Lyft filed for a U.S. initial public offering Friday, giving investors a first look at key financial information about the ride-hailing company.
, its revenue for 2018 was more than four times that of Lyft at $11.4 billion, and though Uber’s adjusted losses fell 15% from the year before, they still hit $1.8 billion.
“Lyft is dwarfed by Uber, but it’s clearly growing and edging into Uber’s customer base,” Kennedy said. Based on the revenue figures revealed Friday and a potential market value of as much as $25 billion, Lyft’s valuation multiple could make it more expensive than tech heavyweights such as Snap, Facebook Inc. and Twitter Inc., according to data compiled by Bloomberg.
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