Lyft grew faster than Uber in the fourth quarter

07-lyft-android-2018

07-lyft-android-2018

But the big-picture reality is that despite Uber's head start, its early dominance, ability to raise massive amounts of financing, aggressive (often allegedly illegal) growth tactics, faster move into self-driving cars and everything else in its favor, it has not been able to destroy Lyft.

Lyft, the main US ride-sharing rival to Uber, says today that it passed $1 billion in revenue in 2017.

Recode reports that Lyft saw a 168 percent increase in GAAP (generally accepted accounting principles) revenue growth in the fourth quarter of 2017 compared to the same quarter in 2016, bringing it above the $1 billion mark for the entire year. In the fourth quarter, Lyft recorded year-over-year growth of 168%, almost three times as fast as Uber, which reported a 61% increase in revenue.

Uber is believed to have booked $7.5 billion in revenue a year ago, making it Goliath to Lyft's David, but likewise Uber doesn't list its USA revenue figures separately and it also includes subsidiary services such as UberEATS in its total revenue numbers as well.

Uber has dealt with multiple controversies in the past year. Uber also faced a lawsuit from Alphabet's self-driving auto unit, Waymo, alleging that Uber used stolen trade secrets to develop its own driverless technology. The company fired more than 20 people in connection with a sexual harassment probe, and founder Travis Kalanick resigned as CEO in June. The two sides settled the case in February.