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Lyft was $ 24 billion before the stock market launch



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The Lyft-based Ride Hail group has staked its shares at $ 72 due to strong investor demand Trading in equities begins on the tech-dominated Nasdaq Index on Friday.

The strong rating makes it the largest company to go public in China since 201

4.

It is expected that Lyf's main rival Uber will be in circulation again this year.

Technology-based companies Pinterest, Slack and Postmates will also be released this year.

Earlier this week, Lyft raised the indicative price range for its offering to $ 70 to $ 72 per share (previously $ 62 to $ 68).

Analysis: By Michelle Fleury, New York Business Correspondent

Lyft's stock sale is a big moment for the tech industry.

The shares of the Ride Hail Company were valued at $ 72 each. This was at the upper end of expectations. This speaks for a strong appetite before the company's first trading day as a listed company.

For a company that is not yet profitable, it confirms its business model, which has established it as the number two player in the US.

Wall Street is clearly committed to contributing to the massive growth of the carpool. This is a good sign for Lyf's rival Uber, who appears to be debuting on the New York Stock Exchange soon.

However, there are risks: from regulatory uncertainty to fierce competition, which is expected to develop with the development of the autonomous vehicle market. [19659005] And because of the stock structure with two classes (Lyft keeps voting control), investors buy a small piece of a company in which they have almost nothing to say.

Lyft was founded in 2012 by technology entrepreneurs John Zimmer and Logan Green three years after the founding of Uber.

It is still the smaller company with a limited international presence. It is expected that Uber is estimated at its IPO to about 120 billion dollars.

However, Lyft's profile has increased in recent years as his larger rival has been affected by controversy surrounding his aggressive corporate culture and data collection practices. [19659005] Lyft currently accounts for approximately 39% of the ride share market in the US, compared to approximately 22% in 2016.

Lyft's revenue doubled to $ 2.2 billion in 2018 compared to $ 1.1 billion in 2017, according to his filing with the Securities and Exchange Commission (SEC).

However, their losses also increased. The company lost $ 911 million in 2018, compared to $ 688 million in 2017.


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