SAN FRANCISCO – In the eagerness to beat his rival Uber in the public market, Lyft is preparing to start trading in early April, according to two people familiar with the company's plans.
Lyft intends to start her roadshow, in which she will meet investors to comment on the initial public offering, the week of March 18, announced the two people. Businesses usually start trading about a week after a roadshow.
If Lyft wins this race, it will be the first company of its kind to become public. The two companies were stuck in a competition to go public, Lyft facing pressures to be the first to avoid being overshadowed by Uber, which is much bigger.
The start-up, founded in 2007 by Logan Green and John Zimmer, is one of many technology companies that are launching advertising early in the year. Slack and Pinterest are among the others.
Lyft and Uber refused to comment.
Lyft and Uber have have competed fiercely for runners and drivers since their beginnings, often introducing copy services a few days apart. In keeping with this tradition, both parties applied for listing on the Securities and Exchange Commission on the same day in early December.
The review of their records was briefly stopped when the government partially shut down later in the month. The review process may take longer for Uber than for Lyft, as Uber is involved in several secondary activities, such as the delivery of food and merchandise. Uber and Lyft both operate bike and scooter services, as well as autonomous car development wings.
Lyft will appear on the Nasdaq and should be worth between 20 and 25 billion, according to sources close to the company's projects. The details of Lyft's current tour have been reported for the first time by Reuters.
Lyft's list is a victory for Nasdaq, who struggled to attract technology companies after the exchange suffered delays and technical problems during the I.P.O. from Facebook. and faces fierce competition from the New York Stock Exchange for its debut in the technology sector. As a result of Facebook's collapse, tech companies like Snap, the parent company of Snapchat, Square and Twitter, have gone public at the Big Board.
The latest estimate of Lyft by private investors was $ 15.1 billion. JPMorgan Chase has been chosen to lead its bid.