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☆ Lyft CEO David Risher goes one-on-one with Jim Cramer
▼ + stars: | 2023-11-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLyft CEO David Risher goes one-on-one with Jim CramerLyft CEO David Risher sits down with Jim Cramer to talk consumer trends, the new 'women + connect' mode, Lyft's outlook for the future and more.

Persons: David Risher, Jim Cramer

☆ The president of Lyft shares how she learned to trust her instincts — and the Taylor Swift song she listens to before difficult meetings
▼ + stars: | 2023-11-27 | by ( Josée Rose | ) www.businessinsider.com time to read: +10 min

She has Slacked senior women leaders "The Man" by Taylor Swift as a reminder of "you got this." She was its first general counsel, helped take the company public, and was named president this July. As you learn who the Lyft customer is, what do you want to change and make better for them? I really say, "Have the courage of a mediocre white male." And this was tough to hear, but in some ways heartening, because like I said, with our new customer obsessed orientation, it's actually something that we've already been really, really actively working on.

Persons: Kristen Sverchek, Taylor Swift, —, she's, It's, Sverchek, David, Risher, that's, gee, what's, Lyft, we've, We've, Slack, undergrad, Lindsay Llewellyn, who's, I've, we're Organizations: Service, Business, Berkeley Law Locations: Lyft

☆ Stocks making the biggest moves premarket: Rivian, Warner Bros., Lyft and more
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lyft — Shares gained 2.9% ahead of the rideshare company's earnings set for release postmarket Wednesday. Analysts surveyed by FactSet's StreetAccount expect 15 cents per share in earnings on revenue of $1.14 billion, while Lyft's past guidance forecast revenue to come in between $1.13 billion and $1.15 billion. eBay — Shares tumbled 6.8% after the online marketplace offered weak guidance for revenue in the current quarter and full year. Otherwise, eBay beat analyst estimates for third quarter earnings per share, while revenue for the period matched the consensus LSEG forecast. Robinhood Markets — Shares dropped 9% after Robinhood reported disappointing third-quarter revenue.

Persons: FactSet's StreetAccount, Goldman Sachs, Robinhood, Estee Lauder —, TD Cowen, Alex Harring, Sarah Min, Michelle Fox Theobald Organizations: eBay, Warner Bros, HBO, Food Network, Network, Studios, Networks, Disney, ESPN Locations: China

REUTERS/Mike Blake Acquire Licensing RightsNov 8 (Reuters) - Lyft (LYFT.O) reported third-quarter revenue and profit surpassing estimates on Wednesday, but gross bookings growth was lower than larger rival Uber's (UBER.N) ride-hailing business. "Softening macro conditions will likely impact Lyft more than its larger peer, Uber," said Angelo Zino, senior equity analyst at CFRA Research. Brewer added that an improved mix of airport rides, scheduled rides and priority pickups also helped margin expansion. Lyft forecast current-quarter adjusted core profit, a key profitability metric closely watched by investors, of $50 million-$60 million, higher than expectations of $48.8 million, according to LSEG data. Lyft said it expects fourth-quarter revenue to grow in mid-single-digits sequentially, compared with market expectation of 4.6% growth, according to Reuters calculations.

Persons: Uber, Mike Blake, Gross, Lyft, Angelo Zino, YipitData, Erin Brewer, Brewer, Akash Sriram, Krishna Chandra Organizations: REUTERS, CFRA Research, Reuters, Thomson Locations: California, Los Angeles , California, U.S, Bengaluru

REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 6 (Reuters) - Lyft's (LYFT.O) price cuts may have helped the ride-hailing firm make a small dent in Uber's (UBER.N) U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit. Reuters GraphicsFor Lyft, which under new boss David Risher has signaled a more aggressive pricing strategy, market share wins have been slow. Lyft's share has risen just 200 basis points to 29% since January, when the price war started, YipitData said. "If Uber wants to take more market share quicker from Lyft, it could lower prices. Reuters GraphicsBut Uber's growth has slowed.

