Uber and Lyft, despite being major players in the tech industry, have been known to burn through a lot of cash due to their strategy of spending on driver subsidies and promotional discounts for riders. This has been particularly true for Uber, which has reportedly spent over $11 billion since its founding. However, Uber announced for the first time in its history that it will be cash-flow positive for the full 2022. While it's common for tech companies to operate at a loss for extended periods, Uber did so for longer than others. The comparison with other tech companies would depend on specific companies in question, but it's safe to say that Uber and Lyft's cash reserve situation is influenced by their market strategy.
This question was asked on the following presentation:
Use our Timeline Template Collection to visualize and track business processes. Timelines keep projects on track, provide context, and set expectation...
Go to dashboard to download stunning resources
Download
Text this question was asked on:
Despite Uber's larger size, Uber only has twice the cash as Lyft. Lyft's market share has doubled since 2015 from 15% to 31%. As both companies battle it out for market share, they've had to spend on driver subsidies and promotional discounts for riders. It's a strategy that has caused both companies to burn through a lot of cash—Uber has reportedly spent over $11 billion since its founding. But this year, for the first time in its history, Uber announced it will be cash-flow positive for the full 2022. While it has become normal to make a loss for extended periods in the tech sector, Uber did so for longer than others.
Ask another question
If you are in the business of project management, an agile approach is the way to go. Use our Kanban presentation to motivate your team for collaboration, optimize project delivery speed and improve responses to fast-paced market trends.
Communicate your vision with your team and develop a clear roadmap to execute upon for a successful product launch. Use our Product Roadmap presentation to boost productivity and cross-functional collaborations, make effective decisions, and beat the time-to-market. Together, you can give the world products that capture customer attention and sell like hotcakes.
How do you inspire salient ideas and collaborate with your team in a brainstorm session? Use our Mind Map collection to visually organize information by themes, hierarchy, and causal relationships, and find the common thread that can lead you to out-of-the-box thinking. Since solutions are rarely surface-level, deeper exploration of each problem is needed. Mind Maps encourages you to keep digging deeper and draw insights from potential solutions.
Why do so many projects get delayed despite best efforts? Achieve your project deliverables and track your progress with our collection of project timelines. Designed to be used by both Project Managers and team members, this deck includes tables and charts of different layouts and time periods.
PowerPoint
Google Slides
Apple Keynote