Lyft Releases Its Filing to Go Public, Revealing Financials - NBC Bay Area
National & International News
The day’s top national and international news

Lyft Releases Its Filing to Go Public, Revealing Financials

The ride-hailing company reported a net loss of $911 million last year, but double the revenue in 2018 than the year before

    processing...

    NEWSLETTERS

    Lyft Releases Its Filing to Go Public, Revealing Financials
    Kelly Sullivan/Getty Images for Lyft, File
    In this Jan. 31, 2017, file photo, a Lyft driver places a company device on his dashboard in San Francisco.

    Lyft released its long-awaited IPO prospectus Friday, revealing company financials for the first time.

    The ride-hailing company has been racing competitor Uber to the public markets. It's likely to be among the first of a hefty class of 2019 public offerings. It is seeking to go public on the Nasdaq under the ticker symbol "LYFT."

    Here's how the company did in 2018:

    • Net loss: $911 million, an increase of 32 percent from 2017
    • Revenue: $2.2 billion, double the revenue it saw in 2017
    • Bookings: $8.1 billion across more than 1 billion rides

    Lyft didn't specify an amount it hopes to raise in the public offering, instead opting for a placeholder amount of $100 million.

    Reuters reported earlier that Lyft expects to be valued between $20 billion and $25 billion in its IPO. Uber, which has been releasing unaudited financials for several quarters, was said to seek valuation as high as $120 billion for its upcoming IPO, according to The Wall Street Journal.

    Japanese ad-tech company Rakuten stands to see that largest windfall from a successful debut. The company owns 13 percent of Lyft, followed by General Motors' 7.8 percent stake and Fidelity's 7.7 percent stake. Alphabet owns 5.3 percent.

    Authorities Struggle to Catch Fraudulent Uber, Lyft Drivers

    [BAY] Authorities Struggle to Catch Fraudulent Uber, Lyft Drivers
    An NBC Bay Area investigation has exposed that drivers continue to create accounts with stolen information and rent them out to anyone willing to pay. It started with a Lyft account and recently NBC Bay Area was able to rent several Uber accounts. The app history on one account shows cars logged more than 200 trips in just a few weeks. Now Uber is taking what NBC Bay Area uncovered straight to law enforcement. Investigative Reporter Liz Wagner reports in a story that aired on Feb. 12, 2019.
    (Published Wednesday, Feb. 13, 2019)

    This story first appeared on CNBC.com. Get more from CNBC: