SRAX Recap: Lyft hits 1 billion Ride Mark, Amazon Becomes 3rd-biggest Digital Ad Seller, Facebook Increases Security

In this week’s digital news, Lyft officially passes the 1 billion ride mark, Amazon becomes the 3rd-biggest digital ad seller in the U.S., Facebook increases security settings for political campaigns, and more.

Lyft hits 1 billion ride mark

The popular ridesharing service announced this week that they have officially served 1 billion customers. This total is double the number of rides in October 2017, which shows an exponential growth rate. In comparison to Uber’s global reach, Lyft only serves North America, which makes the milestone all the more impressive. Upon posting these numbers, however, it’s no surprise that the service has plans to expand into England and Spain. The company also claimed it now has 35 percent market share in the U.S., making it a top dog in certain U.S. markets. To celebrate the milestone, Lyft will give a free tank of gas to 3,500 Lyft drivers, symbolic of the 3,500 people the company employs.

Amazon becomes 3rd-biggest digital ad seller

A new projection from eMarketer shows that Amazon will bring in $4.61 billion from digital advertising this year. This figure now puts the e-commerce site directly behind Facebook and Google. To give perspective, though, Amazon still only accounts for 4.1% of market share, compared to Google and Facebook’s combined 57.7%. The projections show Amazon’s shares will increase over the next few years, decreasing the foothold that Facebook and Google possess. To account for this influx in business, Amazon has already announced new ad features, including a focus on video content.

Facebook offers increased security for political campaigns

In advance of the crucial U.S. midterm elections, Facebook released a set of security settings for political campaign pages. These settings will be available for federal and state-wide candidates, as well as staff members and representatives from these campaigns. Administrators will be able to apply for these features at politics.fb.com/campaignsecurity. A crucial feature of the settings is a channel for campaign officials to report suspicious activity. Once an attack is discovered in the system, Facebook will now be able to protect other accounts from being affected. These new settings will get a trial run with the midterms, and they have the potential to protect major elections in the future.

Uber launches biggest ad campaign in history

It’s been a terrible couple years for Uber. In June of 2017, a post by Uber engineer Susan Fowler revealed that the company suppressed her complaints of sexism. Internal probes revealed a culture of sexism and inappropriate behavior, as well as borderline illegal business practices. The resignation of former CEO, Travis Kalanick, followed shortly after. To top things off, It was revealed later in the year that the company had suffered a data breach in 2016 and covered it up by paying off the hackers. The company’s new ad campaign is called the “Doors Are Always Opening” campaign, and it’s on track to be their largest and most expensive effort to date. The first ad debuted last Sunday night during the New York Giants ​–​ Dallas Cowboys game, and featured all of the different ways Uber can help the modern citizen.

Path app officially calls it quits

The tech industry proclaimed Path to be the next big social networking app after its launch in 2010. The app functioned as a mobile companion to Facebook, and it emphasized the use of sharing and messaging within smaller, more intimate social groups. It was gaining steam for a few years, and at its peak boasted 10 millions users and nearly $100 million in funding. Unfortunately, the app has seen a rapid decline in relevance over the past few years. After the app was acquired by Japanese company Kakao in 2015, interest and buzz about the company all but disappeared. This week the company announced that it’s formally cancelling its service on October 18, 2018. Users may retrieve a copy of their data over the next month before its erased permanently.

 

 

 

Published on September 21, 2018

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