Persons: Mike Blake, Lyft, David Risher, YipitData, Uber, Adam Ballantyne, that's, Christopher Vandergrift, Akash Sriram, Shinjini Organizations: San Diego State University, REUTERS, Reuters, Cambiar Investors, Columbia Threadneedle Investments, Thomson Locations: San Diego , California, U.S, Bengaluru

NEW YORK (AP) — Ride-hailing companies Uber and Lyft will pay a combined $328 million to settle wage theft claims in New York, Attorney General Letitia James announced Thursday. James said the settlements resolve investigations into the companies improperly charging drivers sales taxes and other fees when the costs should have been paid by customers. Uber will pay $290 million and Lyft will pay $38 million. The companies have also agreed to provide drivers outside of New York City with paid sick leave and give drivers outside of New York City a minimum wage of $26 per hour. “For years, Uber and Lyft systemically cheated their drivers out of hundreds of millions of dollars in pay and benefits while they worked long hours in challenging conditions," James said in a statement.

Persons: Uber, Lyft, Letitia James, James, Lyft systemically, Tony West, Jeremy Bird, ” Organizations: New York, General’s Locations: New York, New York City

☆ Uber, Lyft to pay $328 million to settle wage-theft allegations in New York state
▼ + stars: | 2023-11-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

Uber and Lyft agreed to pay a combined $328 million to settle allegations the ride-hailing companies unlawfully withheld wages from drivers and failed to provide mandatory paid sick leave in New York state, Attorney General Letitia James' office said Thursday. Uber will pay $290 million and Lyft will pay $38 million. The state AG's office said it's the largest wage-theft settlement it's won. The companies also agreed to ongoing changes in how they pay drivers and offer benefits in the Empire State. The minimum rate would apply from "dispatch to completion of the ride," according to a press release from the AG's office.

Persons: Dara Khosrowshahi, Uber, Lyft, Letitia James, it's, James, Lyft systemically, they'll Organizations: New York Stock Exchange, Empire State, Black, New York City, Drivers, CNBC, YouTube Locations: New York, Empire, New York City

☆ Uber and Lyft will pay $328 million to settle wage-theft probes in New York. Over 100,000 drivers are eligible for a payout.
▼ + stars: | 2023-11-02 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

More than 100,000 current and former NY Uber and Lyft drivers are eligible for payouts in a wage-theft case. Uber will pay $290 million and Lyft will pay $38 million, Attorney General Letitia James said. AdvertisementAdvertisementRide-hailing companies Uber and Lyft will pay a combined $328 million to settle wage-theft claims in New York, Attorney General Letitia James announced Thursday. Uber will pay $290 million and Lyft will pay $38 million. Lyft's chief policy officer, Jeremy Bird, said in a statement, "This is a win for drivers, and one we are proud to have achieved with the New York Attorney General's Office."

Persons: Uber, Letitia James, —, Lyft, James, Lyft systemically, Tony West, Jeremy Bird Organizations: NY, Service, Taxi, Limousine Commission, New York, General's Locations: New York, New York City, York

☆ Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more
▼ + stars: | 2023-10-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts surveyed by FactSet had been expecting. Chewy — The pet food seller added 4% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. Chegg's third-quarter earnings came in at 18 cents per share, excluding items, higher than the 17 cents per share expected by analysts polled by LSEG. BP — Shares of the oil company slid 4% after the company missed analysts' estimates for its third-quarter earnings . XPO — The freight transportation company added 1.7% after announcing stronger-than-expected third-quarter earnings.

Persons: FactSet, Pinterest, Chewy, Morgan Stanley, Lauren Schenk, Caterpillar, LSEG, Tesla, XPO, Jefferies, AutoNation, Rajat Gupta, Wells, Ferguson, MoffettNathanson, Alex Harring, Jesse Pound, Samantha Subin Organizations: Arista Networks, Arista, Revenue, Global, Anheuser, Busch, LSEG, Caterpillar — Investors, JetBlue, BP —, BP, JPMorgan, Bank of America Locations: U.S, Wells Fargo

☆ How much do Uber and Lyft drivers really make? It varies wildly depending on tips, car expenses, and how they calculate profits.
▼ + stars: | 2023-10-24 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

First, the ride-hailing pay calculations used by researchers, drivers, and companies can vary considerably — some don't fully account for the expenses and hours that impact a driver's profits. Second, drivers' pay can fluctuate based on how often they drive, their vehicle's expenses, and how well their customers tip. Aaron Lavender, a 36-year-old full-time Uber and Lyft driver in Colorado, previously told Insider that tips make up 10% to 20% of his income. AdvertisementAdvertisementMinimum wage laws could help clarify drivers' payThe uncertainty of drivers' pay doesn't seem to have stopped Americans from giving ride-hailing gigs a shot. The number of Uber drivers hit a record-high 5 million in 2022, with more than 70% of new drivers citing inflation as a reason they joined the platform, the company reported.

