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Calling platform Lyft Inc will launch the investor road show Monday for its initial public offering, with the goal of raising up to $ 2 billion and worth more than $ 20 billion, according to people close to the record.
Lyft will seek to convince investors to make significant commitments in favor of its IPO, rather than waiting for its biggest rival, Uber Technologies Inc., which plans to launch its own public offering next month, said the same sources.
Lyft He will meet investors across the United States before determining the price of the initial public offering and its Nasdaq listing at the end of the month, the sources said. It will present itself as a more focused gamble on speeding up to differentiate itself from Uber, which has diversified into areas such as food delivery and freight transportation, and has grown worldwide, indicated the sources.
Uber is seeking a valuation up to $ 120 billion during its IPO, although some badysts have close to $ 100 billion, based on certain financial figures provided by the latter. Neither Uber nor Lyft are profitable.
LyftThe initial public offering will provide a financial boost as it continues to subsidize travel with promotions to attract pbadengers. The impact of the IPO will also fund investments in areas such as autonomous driving, the sources said.
Lyft refused to comment.
After a quiet start to the year, technology companies are preparing to be listed on the stock market as equity markets move closer to historic highs, but remain vulnerable to geopolitical concerns, including trade agreement tensions and slowing economies. , especially European and Chinese.
Other Silicon Valley unicorns – start-up companies with a valuation of at least $ 1 billion – include Slack Technologies Inc., a commercial messaging company, and the Toronto-based company. Pinterest images Inc., are waiting behind the scenes to become public later in 2019, sources said.
FIRST OF THE GENDER
LyftThe IPO of Iran will mark the first time that a company specializing in buyout has made its debut in US government markets. Lyft Launched in 2012, it is led by its founders, Logan Green and John Zimmer.
The airline industry, which has announced global sales of $ 36.5 billion in 2017, is expected to grow rapidly in the coming years, but raises many questions about the future of automated driving, regulatory backflow and the legal challenges of driver compensation and benefits.
Lyft will highlight investors' rapid growth in the United States and its relatively straightforward business model, which focuses on selling rides on cars, motorcycles and scooters, Reuters reported.
In its IPO repository, Lyft stated that its market share in the United States had increased by 35% in early 2018, from 35% at the beginning of the period, from 39% to Uber. Unlike Uber, Lyft only works in North America.
LyftRevenues were $ 2.16 billion in 2018, double the previous year and up 528% from $ 343 million in 2016. Lyft recorded a loss of $ 911 million for 2018, which increased from $ 688 million in 2017 to $ 682 million in 2016, according to its initial deposit.
The losses could continue to rise, Lyft warned, as it continues to invest and consider wider international expansion, and may be forced to increase driver salaries.
Uber's revenues reached $ 11.3 billion last year, while gross airline bookings were $ 50 billion. However, the company lost $ 3.3 billion, excluding gains on the sale of its business units abroad in Russia and Southeast Asia.
The SoftBank Vision Fund and Toyota Motor Corp. are part of a consortium of investors to invest $ 1 billion in Uber's self-driving unit, Reuters reported on Wednesday. Dealing with large investors who will influence a key business is an unusual move for a company so close to an IPO.
Reuters
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