Lyft’s initial public offering could end up valuing the company at about $25 billion — more than 60 percent above its last private valuation -– sending an encouraging signal to the stampede of Silicon Valley companies lining up to go public this year.
The IPO gives Lyft a value of about $25 billion, including restricted stock and greenshoe shares that could be issued later by underwriters. Based on the total number of shares that were to be outstanding after the offering, its market value would be about $20.6 billion. Lyft first offered its shares for $62 to $68 each. Orders for the IPO were oversubscribed last week, two days after the company opened its roadshow to investors, people familiar with the process said at the time. On Wednesday, Lyft filed to increase that range.The company’s appeal to investors was based on the potential for the ride-hailing industry’s expansion as well as its own growing revenue, which doubled to $2.2 billion in 2018 from the previous year, according to its IPO filing.
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