Lyft hopes to raise $2B with IPO
A Lyft van sits outside at First Friday in downtown Las Vegas on July 1, 2016. (Las Vegas Review-Journal)
NEW YORK — Lyft officially kicked off the road show for its initial public offering with 30 million shares expected to sell for between $62 and $68 per share.
That would raise more than $2 billion for the San Francisco ride-hailing company, which could be valued between $20 billion and $25 billion eventually.
Lyft has been in a race with Uber to be first to offer its stock to the public.
Lyft released financial details for the first time this month, reporting $2.2 billion in revenue but $911 million in losses. Lyft executives warned that the company could struggle to turn a profit.
The company has lost nearly $3 billion since 2012, but has brought in more than $5 billion in venture capital.
