Lyft has recently acquired two companies that could help the ride-sharing platform in its efforts to improve the number of its drivers and passengers. YesGraph provides social graph analysis services for both web and mobile applications. On its website, the firm claims that it uses machine learning to choose and recommend the set of potential consumers that an end user should invite. This should boost the rate of shares and invites that the service's subscribers experience. Lyft saw that the technology may help the platform grow by making its commuters talk about its services to other people. Once the acquisition is completed, the team behind the analytics enterprise will work on the transport provider's driver referral programs. These programs will give additional bonuses to motorists already working for Lyft once they successfully refer a new driver to the platform. However, this also means that it will shut down its public API by August 31, 2017.
The second acquisition, Datascore, has previously worked with numerous startups by providing technical assistance in their marketing campaigns. Lyft will take advantage of the firm's expertise in developing data-driven marketing tools approaches in the conceptualization and implementation of programs that not only attract but also retain drivers and commuters. It is important to note that an increase in the number of drivers almost always corresponds to an increase in the number of passengers. It is not yet known whether Datascore will also shut down but more information on that matter will likely be released soon.
The decision to purchase the aforementioned businesses is a part of Lyft's attempts to augment its ride numbers. Within the last few months, the platform has already bought several companies that offer services ranging from on-demand car washing to social messaging. These purchases, among other recent programs, have led to the impressive growth reported by the company. In the second quarter of 2017, Lyft's revenues increased at a higher rate compared to the figures reported by its much bigger rival Uber. This is attributed to the former's increased ridership, with the company already claiming that it had more passengers in the first few months of 2017 compared to what it had in the previous year.