Lyft Inc. appears poised to beat rival Uber Technologies Inc. to an initial public offering after filings its paperwork Friday, and that’s important for a number of reasons.
The first is that Lyft will get to set the narrative heading into the IPO process, which is crucial given that the company is smaller, more narrowly focused, and lesser known than Uber. If Lyft proceeds with the offering as planned, it would be the first to talk to potential investors on a roadshow and have the opportunity to define its role in the industry as a company gaining ground on a larger competitor.
Lyft plans to list on the Nasdaq under the ticker “LYFT,” and said in Friday’s filing that it aims to raise $100 million, though that is typically a placeholder that will be updated later in subsequent filings. Here’s what you need to know about the company ahead of its IPO. The company’s bookings, which represent the total dollar value of transportation spending through Lyft services, climbed to $8.1 billion from $4.6 billion in 2017 and $1.9 billion in 2016. Lyft’s net revenue represented 27% of the company’s bookings in the latest period. The company gives the example of a $24 ride-hailing charge, which includes a $4 tip and a $3 airport fee: Bookings would be $17 in this example, Lyft said.
The company discussed other pricing risks as well in its filing. One involves the company’s shared-ride product, which offers users a lower fare if they agree to share a car with someone else going along a similar route. If Lyft fails to adequately match riders or determine an appropriate fare for drivers in the case of shared rides, the company warns that its financials could be impacted.
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 files for IPO, beating Uber to the punchLyft just passed Uber in the race to go public, filing paperwork Friday to raise as much as $100 million in its IPO
और पढो »
Lyft and Uber will let some drivers get stock at the IPO priceThe competing ride-hailing companies have worked out cash bonus programs which will allow some qualified drivers to buy company stock before it pops on the public markets, according to the Wall Street Journal.
और पढो »
Lyft files for IPO, pulling ahead in its race with UberLyft filed for a U.S. initial public offering Friday, giving investors a first look at crucial financial information about the ride-hailing company.
और पढो »
Lyft IPO filing shows surging revenue, widening lossesLyft Inc inched closer to becoming the first ride-hailing company to make a stoc...
और पढो »
Lyft reveals financial details ahead of its IPORide-hailing giant Lyft releases financial details in a federal filing before it begins selling its stock to the public. The company said its revenue grew from $343.3 million in 2016 to $1.1 billion in 2017 and $2.2 billion in 2018.
और पढो »
Lyft files IPO prospectus, shows slowing revenue growth and deepening losses
और पढो »
Lyft kicks off 2019 unicorn IPO spree with public S-1The countdown begins for Lyft's big IPO now that the company has officially filed its public S-1. Here's what was revealed in the filing.
और पढो »
Lyft outlines IPO plans that may pay big for some of its drivers
और पढो »
Lyft IPO promises roads to everywhereThe firm is growing fast in a huge market, and there’s a glimmer of a path to profit. But Lyft is also hemorrhaging cash, faces frightful competition and is dependent on robo-cars arriving soon. Wall Street is along for the ride, but public investors will need strong stomachs.
और पढो »