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Lyft aims to bag USD2 billion in IPO this month
It looks like Lyft will pip rival Uber to be first ride sharing company to go public – but only just.
Both IPOs could take place within the space of just a few weeks.
Lyft is targeting an end of March IPO and will conduct an investor roadshow from Monday to drum up support,.
It is looking to score about $2 billion from an estimated valuation of $23 billion.
After meeting investors it will then price the IPO, hopeful of bagging key investors waiting for Uber to go public.
Lyft said in its filing it now has a 39% market share and doubled revenue in 2018 to $2.16 billion. However, losses also widened to $911 million.
Uber is expected to go public in April on an optimistic valuation of $120 billion.
The back-to-back offerings could give the market a boost which has been fairly quiet so far in 2019.
Other major tech firms including Slack and Pinterest are aiming for a 2019 IPO although Airbnb recently said it may not go ahead with its own eagerly awaited public offering this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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