Today's IPO gives Lyft a leg up in its race with Uber to go public this year.
Lyft posted a net loss of $911 million on revenue of $2.2 billion for 2018, according to Friday’s filing.
Lyft Inc. filed Friday for a U.S. initial public offering, giving investors a first look at crucial financial information about the ride-hailing company as it heads for the public markets. San Francisco-based Lyft posted a net loss of $911 million on revenue of $2.2 billion for 2018, according to Friday’s filing with the Securities and Exchange Commission. That compares with a loss of $688.3 million on revenue of $1.1 billion for the previous year.Lyft filed with an initial offering size of $100 million, typically a placeholder amount used to calculate fees that’s likely to change. The IPO is being led by JPMorgan Chase & Co.
Banks working with Lyft on its listing have pitched valuations for the company ranging from $18 billion to $30 billion, people familiar with the matter said in December. By last week, that range had narrowed to $20 billion to $25 billion, according a person familiar with the matter. In June, Lyft announced that it had raised $600 million in a round led by Fidelity Investments at a $15.1-billion valuation. Its investors include Alphabet Inc.’s private-equity arm CapitalG, KKR & Co. and Baillie Gifford.Friday’s filing gives Lyft a leg up in its race with Uber to go public this year.
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