Lyft files for public IPO

Lyft files for public

CNN – By Matt Egan and Lydia DePillis

Looking under Lyft’s hood: Lyft appears to have beaten Uber in the race to become the first US ridesharing company to go public.

The Lyft IPO, which could come next month, may serve as an icebreaker in the frozen IPO market. US offerings have plunged — largely as a result of the longest government shutdown in American history.

Investors will soon get a look under Lyft’s hood. After submitting its IPO paperwork confidentiallywith the SEC late last year, Lyft is expected to make the filing public as soon as this week, The Wall Street Journal reported.

The documents will give Wall Street a glimpse into whether Lyft is worth the $25 billion valuation it’s reportedly seeking. The key questions include how close Lyft is to achieving profitability, how fast the company is stealing market share from Uber and what risks these companies face.

Full Article https://www.cnn.com/2019/02/24/investing/stocks-week-ahead-lyft-ipo-uber/index.html

CNN – By Matt Egan and Lydia DePillis

Categories: Ridesharing