FORT LAUDERDALE – Lyft was proud to announce a large capital investment of $600 Million by KKR as they work towards building their infrastructure and continue to expand into hundreds of new cities in the United States. One of their most recent upgrades to the Lyft App which highlights their never-ending pursuit for innovation is the Lyft Amp.
The Lyft Amp is a stand-alone unit that sits on the Lyft Driver’s Dashboard (magnetic stand) and syncs with your smartphone via Bluetooth. It holds a charge for about 8 hours and pairs with your phone very quickly to allow riders to spot their Lyft driver as far away as 50 – 100 feet with a color-coded matching system. The rider is able to quickly “match” the Lyft Amp designated color in their current request as the Lyft Driver vehicle approaches, hence offering one more layer of transparency to their ridesharing experience, especially at night at busy intersections and in large crowds (i.e. concerts).
Many riders have noticed their name scrolling as they get seated in the car and they love the extra attention to detail which builds upon the sense of loyalty in the Lyft Community. The Lyft Amp is just one, among many other upgrades to the Lyft App yet to be announced to add an extra layers of transparency and safety to the Lyft ridesharing experience!
This recent cash infusion still puts Lyft well behind their rival, Uber with only a $7.5 Billion valuation when compared to Uber’s estimated $68 Billion valuation, however, in light of Uber’s recent string of public relation bundles that have haunted Uber in recent months, Lyft has reportedly gains a quick 8% – 10% boost in total marketshare from the events leading up to the unfortunate #DeleteUber social media movement.
While Lyft’s operation still focuses on building market share in the United States with its recent expansion to over 119 cities, Uber retains the Top Dog position in the ridesharing industry despite losing steam on the development and the launch of their autonomous vehicles across the country. Autonomous vehicles will eventually make it to the ridesharing marketplace. Most experts in the industry believe that the battleground between Uber and Lyft is poised to occur primarily in smartphone technology space as the technology, social media and on-demand services get more intertwined into our everyday lives.
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The Lyft Amp effectively adds brand recognition for Lyft and each Lyft App update will allow Lyft to position itself for even more innovation and value-added transparency which is incredibly exciting for Lyft Drivers as it ultimately will translate into more revenue-building opportunities (i.e. multiple stops “Stop 1” and “Stop 2” and Ride Scheduling up to 7 days in advance, etc.) for Lyft Drivers plus new and exciting opportunities to earn more Tips-in-the-App from upcoming value-added incentives which will entice riders to make the switch to Lyft to arrange their ridesharing experience.
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