The US dispatchers mediator Lyft steers with rapid growth, but also with high losses, to its IPO. The Uber competitor is only active in North America. The company doubled its sales last year to 2.16 billion dollars (1.9 billion euros). This is clear from the stock market prospectus published by Lyft on the weekend. But at the same time, the loss increased within a year from $ 688 million to $ 911 million. Lyft delivers in the US in a price war with Uber.
The published prospectus of Lyft does not contain any information on how much money the company wants to raise in the placement of shares and what overall rating is sought. According to information from the Silicon Valley branch service The Information, Lyft aims at revenue of one to three billion dollars at an overall rating of between $ 20 and $ 25 billion.
Stock market race with Uber
The Californian company delivers a kind of competition with Uber at the IPO. The financial service Bloomberg had reported in October, citing insiders of a possible overall rating of 18 to 30 billion dollars. For comparison: Uber’s initial public offering, which is also in full swing, is speculating on a valuation of up to $ 120 billion.
In the final quarter of last year, Lyft had 18.6 million active users, who completed 178.4 million journeys. The company is also smaller in the US market than Uber but wants to score with the promise of a more sustainable economy in addition to investors. Like Uber, Lyft entered the business as a bicycle lender.
Profit for GM, Alphabet, and Rakuten
Among the early investors who are likely to benefit from the IPO with significant increases in the value of their missions include the Japanese online retailer Rakuten, the Google parent company Alphabet and the car company General Motors. The two founders Logan Green (35) and John Zimmer (34) want to secure control after the IPO with special shares, each having 20 voting rights, while it is only one vote per share with other investors.
Email: colin@satprwire.com Phone: +44 20 4732 1984
Colin has been working in the business industry for quite a sometime and he recently made the decision to become a full-time business journalist. At Daily Research News, he also helps us take care of the business writing.
