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.
FILE PHOTO: A luminous sign appears in a Lyft car in Los Angeles, California, USA, on September 21, 2017. Photo taken on September 21, 2017. REUTERS / Chris Helgren / File Photo
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 was $ 2.16 billion in 2018, an increase of 103% from the previous year and 528% over 2016, 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 .
But the company recorded heavy losses, recording a loss of $ 911 million for 2018, which went from $ 688 million in 2017 to $ 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.
Lyft said in the record that last year there were 30.7 million passengers and 1.9 million drivers in the United States and Canada, the two countries where it operates.
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 US is close to 40 percent, up from 35 percent in early 2018, Reuters told Reuters.
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.
Report by Heather Somerville; Edited by Meredith Mazzilli