2019 is a pretty exciting year for tech and many are waiting to see what happens when the second largest ride-sharing company, Lyft, debuts on the public market. According to anonymous sources, the company is preparing to raise as much as $2 billion in its initial public offering (IPO) and is aiming for a market valuation of $20 billion to $25 billion
As reported by Bloomberg, a $20-$25 billion market valuation of Lyft's business would be the biggest from a tech upstart since Snap Inc., the entity behind the social media platform Snapchat. Lyft revealed a breakdown of its business in an IPO prospectus earlier this month, showing that the company was growing at a rapid pace, losing $911 million but gaining $2.1 billion in 2018. An updated filing from Lyft, as revealed by the anonymous sources, could spell out the price range and the number of shares it plans to market. Once that happens, the Lyft executives can market the stock to major potential public market investors.
While major forces in business await this initial public offering, Lyft's business charges forward. This month, the company is celebrating Women's History Month by offering rides to places that honor women's contributions to US history and select women-owned business. Here are a few words from Lyft board member Valerie Jarret:
"Throughout the month, you’ll learn which places helped contribute to the journey of community leaders like Brittany Packnett, Kim L. Hunt, and others. When I invited women to share their stories, I looked for a range of women people can identify with — women who make you think, 'I could be like them'."
Learning important lessons from the women who've made their mark in history, and recognizing so many of them are just everyday people, should empower people to feel like, 'I can do something, too.' That’s why, for Women’s History Month, Lyft is offering ride credit to help make these locations more accessible and affordable for everyone. It’s so exciting because — let's face it — sometimes the impediment to people visiting these wonderful places is that they simply can't afford to get there.'
Many eyes will be Lyft's IPO as we get closer to its debut on the public market, so stay tuned to Shacknews for additional tech and gaming updates.