Lyft IPO Announces $ 2.2 Billion Business Number As Company Seeks to Attract Investors to Growth By Reuters



[ad_1]


© Reuters. FILE PHOTO: A luminous sign appears in a Lyft car in Los Angeles

By Heather Somerville

SAN FRANCISCO (Reuters) – Lyft Inc. is poised to become the first such company to make its IPO debut by issuing its initial public offering filing on Friday, offering the public a first-ever, comprehensive insight into the future. its financial results since its launch in 2012.

Filing with US securities regulators is almost certain Lyft will hold its IPO before rival Uber Technologies Inc., as it was one of the last tasks before the company could Launch a roadshow to invite potential investors to buy highly anticipated IPO.

Lyft's revenue reached $ 2.16 billion in 2018, an increase of 103% over the previous year and 528% over 2017, according to the documents. Its gross bookings, or the total value of trips sold before deducting salaries, reached $ 8.05 billion last year, up 76% from the previous year and 323% higher than 2016 bookings .

However, the company recorded heavy losses, recording a loss of $ 911 million for 2018, compared to $ 688 million in 2017 and $ 682 million in 2016, according to the documents filed.

San Francisco-based Lyft is well positioned to make its Wall Street debut of a highly regarded and venture-backed group of companies, such as Pinterest and Slack, expected to be released this year.

The company expects its IPO to be between $ 20 billion and $ 25 billion, up from $ 15 billion today, sources told Reuters. Lyft plans to launch its two-week roadshow the week of March 18, reported Reuters last week, setting up the company for its debut early April on Wall Street.

Uber, a large company with more varied activities, still needs several weeks to prepare for its IPO. A high valuation of Lyft would bode well for Uber's prospects.

In December, Lyft and Uber filed for an initial public offering with the US Securities and Exchange Commission. This process allows private companies to have more time to keep their financial statements secret and to reduce their exposure to market fluctuations.

Companies must publish the official version of the deposit before their roadshow.

Lyft has been keen to focus on investor growth relative to its total business figure, which is overtaken by Uber. Lyft's market share in the United States is around 40%, up from 35% in early 2018, people have been aware of the problem.

In 2018, Uber lost $ 1.8 billion before taxes, amortization and other expenses, an improvement over the loss of $ 2.2 billion recorded in 2017. Unlike Lyft, Uber has been broadcasting since the beginning of the year. 39, exercise of the selected financial data.

Warning: Fusion Media I would like to remind you that the data contained in this website is not necessarily real-time or accurate. All CFD (stocks, indices, futures) and Forex prices are not provided by stock exchanges but by market makers. As a result, prices may not be accurate and may differ from market prices, meaning that prices are indicative and not suitable for trading purposes. As a result, Fusion Media assumes no responsibility for any business losses you may suffer as a result of using this data.

Fusion Media or anyone involved in Fusion Media will not accept any liability for loss or damage arising from the use of information, including data, quotes, charts and buy / sell signals contained in this website. Please be fully aware of the risks and costs associated with financial market transactions. This is one of the most risky forms of investing possible.

[ad_2]
Source link