Waze is best known for its navigation app, which crowdsources traffic information, but a few years ago it ventured into a new line of business when it rolled out a carpooling app. Today, the Google-owned company says its U.S. carpool users complete more than 550,000 rides per month, and will reach the 1 million mark by the end of the year.
What they're saying: "We’re not taking on Uber and Lyft," Waze co-founder and CEO Noam Bardin tells Axios. "We're focused on commutes 20 miles and up." Waze drivers also can't earn money beyond the cost of driving (per IRS guidance of $0.58 per mile).