Lyft Kicks off IPO Road Show

Lyft Inc. launched its IPO road show for its initial public offering.  Lyft and its ride-hailing tech competitor Uber Technologies Inc. previously have raised capital privately with investors more than happy to invest. 

Tech firms such as Slack Technologies Inc, Stripe Inc. and Airbnb Inc. have decided to make market debuts possibly due to insider urgencies to cash out. 

Lyft declared on Monday that is plans to raise up to USD 2 Billion in its IPO at a valuation as high as USD 23 Billion. 

Uber has projected a hopeful valuation of USD 120 Billion, although analysts expect it to be closer to USD 100 Billion on the financials that it has disclosed. 

According to the filing, Lyft plans to sell over 30 million class A shares which have fewer voting rights than class B shares between USD 62 and USD 68 per share.  Lyft plans to IPO on the Nasdaq exchange on March 29th under the symbol “LYFT”.

Uber will impress investors with a diversified strategy while Lyft will pitch investors on its simplicity of its business.  Lyft has almost 40% of the ride-sharing market, but has disclosed its fear that further growth will come at the expense of increased losses.

Lyft reported a loss of USD 688 Million in 2017 versus a loss of USD 911 Million in 2018.  Lyft Vice President John Zimmer and Chief Executive Officer Logan Green will hold a total of 48.8% of voting power after the offering.

3 Comments
  1. Paul Wimmers 3 years ago
    Reply

    $LYFT Wondering how many shares or stock-options will be given to employees pre-IPO. It is all based on our new “sharing economy”

  2. Tom Bergman 3 years ago
    Reply

    Last but not the least, $LYFT claims to have 39% market share in the US. However, note that the data is provided by Rakuten Intelligence, which is owned by Rakuten Inc, which owns a nice big chunk of Lyft. Nice.

    • Harold Cooper 3 years ago
      Reply

      That’s why CarSmartt $CRSM is going to disrupt the ridesharing market so much with their blockchain technology and subscription based business plan allowing their drivers to take home 30-40% more than what an $UBER $LYFT driver takes home

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