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APink confetti raining down on Lyft's founders, Logan Green and John Zimmer, from the ceiling of their converted auto dealership in Los Angeles at the end of March, everything seemed to be going according to plan.
The taxi application had just raised 2.3 billion dollars (1.8 billion pounds) in a Nasdaq announcement valued at 24 billion dollars, well above what Green and Zimmer had planned to wait a few weeks in advance. Investors complain about the disproportionate voting rights of the duo and Lyft's lack of profits seems to have been ignored, and the company has successfully defeated its rival Uber in the market. On its first day as a publicly traded company – on the last Friday of March – Lyft shares jumped 9%.
The party did not last long. By Monday morning, …
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