Providing few details, Lyft on Monday announced it was taking the plunge into the loyalty game, offering all of its passengers incentives for their repeat business. This follows on the heels of a loyalty program that rolled out last winter designed specifically for business travelers. That Lyft beat Uber to the punch with a loyalty offering, as scant as information is about the program, was not lost on us.
The race appears to be on, as both Lyft and Uber pretty themselves up for what will most likely be two of travel's most anticipated initial public offerings in 2019. Lyft has already hired bankers, and Uber is entertaining proposals from Wall Street. The timing of the IPOs will be significant. Who has more to lose by going public after the other? Clearly, Lyft has more momentum at this point, but as the much smaller company, it has much more to prove, too. Gauging riders' loyalty will just be part of it.
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