Lyft IPO could raise $2.1 billion at $18.5 billion valuation

Ridehailing startup Lyft hopes to lift as much as $2.1 billion in its IPO as the corporate launches its roadshow to drum up investor assist.

Beginning this week, the corporate will begin meeting directly with large investment funds to reply questions and ease considerations that the corporate is bleeding large quantities of pink ink whilst ridership will increase.

According to its filings with the U.S. Securities and Trade Fee, the corporate had revenues of $2.2 billion in 2018 up from $1.05 billion in 2017. However losses additionally grew sharply to $911 million in 2018 from $688 million in 2017.

The corporate says within the newest IPO replace that it hopes to promote 30.eight million shares of its inventory at a worth starting from $62 to $68 per share. After all, that worth may modify up or down relying on investor response this week.

Stil, it appears that Lyft will beat rival Uber out the IPO door, with the latter reportedly eyeing an April date.

As for Lyft, a precise date is anticipated to be set after the roadshow. It is going to be one of many largest tech IPOs since Snap’s debut virtually two years in the past raised $3.four billion and left it valued at $28 billion after the first day of trading.

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