Lyft will beat out rival Uber in the race to go public.
Reuters has learned the ride-hailing company plans to launch its roadshow for its initial public offering the week of March 18, and the Wall Street Journal reports it plans to list its shares on the Nasdaq at the end of March.
Sources say Uber still needs several more weeks for its IPO preparations.
They said Lyft now expects to be valued at between $20 and $25 billion.
By contrast, Uber pegs its value at up to $120 billion.
Lyft and Uber declined to comment.
Manhattan Venture Partners research head Santosh Rao said, "By going first, Lyft gets the benefit of the doubt in terms of how to value the whole sector.
That's definitely an advantage.
They're a pure play with a good path to profitability." Lyft is a much smaller company.
It offers its ride-hailing service in the U.S. and Canada.
Uber is global, operating in about 70 countries.
What's more, it also is involved in food delivery, air taxis, autonomous driving, freight hauling and AI research.
Both companies are losing money, so investors will focus on their potential for growth and future profits.