Lyft files for IPO, pulling ahead in its race with Uber

Lyft posted a net loss of $911 million on revenue of $2.2 billion for 2018, according to Friday’s filing.

Lyft Inc. filed Friday for a U.S. initial public offering, giving investors a first look at crucial financial information about the ride-hailing company as it heads for the public markets. San Francisco-based Lyft posted a net loss of $911 million on revenue of $2.2 billion for 2018, according to Friday’s filing with the Securities and Exchange Commission. That compares with a loss of $688.3 million on revenue of $1.1 billion for the previous year.Lyft filed with an initial offering size of $100 million, typically a placeholder amount used to calculate fees that’s likely to change. The IPO is being led by JPMorgan Chase & Co.

Banks working with Lyft on its listing have pitched valuations for the company ranging from $18 billion to $30 billion, people familiar with the matter said in December. By last week, that range had narrowed to $20 billion to $25 billion, according a person familiar with the matter. In June, Lyft announced that it had raised $600 million in a round led by Fidelity Investments at a $15.1-billion valuation. Its investors include Alphabet Inc.’s private-equity arm CapitalG, KKR & Co. and Baillie Gifford.Friday’s filing gives Lyft a leg up in its race with Uber to go public this year.

Leg up? My thoughts about that

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lyft and Uber will let some drivers get stock at the IPO priceThe competing ride-hailing companies have worked out cash bonus programs which will allow some qualified drivers to buy company stock before it pops on the public markets, according to the Wall Street Journal. Time to become an Uber driver! Wow, them dumping on employees is article worthy?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Lyft reveals financial details ahead of its IPORide-hailing giant Lyft releases financial details in a federal filing before it begins selling its stock to the public. The company said its revenue grew from $343.3 million in 2016 to $1.1 billion in 2017 and $2.2 billion in 2018. Lyfting up expectations F uber... But, how much money did they lose?
Source: AP - 🏆 728. / 51 Read more »

Lyft kicks off 2019 unicorn IPO spree with public S-1The countdown begins for Lyft's big IPO now that the company has officially filed its public S-1. Here's what was revealed in the filing.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Uber and Lyft drivers will reportedly get stock in the highly anticipated IPOsRide-hailing companies Uber Technologies and Lyft will give some of their drivers a chance to participate in their initial public offerings, The Wall Street Journal reported Thursday. Uber safe or not because Sex Violence around Human being together 😂😂 Uber lyft This is conscious capitalism
Source: CNBC - 🏆 12. / 72 Read more »

Lyft just gave us the first look inside its financials — and they show widening losses as the company continues to growThe ride-hailing company made its IPO filing public for the first time on Friday.
Source: BusinessInsider - 🏆 729. / 51 Read more »