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