Lyft will IPO on Friday with an insane $24.3 billion valuation
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Summary
An IPO marks the point when a company makes its shares available on a public stock exchange, and Lyft is releasing 32.5 million shares costing $72 apiece. Other major tech companies that are reportedly mulling an IPO include Pinterest, video-chatting service Zoom, and workplace communications titan Slack.Still, you’ve got to give it to Lyft for achieving such a massive valuation, despite the fact that it doesn’t actually own any taxis and is yet to make a profit. Last year, the company reported $911 million in losses – an increase of 32 percent from the previous year.Another factor that makes this valuation a little strange include the fact that Lyft is only available in the US and Canada.
As said here by Matthew Hughes