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Lyft Kicks off IPO Roadshow
Lyft Inc. hopes to raise $2.1 billion in an initial public offering of shares that will be priced between $62 and $68.
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Lyft Inc. hopes to raise $2.1 billion in an initial public offering of shares that will be priced between $62 and $68.
The top end of that range would give the ride-sharing service a market value of $19.6 billion. Lyft is presenting its case this week to investors in such cities as Boston, Los Angeles, New York and San Francisco.
The IPO will leave Lyft co-founders Logan Green and John Zimmer with special Class B shares that give them a combined 49% of shareholder voting power.
Lyft’s regulatory filing for the IPO cautions in its regulatory filing that its operating costs are likely to rise and that the company may fail to “achieve or maintain profitability in the future.” The company’s shares will be priced on March 28 and begin trading on the following day.
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