This paper firstly analyzes the comparative advantages of carpooling under the mobile Internet and traditional travel modes, including buses, private cars and taxis, as well as the differences between carpooling under the mobile Internet and traditional carpooling, so as to obtain the factors that affect travelers’ mode choices. Secondly, the mixed logit model is used to describe the travelers’ travel mode choice behavior, which effectively avoids the limitations of the IIA characteristics and preference randomness of the logit model. Finally, we conducted an SP survey on 1077 samples online and offline. After eliminating some invalid samples, 984 valid ones were obtained. Based on these survey data, we analyze the impacts of carpooling under the mobile Internet on the mode shares of traditional travel modes. The results show that for different trip lengths, carpooling under the mobile Internet has different degrees of substitution for buses, taxis and private cars. That is to say, travelers who previously chose buses and other modes will shift to carpooling due to the mobile Internet. In addition, in most cases, the emergence of carpooling under the mobile Internet is helpful to reduce the traffic volume in the urban road network, thus alleviating the urban congestion. However, when the trip length is short and the seat utilization ratio of carpooling under the mobile Internet is low, carpooling under the mobile Internet will increase the traffic volume.