Ride-hailing platform Lyft Inc will launch the investor road show for its initia...
- Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as $2 billion and to be valued at more than $20 billion, according to people familiar with the matter.
Lyft will meet with investors across the United States before pricing the IPO and listing on the Nasdaq at the end of the month, the sources said. It will be pitching itself as a more focused bet on ride-hailing to differentiate itself from Uber, which has diversified to areas such as food delivery and freight hauling and expanded around the world, the sources said.
Other Silicon Valley unicorns - startup companies with valuations of at least $1 billion - including business messaging company Slack Technologies Inc and image-sharing company Pinterest Inc, are waiting in the wings to go public later in 2019, sources have said.Lyft’s IPO will mark the first time a ride-hailing company has debuted on the U.S. public markets. Lyft launched in 2012 and is led by its founders, Logan Green and John Zimmer.
In its IPO filing, Lyft said its U.S. market share has risen to 39 percent, from 35 percent early in 2018, gaining some ground on long-dominant Uber. Unlike Uber, Lyft operates only in North America. Losses could continue to mount, Lyft cautioned, as it continues to invest and eye a broader international expansion, and it could be forced to increase driver pay.
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