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Lyft’s $300 Million Deal With AWS: 5 Things You Need To Know

Ride-hailing company Lyft Inc. this month provided an unusual window into its relationship with Amazon Web Services.

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A $300 Million Deal

Lyft amended its commercial agreement with AWS in January, when it committed to spending a total of at least $300 million on AWS services this year through December 2021, with a minimum amount of $80 million in each of the three years.

“If we fail to meet the minimum purchase commitment during any year, we may be required to pay the difference, which could adversely affect our financial condition and results of operations,” Lyft disclosed in the SEC filing. “We pay AWS monthly, and we may pay more than the minimum purchase commitment to AWS based on usage.”

Lyft is the second largest ride-hailing company in the United States after Uber. It facilitated 178.4 million rides in the quarter that ended Dec. 31, so its estimated $8.3 million monthly payment to AWS would amount to about 14 cents per ride.

 
 
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