The Ride-hailing company Lyft has filed for an initial public offering, “taking the lead on a string of billion-dollar-plus tech companies expected to join Wall Street next year”.
Reuters reports that Lyft’s IPO will “test investors’ appetite for the most highly valued Silicon Valley companies and for the ride-hailing business” saying that, while it has become a wildly popular service, it remains unprofitable and has an uncertain future with the advance of self-driving cars.
San Francisco-based Lyft, last valued at about $15 billion in a private fundraising round, did not specify the number of shares it was selling or the price range in a confidential filing with the U.S. Securities and Exchange Commission (SEC).
Reuters thinks Lyft could go public as early as the first quarter of next year, based on how quickly the SEC reviews its filing, and that it is expected to be worth between $20 billion and $30 billion.
