Lyft

(NASDAQ: LYFT · $16.11 ▼ 0.7%) Lyft is a transportation company that runs a ridesharing network and offers rideshare, bikes and scooters through a single app. It was founded in 2012 as one of the first ridesharing communities in the United States, and its stated purpose is to serve and connect. Riders can request trips on demand or schedule them in advance, and availability of bikes, scooters and ride types varies by region. Like other ridesharing platforms, Lyft works as a two-sided marketplace, matching people who need trips with drivers who want to earn.

On the supply side, millions of drivers have chosen to earn on billions of rides, and the company presents driving as a flexible option where drivers set their own schedules, keep all of their tips and can cash out instantly. For riders, a membership called Lyft Pink includes free Priority Pickup upgrades, discounts on Extra Comfort and Lyft XL rides, free cancellations up to three times a month, and preferential pricing on XL, Extra Comfort, Black and Black SUV rides. Subscription programs of this kind are a common way for ride-hailing services to encourage repeat use among frequent riders.

Beyond consumer trips, Lyft Business serves organizations with transportation programs for business travel, corporate commuting, healthcare, events, customer loyalty and courtesy rides, including rides booked for people without a smartphone. Its industry focus also covers automotive dealerships and repair shops, higher education, transit providers seeking last-mile connections, and hospitality businesses looking to reduce shuttle costs. These enterprise uses extend the same driver network to buyers such as employers and healthcare providers, which fits the company's stated aim of transportation for everyone, a goal it also pursues through its Lyft Up access programs.