Lyft kicks off 2019 unicorn IPO spree with public S-1

Lyft CEO Logan Green and John Zimmer co-founded the ride-hailing startup, which could go public as soon as April.publicly filed its S-1 on Friday, kicking off the final sprint of the IPO process, which could see the ride-hailing startup go public as soon as April.Lyft also shared updated financials. The company saw $2.15 billion in revenue in fiscal 2018, according to the filing.

When it goes public, Lyft will list on the NASDAQ under the ticker simple LYFT, according to the S-1. The company is working with JP Morgan, Credit Suisse and Jefferies as lead bankers on the public offering, which is expected to take place in early April.multiple reports . The roadshow is reportedly expected to last around two weeks. After that, the official timing of Lyft's IPO is up to its team and how the greater markets perform.

This timing puts Lyft ahead of its ride-hailing rival Uber, which is expected to go public later this year in an IPO that could reportedly value the company as high as $120 billion.In its S-1, Lyft disclosed for the first time financials which shed light on its performance. The company saw $2.15 billion in revenue in fiscal 2018, up from $1.06 billion in 2017.that Lyft saw $909 million in revenue in the first half of 2018, which was twice its revenue in the same period of 2017.

The company also disclosed details of a new plan to put stock into the hands of its drivers, who did not previously receive equity in the company due to their status as contractors instead of full-time employees. The plan,, gives $1,000 to drivers who have logged 10,000 rides on its platform, and $10,000 to drivers who racked up 20,000 rides. It's up to the drivers whether they keep the money or use it to buy shares at the company's IPO price.

Source: News Formal (newsformal.com)

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