Persons: Uber, —, Lyft, Jeff Hoenig Jeff Hoenig Uber, Gabe Ets, Jeff Hoenig, Smith, Wesley Johnson, Aaron Lavender Aaron Lavender, Dallas Uber, Aaron Lavender, Nathaniel Hudson, Hartman, he's Organizations: Service, Drivers, Demand, Tesla Motors Locations: Oakland , California, South Carolina, Silicon, Mountain View , California, San Francisco, Dallas, Colorado, Portland, New York City, Seattle, California

☆ The Latest News, Headlines, and Business Stories for October 10
▼ + stars: | 2023-10-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business: All the best deals for Amazon's October Prime Day sales. 3 things in businessAmazonAll the best October Prime Day deals. Amazon Prime Big Deals Days (also known as the October Prime Day) kicks off today.

Persons: —, you've, Yasser Qudih, Tom, Khan Yunis, Said Khatib, Janet Yellen, Chip Somodevilla, Yellen, Ray Dalio, David Risher, Kendall Jenner, Naomi Osaka, Charli D'Amelio, Tom Brady, Bob Iger, Nelson Peltz, Brady MacDonald, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Hamas, Getty, Bridgewater Associates, America, Technology, Meta, Disney, ESPN, ABC, National Hockey League, Vegas Golden Knights, Nashville Predators, Tampa Bay Lightning, Chicago Blackhawks, Pittsburgh Penguins, Amazon, PepsiCo, Sky, Delta Sky Club, LAX, LAX Sky Club, Hollywood Locations: Israel, Gaza, AFP, Dadu, Charli, Phoenix, Seattle, New York City, San Diego, London, New York

☆ Lyft to pay $10 mln civil penalty over disclosure failures -SEC
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Prior to its public listing in March 2019, a Lyft board director arranged for the sale of $424 million worth of private shares through a special purpose vehicle affiliated with the director, the SEC said in a statement. Lyft did not disclose this information in its SEC filings for 2019, said the regulators, who did not disclose the director's name. Representatives for Lyft, which did not admit or deny the SEC allegations, did not respond immediately to requests for comment. The SEC said that Lyft was required to report details of the transaction because Lyft, which approved sale of the private sales, was a participant in the deal. The director left Lyft's board at the time of the transaction, regulators said.

Persons: Dado Ruvic, Lyft, Chris Prentice, Doina Chiacu, Katharine Jackson, Alexander Smith Organizations: REUTERS, WASHINGTON, Securities, Exchange Commission, SEC, Lyft, Thomson Locations: U.S, New York, Washington

☆ Lyft riders look at their app about 9 times per ride. Now they'll see ads when they check it.
▼ + stars: | 2023-08-11 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Lyft's app will now feature ads when a user is booking a ride and during the trip. Its main competitor, Uber, launched video ads on several of its apps back in June. "Lifestyle" is based on locations users "like to visit such as sports games, restaurants, gyms, etc," a spokesperson for Lyft told Insider in an email. All riders will see ads on the app, but they have the option to reject sharing "their behavioral and demographic data," the Lyft spokesperson said. Greenberger told the Journal that Lyft also intends on incorporating video ads on its app before year's end.

