The first is that Lyft will get to set the narrative heading into the IPO process, which is crucial given that the company is smaller, more narrowly focused, and lesser known than Uber. If Lyft proceeds with the offering as planned, it would be the first to talk to potential investors on a roadshow and have the opportunity to define its role in the industry as a company gaining ground on a larger competitor.
Lyft plans to list on the Nasdaq under the ticker “LYFT,” and said in Friday’s filing that it aims to raise $100 million, though that is typically a placeholder that will be updated later in subsequent filings. Here’s what you need to know about the company ahead of its IPO. The company’s bookings, which represent the total dollar value of transportation spending through Lyft services, climbed to $8.1 billion from $4.6 billion in 2017 and $1.9 billion in 2016. Lyft’s net revenue represented 27% of the company’s bookings in the latest period. The company gives the example of a $24 ride-hailing charge, which includes a $4 tip and a $3 airport fee: Bookings would be $17 in this example, Lyft said.
The company discussed other pricing risks as well in its filing. One involves the company’s shared-ride product, which offers users a lower fare if they agree to share a car with someone else going along a similar route. If Lyft fails to adequately match riders or determine an appropriate fare for drivers in the case of shared rides, the company warns that its financials could be impacted.
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