Ridesharing Startup Lyft Files for IPO, Beating Uber to the Punch
Company reports $2.1 billion in revenue and $911 million in losses in 2018.
Last Friday, ridesharing startup Lyft filed an S-1 Registration Statement with the U.S. Securities and Exchange Commission for an initial public offering, beating rival Uber to the punch. Lyft hopes to be valued between $20 billion and $25 billion. In its prospectus, Lyft reported that it had doubled revenue between 2017 and 2018 from $1.1 billion to $2.2 billion. In spite of that growth, Lyft also reported a $911.3 million loss. The IPO is being underwritten by J. P. Morgan, Credit Suisse and Jefferies.
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