Lyft had two patents in social media during Q4 2023. Lyft Inc’s patent filed in Q4 2023 describes a system for supply control that uses historical data to predict driver demand for upcoming events and offers incentives to meet that demand. GlobalData’s report on Lyft gives a 360-degreee view of the company including its patenting strategy. Buy the report here.

Lyft grant share with social media as a theme is 50% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Driver supply control (Patent ID: US20230385978A1)

The patent filed by Lyft Inc. describes a system for supply control that utilizes historical event data to predict driver demand for expected events and determine incentives to meet that demand. The system involves receiving indications of expected events, analyzing historical data to select similar events, generating expected driver demand, selecting digital incentives based on demand and a yield model, transmitting these incentives to providers, monitoring user interactions, adjusting incentives based on responses, and updating the yield model based on driver yield during events.

The computer-implemented method and system outlined in the patent involve a detailed process of analyzing historical events, predicting driver demand, and adjusting incentives to meet that demand effectively. By utilizing similarity metrics, averaging historical data, and employing a nonlinear incentive yield function, the system aims to optimize driver supply during expected events. Additionally, the method includes selecting incentive transmission times, targeting specific regions, and modifying incentives based on user interactions, ultimately improving driver yield and updating the incentive model accordingly.

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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.