Rokt Partners with Lyft to Offer Riders More Relevant Experiences

Rhea-AI Summary

LYFT: Rideshare Company Partners with Rokt to Enhance Customer Experience in US and Canada

Positive

• Partnership with Rokt to offer more personalized experience for Lyft riders in North America
• Rokt's technology to present highly relevant offers to riders through the Lyft app
• Rokt's success record and credibility across industries
• Rokt's technology enables brands to create a seamless customer experience

Negative

• None.

Rideshare Company Using Rokt's Technology to Increase Loyalty and Engagement

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- Rokt, the leading ecommerce technology company using machine learning to make transactions more relevant to each shopper, today announced that it has partnered with Lyft, Inc. (Nasdaq :LYFT) to offer a more personally relevant experience to riders in the US and Canada. The ridesharing company is taking advantage of Rokt's technology to present highly relevant offers to riders through the Lyft app.

"Rokt and Lyft share a customer-first approach and an unwavering commitment to adding value to the digital experience," said Elizabeth Buchanan, CCO of Rokt. "We're thrilled to launch this partnership to make every Lyft journey more personally relevant for riders in North America and to support the Lyft Media division as it grows."

"Through Lyft Media, we'll communicate with our riders in a thoughtful way that improves their overall experience," said Zach Greenberger, Lyft Chief Business Officer. "We chose Rokt as an ecommerce partner because the company has an unparalleled record of success and has built deep credibility with clients across numerous industries. We're highly confident that Rokt will enable us to deliver a more custom in-app experience to every one of our riders."

Rokt enables companies to tap additional revenues, acquire advertising customers at scale and deepen relationships with their existing ones by using machine learning to present highly relevant offers to each shopper in the final stages of an ecommerce transaction, when they are most likely to convert.

Rokt's exclusive, closed marketplace is backed by intelligence powered by billions of annual transactions across hundreds of leading ecommerce businesses. The technology enables brands to create a seamless customer experience while controlling the types of offers eligible to be displayed to their customers. Businesses partnering with Rokt have been able to unlock incremental profitability of more than $0.30 per transaction by tailoring high-performing, relevant experiences to each customer.

About Rokt
Rokt is the global leader in ecommerce technology, enabling companies to drive incremental value from every transaction by offering highly relevant messages at the moment customers are most likely to convert. Rokt's machine learning technology has powered billions of global transactions annually for the world's leading companies, including Live Nation, AMC Theatres, PayPal, Uber, Hulu, Staples, Lands' End, and HelloFresh. Founded in Australia, with US headquarters in New York City, the company operates in 15 countries across North America, Europe and the Asia-Pacific region. Rokt for a second year in a row joined the fastest-growing private companies in the US on the Inc. 5000 list in 2022.

To learn more, visit Rokt.com.

About Lyft
Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Our transportation network brings together rideshare, bikes, scooters, transit and all in one app. We are singularly driven by our mission: to improve people's lives with the world's best transportation.

Media Contact:
Rokt
Tarana Mehta
tarana.mehta@rokt.com

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SOURCE ROKT Pte. Ltd.

FAQ

What technology company has Lyft partnered with to enhance rider experience?

Lyft has partnered with Rokt to offer a more personalized experience to riders in the US and Canada.

How does Rokt's technology benefit Lyft riders?

Rokt's technology enables Lyft to present highly relevant offers to riders through the Lyft app, enhancing their overall experience.

What is the potential impact of the partnership on Lyft's profitability?

Businesses partnering with Rokt have been able to unlock incremental profitability of more than $0.30 per transaction by tailoring high-performing, relevant experiences to each customer.

What is the focus of Lyft Media division in the partnership?

Lyft Media division aims to communicate with riders in a thoughtful way that improves their overall experience through the partnership with Rokt.

How does Rokt's technology benefit ecommerce businesses?

Rokt's technology enables companies to tap additional revenues, acquire advertising customers at scale, and deepen relationships with their existing ones by using machine learning to present highly relevant offers to each shopper in the final stages of an ecommerce transaction.