Lyft

Uber and Lyft, the two largest ride-sharing companies competing to be the leader in the global markets, just released their Q4/2019 earnings and guidance for 2020. In 2019, Uber had quarterly net loss of US$1.1B and annual loss of US$8.5B; Lyft had quarterly net loss of US$356M and annual loss of US$2.6B. Both plan to be EBITDA positive by the end of 2020. [more]

Unprofitable companies are IPO’ing and raising cash at a rate not seen with the late 1990’s, before Tech Bubble burst. [more]

Industry expected to reach US$553 million by 2025. Ontario starts a 5-year pilot project as Calgary reviews its completed pilot, while in New York, a bill to legalize e-scooters is vetoed by the governor due to safety concerns. [more]

Uber and Lift have commented that their drivers will remain contractors when the new law takes effect and this is likely lead to lawsuits. [more]

Of five big IPOs this year (Fiverr, Lyft, Pinterest, Slack, and Uber), only Lyft and Fiverr had great opening days, but Pinterest is the only company of the five that is currently trading higher than its IPO. [more]

Bill would reclassify some contractors as employees targeting companies such as Uber & Lyft [more]

E-scooter companies Neutron Holdings, Inc, which operates under the name Lime, and Bird Rides, Inc., were each valued at over US$2 billion during their latest financing rounds. [more]

On August 8, 2019, Uber reported Q2/2019 earnings and on August 7, 2019, Lyft reported Q2/2019 earnings. [more]