Lyft races ahead of Uber to Wall Street listing
Lyft filed documents for its public offering Friday, offering the first glimpse into its finances
It will trade on the Nasdaq under the symbol LYFT and, according to some reports, will seek a valuation of more than $20 billion. The filing with the Securities and Exchange Commission said only that Lyft “may continue” to expand its international operations, without offering specifics. Lyft said it is also investing in autonomous technology and hopes to roll out more self-driving vehicles, calling this “a critical part of the future of transportation.”
The rideshare firms claim that most drivers prefer the flexible work arrangement, even if it offers fewer benefits and less job security. The company will offer a bonus of $1,000 to $10,000 to eligible drivers by March 19 that may be used to buy shares at the offering price, although they may opt to pocket the cash.Lyft is the first of the major “sharing economy” startups to go public, with Uber and Airbnb expected to follow soon
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