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Lyft says its drivers have earned $500 million in tips

Lyft says its drivers have earned $500 million in tips

Lyft drivers have received more than $500 million in tips from their customers, the ride-hailing service said Monday.

The average size of tips also increased by 8 percent in 2017 compared with the previous year, Lyft said, probably thanks to an app overhaul last June that offered customers pre-set tip options.

But compared with Uber, Lyft has long been a small fry of the ride-hailing world.

For example, Lyft operates in nearly 300 cities, has received $4.1 billion in venture funding and is valued at $11.5 billion, whereas Uber is in more than 450 cities, has received $12.9 billion in funding and is valued at $68 billion.

Lyft has offered in-app tipping for more than five years, but limits gratuities to $50 or 200 percent of the cost of the ride, whichever is lower.

Source: www.cnet.com
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