Lyft Files for IPO
In a confidential filing with the SEC, Lyft did not state the number of shares it expects to offer, nor the price range. But Lyft says it expects to make its initial public offering after the SEC finishes its review process.
Lyft was last valued at about $15 billion, while competitor Uber is valued north of $100 billion.Uber, of course, is also expected to go public sometime next year. According to Reuters, Lyft’s IPO will happen during the first half of 2019 and be underwritten by JPMorgan Chase, Credit Suisse and Jeffries.
This is pretty bold, for one. To seek an IPO during a pretty tumultuous and anxious bearish market. As of writing, 2018 was a pretty bullish year. By the time Lyft IPO’s there’s a chance that the market will not be too hot.
This is all purely speculation of course. I still maintain the belief that Lyft is a great buy. Uber is overvalued, and little has changed since leadership swapped hands. I am very pleased to see Lyft beating Uber to be the first ride-sharing network to IPO. Personally, I’m rooting for Lyft. Fiscally, we all should be honestly. Competition is good in the marketplace, and leaves everyone better off.
Furthermore, and I can’t quite place it — but Lyft reminds of Apple’s early years in the 1980’s. Maybe I’m just hopeful. I’m not sure. But the fact that both companies believe that their core resources are people — is a big fucking deal. For example, Apple and Lyft care about diversity and inclusion.
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