Lyft Inc. has beat rival Uber Technologies Inc. to an initial public offering, and that’s important for a number of reasons.
The company’s bookings, which represent the total dollar value of transportation spending through Lyft services, climbed to $8.1 billion from $4.6 billion in 2017 and $1.9 billion in 2016. Lyft’s net revenue represented 27% of the company’s bookings in the latest period. The company gives the example of a $24 ride-hailing charge, which includes a $4 tip and a $3 airport fee: Bookings would be $17 in this example, Lyft said.
The company discussed other pricing risks as well in its filing. One involves the company’s shared-ride product, which offers users a lower fare if they agree to share a car with someone else going along a similar route. If Lyft fails to adequately match riders or determine an appropriate fare for drivers in the case of shared rides, the company warns that its financials could be impacted.
After the IPO, Green will have 29.3% of the voting power and Zimmer will have 19.5% of the voting power.
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In market debut, Lyft counters Uber with 'nice guy' imageLyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc fo... Uber 🔜 lyft Merger & Acquisition ..., and they lived happily ever after 🖤💖 Both same thing... both fake “contractor drivers” and sell the more expensive app in human history
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