Potential Lyft investors are questioning how and when the company will make money.
Lyft is in the process of courting investors, but potential buyers still question how and when the company will make money.
Lyft executives told hundreds of investors on the 20th floor of the St. Regis that the company will eventually reach 20 percent EBITDA margins, but gave no clear timeline for that watermark, according to three investors who asked not to be named because the meeting was private. Much like its rival Uber, Lyft is losing money. The second-largest ride-hailing company reported a $911 million loss on $2.1 billion in revenue last year, according to its IPO prospectus filed in early March. Lyft, which plans to list on the Nasdaq next week, said it expects sales to grow faster than its losses.
The company told the group, over a lunch of Caesar salad with chicken, that it would keep spending this year before pulling back to focus on profits.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Lyft to launch road show for up to $2 billion IPO: sourcesRide-hailing platform Lyft Inc will launch the investor road show for its initia...
और पढो »
Lyft will reportedly launch road show for up to $2 billion IPORide-hailing platform Lyft will launch the investor road show for its initial public offering on Monday, March 18.
और पढो »
Lyft to Seek Valuation of Up to $23 Billion in Its IPOLyft plans to peg its valuation at between $21 billion and $23 billion when the ride-hailing service kicks off the roadshow to market its initial public offering Monday, according to people familiar with the matter.
और पढो »
Lyft sets terms of IPO to raise up to $2.1 billionLyft Inc. set terms of its initial public offering, confirming the ride-hailing service is looking to raise up to $2.09 billion. The company said it offering 30.77 million Class A shares to the public, at an expected price of $62 to $68 a share. After the IPO, Lyft will have 271.37 Class A shares outstanding and 12.78 million Class B shares, holders of which will have 20 votes and can convert them into one Class A share, which was one vote. The Wall Street Journal originally reported the terms of the IPO late Sunday, which pegs Lyft's valuation at between $21 billion to $23 billion. The Class A shares have been approved to list on the Nasdaq Global Select Market under the ticker symbol "LYFT." The lead underwriters are J.P. Morgan, Credit Suisse and Jefferies. In 2018, Lyft recorded a net loss of $911.3 million, or $43.04 a share, after a loss of $688.3 million, or $35.53 a share, in 2017. Revenue more than doubled to $2.16 billion from $1.06 billion. Lyft is going public at a time that the Renaissance IPO ETF has run up 28% over the past three months and the S&P 500 has gained 11%.
और पढो »
Lyft gets its first buy rating ahead of IPO that’s expected to price next weekLyft Inc. ‘s initial public offering will give investors their first chance to invest in a ride-sharing service that’s growing fast and capturing significant...
और पढो »
As It Speeds Toward IPO, Lyft Faces Federal Lawsuit For Disability DiscriminationLyft is facing a federal lawsuit for allegedly excluding persons with mobility disabilities who need wheelchair-accessible vehicles (WAVs).
और पढो »
At IPO road show, Lyft executives look to lower insurance costsLyft Inc executives are focused on cutting insurance costs and will phase in sel...
और पढो »
Lyft's IPO oversubscribed on road show's second day: sourcesLyft Inc's initial public offering (IPO) is oversubscribed based on commitm...
और पढो »
Lyft outlines all the reasons ridesharing could fail, in its IPO documentsScooters and bikeshare, self-driving promises and lawsuits requiring better treatment of drivers could all stand in the way.
और पढो »