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Lyft files for IPO

Video Credit: Reuters Studio - Duration: 01:07s - Published < > Embed

Lyft files for IPO

Lyft files for IPO

Ride-hailing company Lyft filed for an initial public offering, defying market jitters.

Roselle Chen reports.


Lyft files for IPO

Ride-hailing company Lyft filed for an initial public offering.

Lyft did not specify the number of shares it was selling or the price range.

Sources told Reuters, Lyft could go public as early as the first quarter of 2019, with a valuation between $20 billion and $30 billion.

The company was last valued at about $15 billion in a private fundraising round.

Kelley Blue Book's senior manager of analytics & insights Akshay Anand: (SOUNDBITE) (English) KELLEY BLUE BOOK, AUTOTRADER, SENIOR MANAGER OF ANALYTICS & INSIGHTS, AKSHAY ANAND, SAYING: "Some people are surprised that Lyft kind of be Uber to the punch, but, the reality is, this was expected, number one.

Number two, I think, it's important to realize that a lot depends on market conditions, right?

I think they even said that, depending on market conditions, they might delay a little bit, because we have seen a little bit of turmoil in the market recently.

So, it kind of depends on that, but, again, the reality is lift was going to go public." Analysts say, market turmoil, fuelled by trade tensions between the U.S. and China, could dampen enthusiasm for other tech IPOs in 2019.

That includes apartment-share service Airbnb, analytics firm Palantir Technologies, and Slack Technologies, a provider of chat services for businesses.

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