Lyft has always tried to maintain an image as rideshare's “nice guy” up against the villain, Uber. But in recent months, Uber and its competitors have been trying to make inroads into the taxi business, which is dominated by traditional cab companies like Yellow Cab or TNT. Uber’s habit of steam-rolling into a new city and setting up operations without waiting for the necessary permissions has put it out in front in almost every city in America. Lyft, conversely, tends to wait until permissions are granted before operating in a city, which builds goodwill, but not market share. Reuters reports that this is illustrated by Uber’s $10bn war chest (five times more in venture capital funding than Lyft has raised) and the fact Uber generates more than ten times the annual gross revenue of Lyft.
Lyft has always tried to maintain an image as rideshare's “nice guy” up against the villain, Uber. However, it looks as if playing nice does not always pay off. Uber’s habit of steam-rolling into a new city and setting up operations without waiting for the necessary permissions has put it out in front in almost every city in America. Lyft, conversely, tends to wait until permissions are granted before operating in a city, which builds goodwill, but not market share. Reuters reports that this is illustrated by Uber’s $10bn war chest (five times more in venture capital funding than Lyft has raised) and the fact Uber generates more than ten times the annual gross revenue of Lyft.