Lyft Inc. ‘s initial public offering will give investors their first chance to invest in a ride-sharing service that’s growing fast and capturing significant...
Lyft Inc. ‘s initial public offering will give investors their first chance to invest in a ride-sharing service that’s growing fast and capturing significant market share from its bigger rival Uber.
Uber’s former chief executive Travis Kalanick was forced out in 2017 after pressure from investors, following reports of a workplace culture that included widespread sexual harassment and discrimination and the use of special software to deceive regulators. “Near-term, LYFT’s ability to reduce incentives for drivers and riders will be a key lever to its near-term profitability outlook,” said the note.Other risks include regulation. Regulators were caught on the back foot when ride-sharing first exploded on the scene and are still trying to catch up and create policy to address the complex issues that have arisen.
“We believe this is much more significant than a taxi-substitute, that transportation will become a service for many consumers and that transportation networks will become increasingly automated in the future,” he wrote in a note.
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