By Matt Phillips and Erin Griffith Updated 6:12 pm PDT, Friday, March 29, 2019 Evan Sharp, Pinterest co-founder and chief product officer. Evan Sharp, Pinterest co-founder and chief product officer. Photo: Ben Margot / Associated Press 2018 Photo: Ben Margot / Associated Press 2018 Image 1 of / 7 Caption Close Image 1 of 7 Evan Sharp, Pinterest co-founder and chief product officer. Evan Sharp, Pinterest co-founder and chief product officer. Photo: Ben Margot / Associated Press 2018 After Lyft IPO, new investors may feel left behind 1 / 7 Back to Gallery The latest generation of Bay Area startups is sprinting to the public markets, raising hopes among large and small investors eager … [Read more...] about After Lyft IPO, new investors may feel left behind
Lyft ipo
Lyft IPO: Shares pop 20 percent to open trading
By Levi Sumagaysay | [email protected] | Bay Area News GroupPUBLISHED: March 29, 2019 at 8:51 am | UPDATED: March 29, 2019 at 8:57 am Lyft’s shares soared 20 percent at the opening of trade Friday to lead off the 2019 IPO caravan as the first of the Bay Area tech unicorns to go public this year. The San Francisco company’s shares opened at $87.24, much higher than the $72 price Lyft set Thursday, which was at the upper end of the revised range the company announced this week amid high investor demand. Friday, Lyft co-founders Logan Green and John Zimmer were at the company’s driver center in Los Angeles, which was awash in confetti and applause as the TV cameras rolled and Green rang the opening bell for the Nasdaq Stock Market. The Lyft IPO, which valued the No. 2 U.S. ride-hailing company at $24 billion as it beat much bigger rival Uber to market, is the biggest on the Nasdaq since Facebook’s market debut in 2012. Lyft’s entry is … [Read more...] about Lyft IPO: Shares pop 20 percent to open trading
Lyft IPO: Lyft hikes IPO target, giving the ride-hailing service a $24 billion value
Lyft is boosting the price target for its initial public offering in a sign of the excitement surrounding the stock market debut of a ride-hailing service that's gaining ground on its rival Uber. Lyft is now seeking $70 to $72 per share, up from its previous goal of $62 to $68. If it attains its new pricing goal, Lyft will have a market value of about $24 billion, even though the San Francisco company still hasn't turned a profit since co-founders Logan Green and John Zimmer started the service in 2012.Since then, Lyft and Uber have combined to popularize the trend of summoning a ride on a smartphone app that connects them to drivers who use their own cars to pick up passengers. The fares are split between the drivers and the ride-hailing companies that make the connections.Lyft is just one of a number of high-profile IPOs expected in 2019, which may also bring sky-high valuations. Uber could be valued at $120 billion, surpassing Facebook's $104 billion valuation in its 2012 IPO, the … [Read more...] about Lyft IPO: Lyft hikes IPO target, giving the ride-hailing service a $24 billion value
National #DriversUnite Movement calls for SEC to reject LYFT IPO : Indybay
From the Open-Publishing CalendarFrom the Open-Publishing NewswireIndybay Feature Protections for Gig Economy Workers Against Corporate Abusive Practices DRIVERS UNITE in Protecting Gig Economy Workers Against Corporate LYFT - Saying "NO to LYFT IPO!" We are 100% volunteer and depend on your participation to sustain our efforts! Donate $ 197.00 donated Get Involved If you'd like to help with maintaining or developing the website, contact us. … [Read more...] about National #DriversUnite Movement calls for SEC to reject LYFT IPO : Indybay
Lyft IPO Filing Revealed, Showing Big Loss As Revenue Doubled
Ride-sharing company Lyft filed a preliminary document Friday on its way to a long-anticipated initial public offering, and hopes to value the company in a range of $20 billion to $25 billion. X The Lyft IPO S-1 prospectus, filed with the Securities and Exchange Commission, revealed detailed financial information for the first time publicly. Lyft reported revenue of $2.15 billion in 2018, double that of the previous year. It also showed a net loss of $911.3 million vs. $688.3 million in the prior year. Bookings in 2018 totaled $8.1 billion. "We believe that the world is at the beginning of a shift away from car ownership to Transportation-as-a-Service, or TaaS," said the Lyft prospectus. It plans to list on the Nasdaq under the ticker LYFT. The lead underwriters are JPMorgan, Credit Suisse and Jefferies. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Financial … [Read more...] about Lyft IPO Filing Revealed, Showing Big Loss As Revenue Doubled