Lyft could turn a profit as early as 2022 as it is “well on its way to becoming a one-stop shop for on-demand transportation,” say analysts at Morningstar in...
Lyft Inc. could turn a profit as early as 2022 as it is “well on its way to becoming a one-stop shop for on-demand transportation.”
Lyft on Monday set the terms of its initial public offering, looking to raise up to $2.09 billion. The company said it would offer 30.77 million Class A shares between $62 and $68 a share, pegging its valuation at $21 billion to $23 billion. Unlike Uber Technologies Inc., which has food delivery and logistics businesses, Lyft has remained focused on on-demand transportation, which the Morningstar analysts liked.
Lyft also benefits from assets from its rider, driver, and mapping data in addition to its ride sharing-related assets.Morningstar estimated Lyft’s total addressable market, including taxis and ride-sharing as well as bike- and scooter-sharing world-wide, to be around $500 billion by 2023 and growing at 24% a year from 2018.
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