Startup employees spend three times more on Uber than Lyft
While Lyft is slowly growing its share of work-related rides taken by U.S. startup employees, rival Uber commands about 75% of the total, according to data from Brex, which supplies credit cards to startup companies.
Why it matters: Business riders are an important — and lucrative — category of customers for ride-hailing companies. Workers often need transportation when they travel, to get to and from airports, for business meetings, and can be less price conscious since convenience is a high priority.
By the numbers:
- In July, 32% of total spent came from companies only using Uber, while only 8% came from those only using Lyft. Overall, 73% of total spent on rides went to Uber and 27% to Lyft.
- In July, the median Lyft ride cost $14.51 and the median Uber ride cost $12.56.
What's next: Uber will release its latest quarterly earnings after market close today. Lyft published its own on Wednesday.
Methodology: Brex's data comes from its customers, which are all U.S.-based companies, though some have employees abroad. Median ride price was calculated using rides that cost between $2 and $250.