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A Raise for Lyft Drivers with $200 Million Tips

lyft targetAn extra tip is always a boost to the service which we provide to our customers, which means that they are satisfied with the service. It does take a lot of effort for any service provider to have their customers satisfied. The prominent reason behind a happy and satisfied customer is that the service provider has made them special.

Apart from that particular aspect, we can say that this tip which the person will boost and their productivity will increase. This one aspect has been followed by the drivers of Lyft. They have received an extra tip for the service they have provided to their riders. This tip has been awarded to the drivers through the Lyft app itself; it is a commendable job which they have done.

It is an astounding fact to know the figures which they have collected together just with the extra tip which received from the riders. They have acquired around 200 million dollars and that is a significant figure a huge boost to Lyft as well. The rival Uber do not have an option set for the rider to tip the driver. It is a huge amount of profit on the company’s part and it is glad about the way the drivers have worked for it.

There was a press release made by the company stating that their drivers have always tried to put the best foot forward in provide the best service to the commuters with their service. In fact, the drivers did go out of their way to make sure that the riders had a great ride with the driver. They made the day for the rider and at the end of the day, for any business, a customer is what matters the most to them and in that aspect the company has perfectly nailed it.

Right from the beginning when Lyft started its business with the ride-hailing, it introduced the tipping option in the app. That option will allow the rider to express their gratitude for the wonderful they had with the driver. This revenue which the company has created with just the tips which the drivers have made is definitely a big jolt for Uber.

The latter would not have to expect this kind of a thing to be coming their way. It is evident that the riders who use Lyft are happy with the service which they are receiving. In fact, Uber stated that tipping the drivers is not the current trendsetter and it is an old-fashioned ideology which is being followed. On the flip side, the company stated that the riders can tip the drivers and they can accept the tip as well and this is always been there in their policy, stated one of a spokesperson from Uber.

Apart from that, the spokesperson said that they have received a feedback from the riders stating that the rides which they get through are hassle-free. A pop-up showing that if the ride was comfortable and satisfactory, will allow the rider to tip the driver which is less cumbersome. If there is no option available on the app and if in any case, the rider wants to tip, then it has to be made by cash.

IN THE YEAR 2016, LYFT WAS ABLE TO FETCH AROUND 100 MILLION DOLLARS IN TIPS BY THE MONTH OF JUNE.

It has been just 4 years since they have started their business and we can see that there has been a tremendous amount of growth. This lead is absolutely a huge stepping stone towards the success of Lyft. The impact of being able to receive such a positive response from its riders was really a terrific one.

After that wonderful revenue made by the drivers, in just span of 9 months, they proved it all over again. They made another 100 million dollars with the tipping for the service which the drivers provided. This makes it clear that the drivers are making sure that each and every ride which the rider takes with Lyft is the best one.

The complete statistics of the tips which the drivers have received as in tips is right from the beginning of their business in 2012. Lyft drivers have made 200 million dollars in a span of 4 years by giving the commuters happy and comfortable rides. It is stated that there are around 315,000 drivers who work under the Lyft’s platform.

An option to tip the driver is always made available for the rider if they found the ride to be worth the time. If the rider decides to tip, they can tip the drivers as a thank you note before they make the complete payment for the ride which they have taken. This is a boost for the drivers, as they will be glad knowing the fact that they are giving great rides to the people.

Lyft has bolstered its business and we can see that there is raise in its expansion by around 50 percent. The service is now made available in around 300 cities in the United States. We can expect that this is tipping might continue with the other cities as well if the drivers are able to pull off the same kind of rides for the people. They planned of completing the expansion to 100 cities by the end of 2017, but we can see that the progress has been rapid and by the end of March, the company’s service is available in 100 locations.

The firm started the year with a high note by expanding its business to around 40 cities in the month of January. Later on, in the consecutive month of the year, they went on to expand to another 54 cities in the country. They were really swift enough to bolster to the other parts of the country. Even the company officials would not have expected that their aim to complete a project in 12 months has been completed in a span of just 3 months.

Lyft’s expansion of its business comes in and we can see that reports are coming in that the company is pitching to the investors. They are expecting to be making a pitching for at the minimum of 500 million dollars.

At present, the come is been valued at 5.5 billion dollars whereas its rival Uber has been valued at 68 billion dollars which are significantly huge when compared to that of Lyft’s.

If the investors are investing in Lyft, then the reports state that the company’s value might rise to 6 billion to 7 billion dollars. The company might stand at the second spot when it comes to the ride-hailing industry. But, it is evident that they never back down and keeps on pushing harder and harder to give the best to the people.

The company has always kept its records almost in all the occasions, there are only a few cases where there were speculations made against Lyft. Apart from that, they have always been at the better side in giving the best to the people. Unlike Uber, where it is struggling to get its records cleaned for all the speculations and allegations made against it.

This turnover of 200 million dollars from the tipping to the drivers is a huge success and we can say that the future is going to get better for Lyft and possibilities of making it to the top as well.

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