Lyft is the first of the major unicorns to flip its IPO to be disclosed so that people can review it, revealing a $15 billion private valuation.
Lyft released its long-awaited IPO prospectus Friday, revealing company financials for the first time and a growing share of the ride-hailing market.
div > div.group > p:first-child"> Lyft has been racing competitor Uber to the public markets. It's likely to be among the first of a hefty class of 2019 public offerings. The company is seeking to go public on the Nasdaq under the ticker symbol"LYFT." The company has been clawing market share from industry leader Uber, according to the filing. Lyft claimed 39 percent of the U.S. market at the end 2018, up 17 percentage points over two years.Lyft didn't specify the amount it hopes to raise in the public offering, instead opting for a placeholder amount of $100 million.
Reuters reported earlier that Lyft expects to be valued between $20 billion and $25 billion in its IPO. Uber, which has been releasing unaudited financials for several quarters, was said to seek valuation as high as $120 billion for its upcoming IPO, according to The Wall Street Journal. Japanese ad-tech company Rakuten stands to see the largest windfall from a successful debut. The company owns 13 percent of Lyft, followed by General Motors' 7.8 percent stake and Fidelity's 7.7 percent stake. Venture firm Andreessen Horowitz owns 6.3 percent, and Alphabet owns 5.3 percent.Lyft has been named to the CNBC Disruptor 50 List three times.
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