Lyft Inc inched closer to becoming the first ride-hailing company to make a stoc...
SAN FRANCISCO - Lyft Inc inched closer to becoming the first ride-hailing company to make a stock market debut by releasing its filing for an initial public offering on Friday, revealing to the public a detailed look at its financial performance.
The company has managed to grab market share from better-funded Uber, but the filing failed to provide answers to how it will sustain growth or achieve profitability. Gross bookings, or the total value of the rides Lyft sells before driver pay is deducted, reached $8.05 billion last year, 76 percent above the prior year and 323 percent above 2016.
Uber in 2018 lost $1.8 billion before taxes, depreciation and other expenses. Its revenue for the year was $11.3 billion and ride bookings were $50 billion. Unlike Lyft, Uber for the last few quarters has shared selected financial data with the public. Both Lyft and Uber filed confidentially for an IPO with the U.S. Securities and Exchange Commission in December, a process that gives privately held companies more time to keep their financials secret and reduce their exposure to market fluctuations.Lyft has been eager to emphasize its growth to investors over its total revenue. Lyft said that as of December it held 39 percent of the U.S. ride-hailing market, up from 22 percent at the end of 2016.
But Lyft’s acquisition of bike-sharing company Motivate for $250.9 million last year is not expected to materially increase revenue in the short term. Revenue from Lyft’s scooter business was also not material.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Lyft IPO filing shows surging revenue, widening lossesLyft Inc inched closer to becoming the first ride-hailing company to make a stoc...
Baca lebih lajut »
Lyft files IPO prospectus, shows slowing revenue growth and deepening losses
Baca lebih lajut »
Lyft reveals financial details ahead of its IPORide-hailing giant Lyft releases financial details in a federal filing before it begins selling its stock to the public. The company said its revenue grew from $343.3 million in 2016 to $1.1 billion in 2017 and $2.2 billion in 2018.
Baca lebih lajut »
Lyft kicks off 2019 unicorn IPO spree with public S-1The countdown begins for Lyft's big IPO now that the company has officially filed its public S-1. Here's what was revealed in the filing.
Baca lebih lajut »
Lyft and Uber will let some drivers get stock at the IPO priceThe competing ride-hailing companies have worked out cash bonus programs which will allow some qualified drivers to buy company stock before it pops on the public markets, according to the Wall Street Journal.
Baca lebih lajut »
Lyft files for IPO, pulling ahead in its race with UberLyft filed for a U.S. initial public offering Friday, giving investors a first look at crucial financial information about the ride-hailing company.
Baca lebih lajut »
Lyft files for IPO, beating Uber to the punchLyft just passed Uber in the race to go public, filing paperwork Friday to raise as much as $100 million in its IPO
Baca lebih lajut »
Lyft IPO promises roads to everywhereThe firm is growing fast in a huge market, and there’s a glimmer of a path to profit. But Lyft is also hemorrhaging cash, faces frightful competition and is dependent on robo-cars arriving soon. Wall Street is along for the ride, but public investors will need strong stomachs.
Baca lebih lajut »
Lyft outlines IPO plans that may pay big for some of its drivers
Baca lebih lajut »