Lyft is in the process of courting investors, but potential buyers still question how and when the company will make money.
Lyft executives told hundreds of investors on the 20th floor of the St. Regis that the company will eventually reach 20 percent EBITDA margins, but gave no clear timeline for that watermark, according to three investors who asked not to be named because the meeting was private. Much like its rival Uber, Lyft is losing money. The second-largest ride-hailing company reported a $911 million loss on $2.1 billion in revenue last year, according to its IPO prospectus filed in early March. Lyft, which plans to list on the Nasdaq next week, said it expects sales to grow faster than its losses.
The company told the group, over a lunch of Caesar salad with chicken, that it would keep spending this year before pulling back to focus on profits.
Broke ass IPO'S the reason for IPO, private investment want their money back and only way to do it is sell their non profitable TRASH TO THE PUBLIC!
$LYFT I'd have more satisfaction making paper snowflakes out of $100 bills than buying this shit -
Other famous promises: 1) checks in the mail 2) only highway driven 3) I won’t xxx in your mouth
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As Lyft kicks off IPO roadshow, investors still uncertain about profitabilityPotential Lyft investors are questioning how and when the company will make money. They should be. The only way any of these gig economy businesses can become profitable is if they can sucker enough investors to wait out their competitors and raise prices on a monopolized market.
Source: CNBC - 🏆 12. / 72 Read more »
Lyft sets terms of IPO to raise up to $2.1 billionLyft Inc. set terms of its initial public offering, confirming the ride-hailing service is looking to raise up to $2.09 billion. The company said it offering 30.77 million Class A shares to the public, at an expected price of $62 to $68 a share. After the IPO, Lyft will have 271.37 Class A shares outstanding and 12.78 million Class B shares, holders of which will have 20 votes and can convert them into one Class A share, which was one vote. The Wall Street Journal originally reported the terms of the IPO late Sunday, which pegs Lyft's valuation at between $21 billion to $23 billion. The Class A shares have been approved to list on the Nasdaq Global Select Market under the ticker symbol "LYFT." The lead underwriters are J.P. Morgan, Credit Suisse and Jefferies. In 2018, Lyft recorded a net loss of $911.3 million, or $43.04 a share, after a loss of $688.3 million, or $35.53 a share, in 2017. Revenue more than doubled to $2.16 billion from $1.06 billion. Lyft is going public at a time that the Renaissance IPO ETF has run up 28% over the past three months and the S&P 500 has gained 11%. ill wait till it goes down 50% then grab a little. lyft
Source: MarketWatch - 🏆 3. / 97 Read more »
Lyft: Be Ready for the Long HaulHeard on the Street: Lyft has plenty of money to burn and will likely keep doing so Reminds me of the job my ex HB had when we first moved to SF in 2000...they had a “burn rate”, a million a month. One year later everyone was laid off. The problem with ride-hailing firms is that none of them have made a demonstrable profit. Someone else’s money I guess.
Source: WSJ - 🏆 98. / 63 Read more »
Lyft to Seek Valuation of Up to $23 Billion in Its IPOLyft plans to peg its valuation at between $21 billion and $23 billion when the ride-hailing service kicks off the roadshow to market its initial public offering Monday, according to people familiar with the matter. Sell A $22b valuation is outrageous. The co. which is not only unprofitable but has bled more and more red ink every year of its existence will have nominal at best corporate governance. ) ) ) ) ( ) ) _(___(____)____(___(__ _ \\ If you can't afford to / \\ pay a living wage, / _ \\ you don't have /___ | \\ a viable / \\ business / \\__________ /
Source: WSJ - 🏆 98. / 63 Read more »