Look to IPO ETF as Lyft Sets Off

Jermaine Castillo
March 4, 2019

"The growth rate in revenue per active rider increased significantly in the first and second quarters of 2017 as our brand and values continued to resonate with riders and they increased their usage of Lyft instead of competing offerings", according to the filing.

Reuters reported Lyft will launch its road show around 18 March, where the company will meet with prospective investors to drum up demand for its shares.

Lyft booked revenue of $2.16 billion in 2018 and a loss of $911.3 million, according to its IPO filing.

The ride-hailing company would be traded under the ticker "LIFT", and is seeking to create a dual-class stock structure that would concentrate voting power in the company's founders, Logan Green and John Zimmer.

Pakistan continues partial opening of airspace amid India crisis
Pakistan denied using the American-supplied fighter and denied that any of its planes had been shot down. He also urged them to help resolve the Kashmir issue as per the United Nations (UN) resolutions.

Lyft pulled back the curtain on its business for the first time on Friday as it prepared to go public, officially starting the countdown on a horde of technology offerings that are set to bring new wealth to Silicon Valley this year. Its revenue for the year was $11.3 billion and ride bookings were $50 billion.

While Lyft has always been viewed as the friendlier alternative to Uber, its image has been put to the test in recent months. Banks have sketched out valuation scenarios for Uber as a public company that stretch as high as US$120 billion, people familiar with the matter have said.

In its IPO prospectus registered with the SEC, Lyft said it had 2.2 billion USA dollars in revenue in 2018, an increase from 1.1 billion dollars in the previous year.

Lyft does not expect to make much in the near future on its expansion into bike and scooter renting.

Pak War Crises: #GoBackModi is trending in India
Foreign Office Spokesperson Dr Mohammed Faisal said Pakistan was ready for dialogue with India on all issues including terrorism. Now "we can begin to have conversations that do not present risk of escalation to either of the two countries", he said.

Bookings - the amount of money spent by customers - are rising dramatically, which Lyft will try to emphasize for investors. In its early days, Lyft cars sported large, fuzzy, hot-pink mustaches on the front grill, and the company encouraged riders to sit up front with the driver and exchange fist bumps. But it warned investors that its expenses are likely to grow as it continues to expand and refines its mobile platform.

Neither Lyft nor Uber have said yet what their baseline share prices - known as the initial public offering - will be, so it's unclear how much the driver bonuses would be worth in company stock.

Investors such as JPMorgan Chase, Credit Suisse and Jefferies will be the primary underwriters for Lyft to go public on the Nasdaq. The number of active riders increased 47 percent in the fourth quarter of 2018 compared to the same period in 2017. Although it doesn't say what percentage of votes they would control, the filing says they "will be able to significantly influence any action requiring the approval of our stockholders", including the election of board members, a merger, asset sales or other major corporate transactions.

As revealed in documents filed on Friday, Lyft's biggest shareholders include Japan's Rakuten, General Motors, Fidelty, Andreesen Horowitz and Alphabet.

Vatican Cleric, Guilty Of Sexually Abusing Boys, Removed From Top Post
Pell still maintains his innocence, despite the verdict, his lawyers said in a statement following the pre-sentencing hearing. Cardinal George Pell has been remanded in custody after being found guilty of sexual offences against children in Australia .

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER