Lyft’s imminent IPO could value the company at $23B
Ridehailing firm Lyft">Lyft will make its Nasdaq debut as early as next week at a valuation of up to $23 billion, The Wall Street Journal Lyft-to-seek-valuation-of-up-to-23-billion-in-its-ipo-11552876866?emailToken=34cd4be7a00c6775e5f7ae3cc920bd734OJE4QGVas2BkUCwWLuQnNJ3l6hlN/ROWoEKOCSIEn+Ctx+mxNlRRgCjXKtPUbdZGDVZNCOSzB91ma6ENbTppfzsifWkn1tx5MMBee1KXpfRlAV1Ge6bWPApKknagiF0reflink=article_copyURL_share">reports. The business will reportedly price its shares at between $62 and $68 a piece, raising roughly $2 billion in The process.
With aLyft-15-billion-600-million-funding-round/"> $600 million financing, Lyft was valued at $15.1 billion in June.
Lyft Lyft-ipo/\">filed paperwork for an initial public offering in December, mere hours before its competitor Uber did The same. The car-sharing behemoths have been in a race to The public markets, igniting a Lyft-discounts/">pricing war ahead of Their respected IPOs in a big to impress investors.
Uber’s IPO may top $120 billion, though oThers have more modestly pegged its initial market cap at around $90 billion. Uber has not made its S-1 paperwork public but is expected to launch its IPO in April.
Lyft has not officially priced its shares. Its S-1 filing indicated a $100 million IPO fundraise, which is typically a placeholder amount for companies preparing for a float. Lyft’s IPO roadshow, or The final stage ahead of an IPO, begins Monday.
San Francisco-based Lyft has raised a total of $5.1 billion in venture capital funding from key stakeholders including The Japanese e-commerce giant Rakuten, which boasts a 13 percent pre-IPO stake, plus General Motors (7.76 percent), Fidelity (7.1 percent), Andreessen Horowitz (6.25 percent) and Alphabet (5.3 percent). Early investors, like seed-stage venture capital firm Floodgate, also stand to reap big returns.
Lyft will trade under The ticker symbol “Lyft.” JPMorgan Chase Co., Credit Suisse Group AG and Jefferies Financial Group Inc. are leading The IPO.
Lyft recorded $2.2 billion in revenue in 2018, more than double The $1 billion recorded in 2017. The company posted a net loss of $911 million on The $2.2 billion in revenue and a $688 million loss on 2017’s $1 billion.
Lyft declined to comment.
