tighter than ever in November, with Uber seeing 25 percent more downloads as opposed to 50 percent more in November 2017," Randy Nelson, Sensor Tower's head of mobile insights, said in an email to Business Insider.Uber was well established by the time Lyft began expanding throughout the US. But that secondary entrance could have benefitted Lyft with learning opportunities as well as gaining market share.
Andy Kiersz / BI Graphics
To be sure, there are significant limits to Sensor Tower's data. The data only shows first-time installs for US phones from either the Apple App Store or Google Play Store. It does not include re-downloads, if someone has deleted the app and then re-installed, and it does not include downloads to multiple devices by the same account. Nor does the data account for the growth of Uber Eats."We continue to experience strong growth for a business of our size and global scope," Uber spokesperson Michael Amodeo said. "As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets outside the US."
A Lyft spokesperson declined to comment.
Last week, both Uber and Lyft filed confidential documents with the Securities and Exchange Commission to begin the process of going public. No public documents have been filed yet.
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