Lyft to launch road show for up to $2-billion IPO, sources say GlobeBusiness
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Lyft will meet with investors across the United States before pricing the IPO and listing on the Nasdaq at the end of the month, the sources said. It will be pitching itself as a more focused bet on ride-hailing to differentiate itself from Uber, which has diversified to areas such as food delivery and freight hauling and expanded around the world, the sources said.
The ride-hailing industry, which touted US$36.5-billion in sales globally in 2017, is expected to grow rapidly in the coming years, but is fraught with questions about the future of automated driving, regulatory pushback and legal challenges over drivers’ pay and benefits.Lyft will emphasize to investors its rapid growth in the United States and its relatively uncomplicated business model, which focuses on selling rides in cars, bikes and scooters, Reuters has reported.
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