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ByJared Tate
Basic Company Description
Management
Market
Strategy
Exit/Conclusion
Basic Company Description
Company Management Market Strategy Conclusion
Management Team
Logan Green John Zimmer Chris Lambert
PresidentCEO CTO
• Formerly worked at Zimride Zimride acquired by
Enterprise
• Worked alongside Logan Green at Zimride
• Leadership experience at companies such as Google and Intel
“He takes the time
to ensure quality.”
- Wesley Enterline
“Passionate entrepreneur
with keen business sense”
- Heston Liebowitz
Lead developer of the web's first W3C
Geolocation API service
Company Management Market Strategy Conclusion
Key Decision Makers
• Eric Garland
Board Member
• Raj Kapoor
Board observer
• Simon Rothman
Board Observer
• Ann Miura-Ko
Board Observer
Company Management Market Strategy Conclusion
Other Investors
Taxi Industry - $11 Billion
Uber Valuation $41 Billion
Medium Regulation
Market Characteristics
Company Management Market Strategy Conclusion
Porter’s Five ForcesBargaining Power Over Suppliers: Low- Large number (fragmented) of potential drivers- Culture is enticing, but no significant pay increase
Bargaining Power Over Buyers: Low- Most people are not as aware of Lyft- Significant uneasiness with the industry
Threat of New Entrants: Medium- No significant technological advantage, or economies of scale- Network effect keeps new players out
Threat of Substitutes: High- Taxis, bikes, personal cars, public transit, friends
Rivalry: Medium- 200+ Taxi companies- Few Tech players
Company Management Market Strategy Conclusion
Will There Only Be One?
Small company, no brand name
Beagle
Israeli company, more than $200M of funding
GetTaxi
Offers price discrimination to drivers
SideCarOther Players
Company Management Market Strategy Conclusion
Competition
Company Management Market Strategy Conclusion
Company Management Market Strategy Conclusion
Lyft Insurance Protection
Keep Your Tips
Commercial insurance protection for all drivers
Driver – Why Lyft?
User - Community
Company Management Market Strategy Conclusion
Valuation
Company Management Market Strategy Conclusion
Investments
• Series D - $250M
• Estimated $1.3B Valuation
Growth
• 15 to 65 markets in 12 months
Financials
• Estimated $100M revenue
• 13x multiple?
Exit Strategy
Company Management Market Strategy Conclusion
$500M
Conclusion/Investment Thesis
Company Management Market Strategy Conclusion
No
• Strong experience• Already successfulManagement
• Room for expansion• High rivalryMarket
• Uber wins• Lyft obtains minimal returnStrategy
• >$1B valuation at $100M gross run rate• IPO/Acquisition will not be high enough
Valuation/Exit Opportunities
No
No
Yes
Yes