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Kia Kokalitcheva Jan 13, 2017
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Hot in Silicon Valley: The upside for Lyft

Susan Montoya Bryan / AP

Lyft reportedly expects to turn a profit next year

Despite being much smaller than rival Uber, Lyft is reportedly shrinking the gap between its revenue and losses, and expects to be profitable in 2018, according to tech news site The Information.

In 2016, Lyft lost about $600 million and generated $700 million in revenue. The year before, it lost more than twice as much as it brought in: $200.6 million in revenue, and a loss of $412 million.