Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Lyft prices IPO at top of range

Lyft raised more than $2 billion Thursday afternoon after pricing its shares at $72 apiece, the top of the expected range of $70 to $72 per share. This gives Lyft a fully-diluted market value of $24 billion.

The company will debut on the Nasdaq stock exchange Friday morning, trading under the ticker symbol “LYFT.”

The initial public offering is the first-ever for a ride-hailing business and represents a landmark liquidity event for private market investors, who had invested billions of dollars in the San Francisco-based company. In total, Lyft had raised $5.1 billion in debt and equity funding, reaching a valuation of $15.1 billion last year.

Lyft’s blockbuster IPO is unique for a number of reasons, in addition to being amongst transportation-as-a-service companies to transition from private to public. Lyft has the largest net losses of any pre-IPO business, posting losses of $911 million on revenues of $2.2 billion in 2018. However, the company is also raking in the largest revenues, behind only Google and Facebook, for a pre-IPO company. The latter has made it popular on Wall Street, garnering buy ratings from analysts prior to pricing.

Uber is the next tech unicorn, or company valued north of $1 billion, expected out of the IPO gate. It will trade on the New York Stock Exchange in what is one of the most anticipated IPOs in history. The company, which reported $3 billion in Q4 2018 revenues with net losses of $865 million, is reportedly planning to unveil its IPO prospectus next month.

Next in the pipeline is Pinterest, which dropped its S-1 last week and revealed a path to profitability that is sure to garner support from Wall Street investors. The visual search engine will trade on the NYSE under the symbol “PINS.” It posted revenue of $755.9 million last year, up from $472.8 million in 2017. The company’s net loss, meanwhile, shrank to $62.9 million last year from $130 million in 2017.

Other notable companies planning 2019 stock offerings include Slack, Zoom — a rare, profitable pre-IPO unicorn — and potentially, Airbnb.

Updating.

Zoom, a profitable unicorn, files to go public

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Leading VCs discuss how COVID-19 has impacted the world of digital health

In December 2019, Extra Crunch spoke to a group of investors leading the charge in health tech to discuss where they saw the most opportunity in the space leading into 2020 . At the time, respondents highlighted startups in digital therapeutics, telehealth and mental health that were improving medical practitioner efficiency or streamlining the distribution of care, amongst a variety of other digital health markets that were garnering the most attention. Where top VCs are investing in digital health In the months since, the COVID-19 crisis has debilitated national healthcare systems and the global economy. Weaknesses in healthcare systems have become clearer than ever, while startups and capital providers have struggled to operate while wide swaths of the market effectively shut down. Given significant volatility and the rapid changes seen in the worlds of healthcare, venture and startups broadly, we wanted to understand which inefficiencies might have been brought to light, w...
Post a Comment
Read more

News-reading app Flipboard expands local coverage, including coronavirus updates, to 12 more U.S. metros

Earlier this year, personalized news aggregation app Flipboard expanded into local news . The feature brought local news, sports, real estate, weather, transportation news and more to 23 cities across the U.S. Today, Flipboard is bringing local news to 12 more U.S. metros and is adding critical coronavirus local coverage to all of the 35 supported locales. The 12 new metros include the following:  Baltimore, Charlotte, Cleveland, Detroit, Indianapolis, Nashville, Pittsburgh, Orlando, Raleigh, Salt Lake City, St. Louis, and Tampa Bay. They join the 23 cities that were already supported:  Atlanta, Austin, Boston, Chicago, Dallas, Denver, Houston, Las Vegas, Los Angeles, Miami, Minneapolis-St. Paul, New Orleans, New York City, Philadelphia, Phoenix, Portland, Sacramento, San Diego, San Francisco Bay Area, Seattle, Toronto, Vancouver and Washington, D.C. To offer local news in its app, Flipboard works with area partners, big and small, like The Plain Dealer’s Cleveland.com , ...
Post a Comment
Read more