Bloomberg Talks Lyft CEO David Risher Talks Investing in Markets
May 9, 2025
The discussion dives into Lyft's ambitious market expansion and financial strategies, targeting underserved areas for growth. David Risher shares insights on profitability and the potential for mergers to pave the way for a bright future. The conversation also covers how Lyft is responding to investor dynamics, including buybacks and tech advancements. Notably, the pilot program for driverless vehicles in Atlanta is unveiled, along with trends showing Lyft's growth extending into Canada.
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Huge Untapped U.S. Rideshare Market
- Lyft sees huge market potential in U.S. rideshare, with only 2-3 billion rides done out of 160 billion total rides yearly.
- They aim to grow in less served cities like Indianapolis by obsessing over customer experience.
Strong Cash Flow Enables Expansion
- Lyft is generating nearly $1 billion in cash annually, enabling strategic investments and buybacks.
- International expansion is a focus, as shown by the FreeNow acquisition.
Customer Obsession Drives Profit
- Successful buybacks and profitable growth helped Lyft avoid activist investor pressure.
- Customer obsession drives Lyft's sustainable profitable growth.