Persons: Uber, Lyft, Zach Greenberger, Greenberger, they're, Mark Grether Organizations: Lyft Media, Wall Street Journal

REUTERS/Mike Blake/File PhotoAug 9 (Reuters) - Lyft's shares tumbled more than 7% on Wednesday as investors feared the ride-hailing platform's focus on competitive pricing to gain market share would muddy its path to profitability. Lyft (LYFT.O) said on Tuesday it expects an operating profit of $75 million to $85 million for the third quarter. At least seven analysts cut their price targets on Lyft's shares and more than nine downgraded the stock, while two upgraded it. Median target price for the stock is $11, according to Refinitiv data. Lyft's stock suffers as post-pandemic recovery faltersReporting by Akash Sriram in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Uber, Mike Blake, Jake Fuller, Morningstar, Ali Mogharabi, Dara Khosrowshahi, Akash Sriram, Saumyadeb Chakrabarty, Shounak Organizations: Los Angeles International, REUTERS, Reuters Graphics Reuters, Thomson Locations: California, Los Angeles , California, U.S, North America, Bengaluru

The San Francisco-based company's shares rose about 4% in premarket trading, while rival Lyft's shares increased 2%, as Uber also reported a surprise second-quarter profit. However, Uber reported second-quarter revenue of $9.23 billion, missing analysts' estimates of $9.33 billion, according to Refinitiv IBES data, as a weak freight market pinches. Trips across Uber's markets during the quarter grew 22% to 2.3 billion, representing an average of 25 million trips per day. Uber reported a profit of 18 cents per share in the second quarter, while analysts were expecting a loss of 1 cent per share. The company's quarterly net profit of $394 million included a $386 million pre-tax benefit due to unrealized gains stemming from the revaluation of Uber's equity investments.

Persons: Uber, Dara Khosrowshahi, Nelson Chai, Lyft, Khosrowshahi, Gross, Akash Sriram, Peter Henderson, Shounak Organizations: Technologies, Reuters Graphics Reuters, Thomson Locations: San Francisco, United States, U.S, Canada, Bengaluru

☆ Lyft's new CEO reversed its WFH policy. Now he says employees should want to come back to the office 'for the snacks.'
▼ + stars: | 2023-07-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Lyft's CEO says workers who don't want to return to the office should come back — for the snacks. David Risher's mandate is a reversal of the "fully flexible" work policy Lyft instituted in 2022. Lyft's CEO David Risher, however, thinks office snacks should be enough reason enough for employees to head back in. At a company meeting in April, Risher reversed the "fully flexible" work policy Lyft instituted in March 2022. It appears Lyft's office offers snacks like baby carrots and dipping sauce.

Persons: David Risher's, Lyft, David Risher, Risher, didn't, We've, We're, Roberto Machado Noa, Lyft's, Uber Organizations: Morning, New York Times, Street, Uber

☆ Your Lyft ride got cheaper because the company laid off so many employees
▼ + stars: | 2023-07-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Lyft has lowered ride prices after laying off over 1,000 corporate employees this spring. As a result, it has claimed some market share from rival Uber, the Wall Street Journal reported. Both Lyft and Uber have raised ride prices significantly over the last several years. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. As planned, Lyft has lowered prices in the months following the layoffs, the Wall Street Journal reported on Monday.

Persons: Lyft, Uber, David Risher, —, Risher, DCist Organizations: Wall Street Journal, Service, Wall Street, Uber, Forbes, Reuters Locations: Wall, Silicon, Washington

☆ I was laid off from Lyft and it left me shocked but relieved. I used my severance money to rebound quickly — here's how
▼ + stars: | 2023-06-22 | by ( Robin Madell | ) www.businessinsider.com time to read: +5 min

Ziwei Li is a fomer Lyft employee and the founder and CEO of Wei Good Food. I had led the food delivery vertical within Lyft Delivery as strategic partnerships manager, and my role was eliminated when Lyft decided to shut down its delivery business. But while I loved my role and the relationships I'd built, I'd also experienced the monotony of corporate life. Getting laid off from Lyft was the instigator for starting my dream business — but tapping into my background and relationships is how I translated the opportunity into reality. This could include conducting thorough research on requirements, building a network within your desired industry, or starting small-scale operations.

