Ride Sharing Giant Lyft Acquires YesGraph
As reported by TechCrunch, ride sharing startup Lyft has acquired YesGraph, an app user growth platform. Financial terms of the deal were not disclosed.
YesGraph was started in 2012 after founder Ivan Kirigin spent countless hours working to optimize Dropbox’s famous referral program. Knowing how powerful referrals can be, the startup wanted to make them more accessible and smarter so they could be used by any company. Using machine learning and social graph analysis, YesGraph powers app companies’ growth by generating high-performance invite and referral flows and optimizing for the best new users.
According to TechCrunch, the acquisition is designed to help Lyft capitalize on its rapid existing growth pace, which has benefitted from the public relations tsunami faced by its chief rival, Uber. Lyft has also expanded to more than 160 new cities during the past year alone, and it has already seen more rides in 2017 than it provided during the entirety of 2016.