Lyft gives 1 billionth ride

Ride-hailing  company Lyft has given its 1 billionth ride, more than double the number of rides from the same time last year, according to Fortune.

The surpassed 500 million rides in October 2017, six years after its launch. The rapid growth in the last year comes as Lyft has launched in 20 more markets and gears up for an initial public offering in 2019.

Rival Uber announced it had surpassed 10 billion rides in July, though the company has a larger global presence, operating in 65 countries. Uber holds a 69 percent stake in the ride-hailing  market compared to Lyft's 29 percent.

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