Lyft is readying its initial public offering, but what the U.S.-focused ride-hailing app is worth is anybody’s guess. $15 billion? $25 billion? Another number? richardbeales1
Ride-hailing firm Lyft on March 1 filed publicly with U.S. regulators for an initial public offering.
Lyft’s revenue was $2.2 billion for 2018, double the previous year. But the company posted a loss of $911 million for 2018, which climbed from $688 million in 2017. Gross bookings, the total value of the rides Lyft sells before driver pay is deducted, reached $8.1 billion last year, 76 percent above the prior year.
The San Francisco-based company is now all but certain to go public before larger but also unprofitable rival Uber Technologies. Uber in 2018 lost $1.8 billion on an adjusted EBITDA basis, it said on Feb. 15. Its revenue for the year was $11.3 billion and ride bookings were $50 billion. Unlike Lyft, Uber for the past few quarters has shared selected financial data with the public, though its draft IPO filing is not yet available.
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