Uber Vs Lyft: Here Are The Highlights From Lyft's IPO Filing

Shortly after Uber reported that even as the company continues to grow, generating record revenue in the latest quarter, yet burning ever more cash to preserve market share and grow it business as shown by its increasingly more negative EBITDA...

(Click on image to enlarge)

... on Friday, Uber's biggest competitor Lyft finally filed its long-awaited IPO application (reserving the ticker "LYFT" once it starts trading on the Nasdaq exchange) giving potential investors a first look at the company's financial information as it hopes to become the first the ride-sharing giant to go public.

In the 220-page S-1 filing, underwritten by JPMorgan, Credit Suisse and Jefferies (and 17 other banks) the company laid out a proposed offering size of $100 million as a placeholder, however, the amount is certain to increase in the coming weeks.

(Click on image to enlarge)

As Bloomberg writes, according to banks working with Lyft, the valuations pitched for the company ranged from $18 billion to $30 billion and by last week, that range had narrowed to $20 billion to $25 billion. That means that the company's valuation will increase by $5-10 billion in just half a year: last June, Lyft raised $600 million in a round led by Fidelity Investments at a $15.1 billion valuation; investors include Alphabet’s private-equity arm CapitalG, KKR & Co. and Baillie Gifford.

Going straight to the F-pages, the San Fran-based Lyft posted a net loss of $911 million on revenue of $2.2 billion for 2018, both a deterioration and an improvement to the $688.3 million loss on $1.1 billion revenue for 2017.

(Click on image to enlarge)

Somewhat concerningly, year-over-year growth slipped throughout 2018, falling from 130% in the first quarter to 94% in the fourth quarter, as the business is slowly approaching peak growth.

According to the IPO prospectus, Lyft had 30.7 million riders and 1.9 million drivers in 2018...

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.