Alto, High-End Lyft And Uber Alternative, Keeps Growing

In the world of rideshare, Uber and Lyft form a de facto duopoly. It’s estimated that the two together command more than 95% of the market, with Uber taking the lion’s share. But Alto, a ride-hailing company that has pushed through the pandemic, may be poised to provide an alternative by targeting the most profitable part of the market.

The growing industry remains a tempting target for competitors like Alto. Currently over a $60 billion business worldwide, ride-hailing is projected to expand to $220 billion by 2025.