Today Lyft will Show-Off its Plans for $2 Billion IPO

Today Lyft will Show-Off its Plans for $2 Billion IPO

Business

Lyft Inc. is ready to detail its plans to boost as good as $2 billion in an initial public offering (IPO). As per the people close with the matter, the ride-hailing giant will launch its investor roadshow on Monday, i.e., March 18. The company is looking forward to winning over investors for making significant commitments to its IPO. The ride-hailing company will meet with financiers across the U.S. before setting the IPO. Besides, it will list on the Nasdaq at the month end. As per Tech Crunch, Lyft will reportedly price its shares at between $62 and $68 respectively. It will raise around $2 billion in the process.

Last year, in December, the business filed its documentation for an IPO. At the same time, Uber, one of the competitors in the market, filed paperwork for the same. The car-sharing giants are in a race to the public markets, inflaming a pricing war ahead of their IPO’s in an ambition to impress investors. The business has not officially valued its shares. As per the S-1 filing of the company, it will raise up to $100 million amid IPO. The ride-hailing company will pitch itself for a more focused bet on ride-hailing to stand aside from Uber.

On the other hand, Uber is looking for an appraisal as high as $120 billion at its public offering. Uber has branched out to other sectors like food delivery and transportation across the world. Although some analysts have hooked it near to $100 billion depending upon its selected financial figures. At the targeted estimation, Lyft’s offering will be the biggest from a technology startup after Snap Inc. went public. It gained $2.16 billion for 2018, which is double than the previous year. But the company announced a loss of $911 million for 2018, which soared from $688 million in 2017 and $682 million in 2016. All the values are mentioned in the IPO filing of the ride-hailing giant.

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