Business World

Wednesday 12 December 2018

Lyft ends months of speculation as ride-hailing firm files for IPO

An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California
An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California
Independent.ie Business Desk

Independent.ie Business Desk

Ride-hailing company Lyft has filed with the U.S. Securities and Exchange Commission for an initial public offering, ending months of speculation about the timing of its much-awaited market debut.

The company, which was last valued at about $15bn, did not specify the number of shares it was selling or the price range for the offering in a confidential filing with the SEC.

The IPO is slated for the first half of 2019, sources have told Reuters. Bigger rival Uber Technologies Inc is also expected to pursue an IPO next year that could value it at about $120bn.

Lyft's IPO is expected to commence after the SEC completes its review process, it said in a press release on Thursday.

Lyft was set up in 2012 by technology entrepreneurs John Zimmer and Logan Green, three years after Travis Kalanick co-founded Uber.

Reuters

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