Lyft’s obsession with its customers is not only about their experience — the company is also investing in its drivers to help them provide better service, even as it expands premium features for passengers.
“Our goal is to set a new standard of service for the industry,” said Risher.
According to Risher, Lyft has developed an AI-based support tool for drivers that can answer questions, helping them spend more time on the road. During testing in January, around 28,000 support hours were saved, and the tool is expected to be launched for a broader audience.
“Remember, when a driver faces an issue, they’re forced to spend time resolving it,” said Risher. “That’s time — money. It’s time they’re not spending behind the wheel.”
According to Risher, premium offerings have become an important driver for passenger growth. One example is the Lyft Price Lock subscription, which was launched in September and allows customers to avoid paying surge prices with a $2.99 monthly fee.
The program is still small, with only about 1.6 million trips taken since its launch, but 70% of Price Lock users continue their subscription month after month, according to Risher.
These efforts seem to be paying off. According to the company’s earnings report, the total number of trips rose 15%, reaching 219 million, and the number of active passengers on the platform increased by 10%, to 24.7 million. Revenue reached $1.6 billion, a 27% increase over last year, while net income was $61.7 million compared to a net loss of $26.3 million in Q4 2023.
The company plans to continue enhancing its premium offerings in 2025.
“We want drivers to expect more from every ride, whether they’re feeling special in their extra comfort, riding in a black SUV, or earning rewards in small but meaningful ways for their loyalty,” Risher said.
Lyft’s premium push reflects a similar trend in the aviation space. Carriers including American Airlines, Delta Air Lines, and Frontier Airlines are updating their high-end options in response to growing customer demand.