Lyft's IPO filing shows surging revenue, widening losses
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Summary
6 Min ReadSAN FRANCISCO (Reuters) - 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. Lyft now has nearly 40 percent of the U.S. ride-sharing market, but warned further growth could come at the expense of yet more losses for a company already deep in the red, according to the filing. 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. 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.
As said here by Heather Somerville