12.6.18 - Lyft files paperwork for IPO ahead of Uber
"Lyft will be the first to test the public markets for the ride-hail industry, which has shown explosive growth during the past four years. Lyft was most recently valued at $15 billion. Uber has received proposals from banks interested in its IPO that valued the company at $120 billion."
"Both companies are entering a period of business uncertainty. Regulators in New York City, the largest market for ride-hailing, recently imposed regulations, going into effect in January, to set minimum pay standards. The ride-hail operators expect that fares will go up as a result."
"Lyft had revenue of $563 million in the third quarter, up nearly 90% from the year-ago period, and a loss of $254 million, according to the [Wall Street] Journal. Uber had $2.95 billion in revenue, up 38%, with a $1.07 billion loss."