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Lyft to File for IPO Next Week?
Reports say ride-hailing service Lyft Inc. is likely to file for an initial stock offering next week and begin holding meetings with would-be investors in mid-March.
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Ride-hailing service Lyft Inc. is likely to file for an initial stock offering next week and begin holding meetings with would-be investors in mid-March, according to multiple media reports.
Lyft anticipates being valued at $20 billion-$25 billion, sources tell Reuters. They say rival Uber Technologies Inc. is several weeks away from launching its own IPO, which is likely to be valued as much as $120 billion.
Both companies continue to increase revenue, but neither is profitable. Uber reported last weekend that it had narrowed its net loss last year but also that its revenue growth continues to slow. Reuters says Lyft has readied data intended to persuade investors that it will soon achieve profitability.
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