Lyft Inc.

07/25/2024 | News release | Distributed by Public on 07/25/2024 11:51

Prop. 22 upheld

We are thrilled that the California Supreme Court unanimously upheld the democratic will of the voters and did what's right for California's communities and economy. Prop. 22 was overwhelmingly passed by nearly 10 million California voters, and the effort to pass it was supported by more than 120,000 drivers and 140 community groups and organizations.

After Prop. 22 went into effect, more than 80% of California drivers surveyed said that it has been good for them. In fact, median hourly earnings of drivers on the Lyft platform in California were 22% higher in 2023 than in 2019.

From accessible and reliable transportation for riders, to economic opportunity for drivers, Lyft is building a more connected California:

  • In 2023 alone, more than 10 million people in California used the Lyft platform to find a driver.

  • 38% of rides start or end in low-income areas.

  • Nine out of ten riders - including women, people in the LGBTQ community, individuals with disabilities, and older adults - believe that Lyft increases access to transportation in their community.

  • Hundreds of thousands of drivers, 80% of whom are people of color, have earned billions of dollars through the Lyft platform.

  • Read our report with more information on our California riders and drivers here.

We are pleased to continue to bring Californians closer to their friends, family, and neighbors, and provide drivers with access to flexible earnings opportunities and benefits while preserving their independence. Prop. 22 was, and continues to be, a win-win for California.

Forward-Looking Statements

Certain statements contained in this announcement are "forward-looking statements" within the meaning of the securities laws, including statements about Lyft's operations. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft's filings with the Securities and Exchange Commission. Lyft does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.