Lyft had a $63 million impact in Denver in 2017, company report shows

Posted at 5:01 PM, Jan 17, 2018
and last updated 2018-01-17 19:03:19-05

DENVER – Ridesharing service provider Lyft had a big economic impact in the City of Denver last year, according to a new report released by the company this week.

In what the company credits to a “growing accessibility of Lyft rides,” the report states Denver saw $63 million in 2017 from Lyft, after expanding operations to 95 percent of the U.S.

The report, conducted by Land Econ Group, also states Lyft Denver riders saved over 2.5 million travel hours in 2017, or about $76 million because of the ridesharing service.

“Based on these survey results, passengers are saving time, spending locally, and reconsidering personal vehicle ownership when using Lyft in their daily lives- which leads to a tremendous long-term impact on our local economies,” said Gabe Cohen, General Manager for Lyft in Colorado.

Among 52 regions examined by the study, the report also found that:

  • 92 percent of Lyft passengers drive less than 20 hours a week
  • 80 percent of Lyft passengers use the service to get to restaurants or entertainment venues
  • 77 percent of Lyft drivers have made a new friend or networked for business by using the service
  • 54 percent of Lyft passengers use their car less because of Lyft
  • 48 percent of people using the service now explore more areas of their city
  • 26 percent of Lyft passengers use the ridesharing service to connect with public transportation.

Lyft was founded in June of 2012 by Logan Green and John Zimmer.