Persons: Li, —, Ziwei Li, It's, Lyft, I'd, I've Organizations: Wei, Service, UCLA Locations: LA, Lyft

☆ Uber's AI potential is making it stand out among its peers. Here's what that could mean for its stock.
▼ + stars: | 2023-05-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

All told, there is a nearly $6 trillion in revenue opportunity from AI across the internet industry, a March report from Morgan Stanley found. "UBER/LYFT/DASH already use ML [machine learning] in their matching algorithms (matching rides/eaters with drivers/couriers)," Morgan Stanley wrote in its report. AI tailwind for Uber Uber has both its ride-sharing service and UberEats food delivery business. According to Morgan Stanley, AI and machine learning will be a tailwind to network efficiency. "The extent to which AI drives substantial improvements in top-line growth could lead to teens upside [for the stock]," Morgan Stanley said.

☆ Uber is trying to sway Chicago's mayor and Illinois Democrats against a bill seeking to make rides safer for customers
▼ + stars: | 2023-05-19 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

An Illinois bill could hold companies like Uber and Lyft liable for harm done to passengers. Uber launched a "pressure campaign" to avoid liability for these incidents, the law group behind the bill said. JB Pritzker, it would eliminate an exemption in Illinois law that has protected ride-hailing companies since 2015. Salvi said Illinois exempted ride-hailing companies from the state's common-carrier civil-liability doctrine in 2015 to "allow them to come to market" and "give them an ability to compete." Moreover, the exemption has protected ride-hailing companies in even more extreme cases.

☆ 'This is a market that wants two players', says Lyft's new CEO David Risher on competition with Uber
▼ + stars: | 2023-05-12 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'This is a market that wants two players', says Lyft's new CEO David Risher on competition with UberLyft's new CEO David Risher joins 'Mad Money' host Jim Cramer to discuss the future of the company, recent changes within Lyft, and more.

☆ You can now request a Lyft as soon as you land at the airport instead of waiting for your bags
▼ + stars: | 2023-05-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Lyft says riders can now pre-order a ride as soon as they land at an airport. The new feature comes as the ride-hailing app is trying to up its game to compete with Uber. For travelers that dread waiting and waiting to get picked up from the airport, Lyft says it has an answer: a new feature that lets travelers request a ride as soon as their flight lands. Other changes the company has made include discontinuing its pooled ride feature, which it pioneered ahead of competitor Uber, according to Bloomberg. The company has also been scrambling to compete Uber, to which it ceded market share during the pandemic after being slow to introduce driver-friendly features and bonuses, the Wall Street Journal reported last month.

☆ Lyft's new CEO David Risher sits down one-on-one with Jim Cramer
▼ + stars: | 2023-05-12 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Lyft's new CEO David Risher sits down one-on-one with Jim CramerLyft's new CEO David Risher joins 'Mad Money' host Jim Cramer to discuss the future of the company, recent changes within Lyft, and more.

☆ 'I don't need to dethrone a king': New Lyft CEO says the company can succeed without annihilating Uber
▼ + stars: | 2023-05-12 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

Lyft CEO David Risher told CNBC's Jim Cramer on Friday he doesn't need to annihilate the competition — namely ride-share behemoth, Uber — to successfully turn around the struggling company. "I don't need to dethrone a king," Risher said, insisting the current market warrants two players because customers and drivers like to have options. "Five years from now, I hope people are no longer asking about Uber and Lyft," Risher continued, "I hope what they're saying is, 'Look what an amazing experience Lyft has created that'll help us get out and live our lives.'" Risher assumed the role of Lyft CEO just under a month ago, taking the reins from one of the company's co-founders, Logan Green. Risher made his name as an Amazon retail executive, joining the company in 1997 as its 37th employee, he told Cramer; he left in 2002.

☆ The former president of Tesla and COO of Lyft just raised a new $40 million fund and wants to fix venture capital's "addiction to fees"
▼ + stars: | 2023-05-08 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

Jon McNeill served as president of Tesla, COO of Lyft, and has started and sold six companies. Over the same period the number of new funds closed has fallen by more than 75%, meaning capital is concentrating in fewer and larger funds. "That's all about addiction to fees," said McNeill, "it's not like they've got twenty times the amount of opportunities to fund, they don't." It's a venture fund, but it also bears resemblance to a private equity fund, an incubator, and a sort of "private Berkshire Hathaway" as McNeill puts it. The fund takes 100% of the company up front, as opposed to the 20% stake a VC fund would typically take.

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