قالب وردپرس درنا توس
Home / Business / Lyft Prices I.P.O. at $ 72 per share, arrival of the Gig Economy on Wall Street

Lyft Prices I.P.O. at $ 72 per share, arrival of the Gig Economy on Wall Street



Lyft was not the first company to engage in the ride. However, it is ready to become the first listed company, and investors' appetite for its stock has proved tremendous.

The company traded its shares at $ 72 on Thursday after its price range was increased given strong demand from potential shareholders. As a result, Lyft's value is over $ 24 billion as trading on the Nasdaq stock market begins Friday under the ticker symbol LYFT.

In total, the company raised about $ 2.3 billion, which increased the number of shares sold. (This amount could increase if Lyft's insurers sell an additional block of stock to cover even stronger than expected investor demand.)

The deal marks the rise of a new generation of Silicon Valley favorites in public markets. Many of the companies promised new business models, established established industries such as transportation, and unleashed a chain effect on people's working practices and livelihoods. Public offerings are consolidating the place of business in people's lives, promising millions in investment profits for their longtime backers and triggering a new wave of prosperity in the tech industry.

"said Jay Ritter, a professor at Warrington College of Business, University of Florida, with a designation for start-ups worth at least $ 1 billion.

However, some investors fear that these companies [19459010FloodinginredinkItisunlikelythatprofitshavebeenmadeforyearsovervaluedandultimatelydisappointingnewpublicfinanciersandsomecompaniesthatwentpublicwithlargelossesincludingGrouponandSnaparenowtradingwellbelowitsIPO

In its bid prospectus, Lyft announced that it had lost nearly $ 1 billion in 2018. Lyft and Uber regularly lose money to gain new markets in which they receive ample subsidies to drivers and drivers The companies are also burning money for other transportation initiatives such as bicycles, scooters and autonomous vehicles Lyft is the largest bicycle-sharing company in the United States for around $ 250 million.

"Obviously Lyft says the market:" We are ready to give you the doubt of things, "as there are great uncertainties about the future," said Ritter.

On its Initial Public Offering Due to the market value of Lyft, the price of classic cars like Ford Motor. It's a significant increase over the $ 15.1 billion that Lyft earned in the last private fundraising round.

Although Mr. Green and Mr. Zimmer bring their company to the public, they will continue to be in control by following a long tradition of technology companies with founder leadership. The two own special holdings, which account for almost 49 percent of the voting rights, although they own less than 5 percent of the total shares.


Source link