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Exclusive: Lyft Executive Says On Track To Hit $1 Billion In Gross Annual Revenue

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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Zimmer of Lyft speak at TechCrunch Distrupt 2013 in San FranciscoBy Heather Somerville SAN FRANCISCO (Reuters) - Ride-hailing app Lyft, Uber Technologies Inc's [uBER.UL] biggest competition in the United States, expects to reach $1 billion in gross annual revenue, the company's co-founder told Reuters. Hitting a $1 billion run rate suggests over the next year would suggest privately owned Lyft has grown its market share in some critical U.S. cities, despite competition from Uber, the larger and better-financed ride-hailing app. Founded in 2012, Lyft's net revenue in 2014 was estimated at $130 million, according to company financial documents cited by Bloomberg.




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