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Lyft is catching up to Uber in revenue

Lyft is catching up to Uber in revenue

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Like the tortoise and the hare, on-demand transportation company Lyft is slowly but steadily gaining ground on its biggest competitor, Uber.

The San Francisco company, known for its glowing pink mustache, is on track to bring in $1 billion in gross revenue by year’s end, according to Lyft President John Zimmer.

Leaked documents from earlier this year projected $2 billion in Uber revenue in 2015.

In January this year, Lyft was available in 60 U.S. cities. Today, it is available in more than 150. Zimmer also said Lyft now has 40 percent market share in Uber and Lyft’s home city of San Francisco.

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