ride-hailing

Lyft shares rise as firm reports strong Q2 active rider numbers

Lyft rideshare car

Just a few days after rival Uber reported record revenue, causing the stock to pop, Lyft on Thursday also gave investors reason for optimism.

The ride-hailing giant reported earnings for the second quarter after market close, and active riders appear to be on the rebound.

The 19,860,000 active riders the company recorded in Q2 represented a 15.9% increase from Q2 2021, signaling a potential rebound from its pandemic doldrums.

Shares of Lyft (NASDAQ: LYFT) jumped nearly 4% in post market trading on...

https://www.freightwaves.com/news/lyft-shares-rise-as-firm-reports-strong-q2-active-rider-numbers

Lyft reports first-ever full-year adjusted profit

Lyft reports Q4 2021 and FY2021 earnings results

Ride-hailing platform Lyft announced its earnings for Q4 2021 and FY2021 after the bell on Tuesday, turning in its first-ever profitable year in terms of adjusted earnings before interest, taxes, depreciation and amortization. The company reported a figure of $92.9 million after a loss of more than $750,000 in 2020.

A sizable chunk of that profit came during Q4. Adjusted EBITDA for the fourth quarter of 2021 was $74.7 million, up from losses of $150 million in Q4 2020 and topping Lyft’s...

https://www.freightwaves.com/news/lyft-reports-first-ever-full-year-adjusted-profit

European Uber rival Bolt eats up $709 million raise

European food delivery platform Bolt secures huge $704 million raise

Now that Uber has shown that a third-party ride-sharing and food delivery business can, in fact, be profitable, it seems the floodgates are open as money from big-time investors continues to pour into the space.

The latest beneficiary of the craze is Estonia-based rideshare and food delivery startup Bolt, which just ate up a $709 million raise that pushed its valuation to nearly $8.4 billion. The round was co-led by Sequoia Capital, Fidelity Management (NYSE: FIS) and Research Company LLC with...

https://www.freightwaves.com/news/european-uber-rival-bolt-eats-up-709-million-raise

Rideshare rebound: Breaking down Uber’s and Lyft’s big Q3

Uber and Lyft earnings analysis strong quarter of profitability for rideshare companies

In 2019, a pair of financially unproven but promising rideshare companies debuted two of the largest public offerings of the decade, just two weeks apart from each other –– and they let just about everyone down.

At the time, assessments of Uber’s and Lyft’s IPOs ranged from “modest” to outright “bleak” as the rivals failed to live up to the lofty expectations they had set for themselves. People had questions about the companies, and rightfully so. In the calendar year leading up to its IPO, Uber

https://www.freightwaves.com/news/rideshare-rebound-breaking-down-ubers-and-lyfts-big-q3

Lyft turns in 2nd consecutive EBITDA-profitable quarter

Lyft announces Q3 2021 earnings, another profitable quarter

Ride-hailing platform Lyft announced its earnings for Q3 2021 after the bell on Tuesday,  reporting a 73% increase in year-over-year revenue and a 13% gain on last quarter’s revenue, while recording a profitable adjusted earnings before interest, taxes, depreciation and amortization for a second consecutive quarter. Q2 and Q3 2021 are the first adjusted-EBITDA-profitable quarters for Lyft.

Adjusted EBITDA for Q3 2021 exceeded Lyft’s outlook, coming in at $67.3 million, up from losses of $239.7...

https://www.freightwaves.com/news/lyft-turns-in-2nd-consecutive-ebitda-profitable-quarter

What would a vehicle mileage tax mean for ride-share?

What would a vehicle miles travelled (VMT) tax mean for ride-share?

Support it or oppose it, the federal excise tax on gasoline, more commonly referred to as the gas tax, isn’t getting it done. 

The U.S. government hasn’t raised the federal tax rate of 18.4 cents per gallon since 1993, and since 2008, policymakers have been drawing from nontransportation funds like the general fund to pay for transportation infrastructure because the gas tax simply isn’t bringing in enough money. Just last week, the Highway Trust Fund, which supports road construction and mass...

https://www.freightwaves.com/news/what-would-a-vehicle-mileage-tax-mean-for-ride-share

Autonomous tease: Aurora shows image of Toyota Sienna designed for rideshare

Autonomous vehicle company Aurora has shown images of an autonomous Toyota Sienna that it said has been designed specifically for ride-hailing operation.

The company posted a blog detailing the vehicle, which is based on the Toyota (NYSE:TM) Sienna Autono-MaaS (S-AM) mass-produced prototype. The S-AM is Toyota’s hybrid-electric powertrain. Aurora said tests will be conducted over the next six months and that “we’ll mature this initial development fleet in Pittsburgh, Dallas, the Bay Area and...

https://www.freightwaves.com/news/autonomous-tease-aurora-shows-image-of-toyota-sienna-designed-for-rideshare

Didi: Privatization report is ‘not true’

Didi denies Wall Street Journal report it is going private

Chinese ride-hailing giant Didi (NYSE: DIDI) has denied a Wall Street Journal report Thursday morning that said the recently public company was considering a privatization plan to satisfy Chinese regulators.

Citing “people familiar with the matter,” the WSJ said the company was exploring the privatization option as a way to placate Chinese authorities that are investigating the company for antitrust violations and to satisfy investors that have lost money on the stock since the company went...

https://www.freightwaves.com/news/didi-denies-wall-street-journal-report-it-is-considering-going-private

Didi stock crashes after China bans downloads of app

Stock in newly public Didi Global (NYSE: DIDI) came crashing down Tuesday morning following a ban on its app by China amid continuing questions about the company’s business practices.

Didi stock was down more than 25% in premarket trading Tuesday before recovering slightly as the morning went on, although it was still off more than 23% in midmorning trading at $12.07 per share. The Chinese ride-hailing giant went public on Thursday at $14 per share, climbing as high as $18 per share on its...

https://www.freightwaves.com/news/didi-stock-crashes-after-china-bans-downloads-of-app

Breaking: Chinese ride-hailing giant Didi files for US IPO

Didi files for IPO

Chinese ride-hailing giant Didi has filed documents with the U.S. Securities and Exchange Commission for an initial public offering (IPO) on either the Nasdaq or New York Stock Exchange under the symbol DIDI, the company said in a Form F-1.

The form didn’t disclose the number of shares, value of those shares or how much money the company plans to raise through the IPO. Goldman Sachs of Asia, Morgan Stanley, J.P. Morgan and China Renaissance are listed as underwriters.

According to Crunchbase,...

https://www.freightwaves.com/news/breaking-chinese-ride-hailing-giant-didi-files-for-us-ipo

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