REUTERS: Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as US$2 billion and to be valued at more than US$20 billion, according to people familiar with the matter.
Lyft's IPO will give provide a funding boost as it continues to subsidize rides with promotions to attract passengers. The windfall from the IPO will also help finance investments in areas such as autonomous driving, the sources said.
In its IPO filing, Lyft said its U.S. market share has risen to 39 percent, from 35 percent early in 2018, gaining some ground on long-dominant Uber. Unlike Uber, Lyft operates only in North America.
Source: Entertainment Trends (entertainmenttrends.net)
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