SAN FRANCISCO - Lyft Inc inched closer to becoming the first ride-hailing company to make a stock market debut by releasing its filing for an initial public offering on Friday, giving the public the first detailed look at its financials since its 2012 launch.
Lyft’s revenue was $2.16 billion for 2018, a 103 percent increase over the previous year, and up 528 percent from 2016, according to the documents. Its gross bookings, or the total value of the rides it sells before driver pay is deducted, reached $8.05 billion for last year, 76 percent above the prior year and 323 percent above 2016 bookings.
Lyft said in the filing that last year it had 30.7 million riders and 1.9 million drivers in the United States and Canada, the two countries where it operates.
Source: News Formal (newsformal.com)
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