2018 Ridesharing Report
February 21, 2018

2018 Ridesharing Report

2nd Annual Ridesharing Consumer Survey

We are pleased to announce the results of SharesPost’s Second Annual Ridesharing Consumer Survey. For our year-end 2017 survey, we received 6,880 responses, compared to only 5,475 responses in our corresponding 2016 survey. Effectively, we have been able to track year-over-year (YOY) trends in the ridesharing sector, including trends in market share, overall ridesharing consumer preferences, usage, and satisfaction rates.

1. U.S. ridesharing adoption has increased from 38% in 2016 to 53% in 2017.

Fifty-three percent of surveyed U.S.-based consumers have used one or more ridesharing apps in the past 12 months. This number represents a 15 percent increase from the 38 percent of survey respondents who reported using such apps in our 2016 survey, and implies 2.5 times the usage reported in a 2015 Pew Survey measuring ridesharing usage and market penetration. We also observed enhanced market penetration within certain demographics, including millennials, city dwellers, and individuals who did not own cars.

2. U.S. ridesharing market has become a competitive duopoly.

While the global ridesharing market remains somewhat fragmented, with the major players dominating geographically distinct domains, the U.S. ridesharing space has taken on a “winners take most” dynamic. Currently, we estimate that, together, Uber and Lyft control more than 80 percent of the U.S. ridesharing market.

3. Lyft’s U.S. market share has substantially increased since 2016.

In 2017, 18 percent of ridesharing app users reported using Lyft most frequently, while only 10 percent of 2016 ridesharing users indicated Lyft as their first choice for ridesharing. By contrast, the percentage of ridesharing users who most often use Uber has declined from 76 percent in 2016 to 65 percent in 2017.

4. Among Uber and Lyft users, spend per ride and usage frequency have increased.

The results of our ridesharing survey highlighted positive trends in ridesharing, usage both in usage frequency and spend per ride. Uber and Lyft users are now spending more—and more often—on ridesharing services. Specifically, Uber and Lyft users now use ridesharing services for an average of 40 trips per year, and spend, on average, approximately $15 per trip.

5. Ridesharing services are replacing traditional public transportation services.

Consumers are increasingly choosing ridesharing services over more traditional means of transportation— in particular, public transportation. While the number of consumers using ridesharing apps has increased approximately 15% YOY, use of public transportation and traditional taxi services has declined.

PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

This article does not constitute an offer to provide investment advice or service. Registered representatives of SharesPost Financial Corporation do not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

Securities referenced in this article may be offered by SharesPost Financial Corporation, member FINRA/SIPC. SharesPost Financial Corporation and SP Investments Management are wholly owned subsidiaries of SharesPost, Inc. Certain affiliates of these entities may act as principals in such transactions.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice.

Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.

SharesPost, the SharesPost logo, My SharesPost, the SharesPost Index, and SharesPost Investment Management are all registered trademarks of SharesPost, Inc. All other trademarks are the property of their respective owners.

Copyright SharesPost, Inc. 2020. All rights reserved.

PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

This article does not constitute an offer to provide investment advice or service. Registered representatives of SharesPost Financial Corporation do not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

Securities referenced in this article may be offered by SharesPost Financial Corporation, member FINRA/SIPC. SharesPost Financial Corporation and SP Investments Management are wholly owned subsidiaries of SharesPost, Inc. Certain affiliates of these entities may act as principals in such transactions.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice.

Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.

SharesPost, the SharesPost logo, My SharesPost, the SharesPost Index, and SharesPost Investment Management are all registered trademarks of SharesPost, Inc. All other trademarks are the property of their respective owners.

Copyright SharesPost, Inc. 2020. All rights reserved.