- A flurry of news reports Wednesday said Lyft is almost ready to begin the IPO process.
- The ride-hailing firm could make its confidential filing public as early as next week, with a road-show beginning in March.
- Beating Uber to public markets could be huge for the smaller rival, experts have told Business Insider.
Both Bloomberg and the Wall Street Journal reported the company was planning to make its confidential filing with US regulators public as soon as next week, with a roadshow beginning the week of March 18. A separate Reuters report on Wednesday also noted the roadshow date for that week. All of the reports cited anonymous sources.
The company plans to start trading in early April, sources told the New York Times.
A Lyft spokesperson declined to comment.
If the three reports pan out, Lyft could easily beat its larger rival Uber to going public. Being first could be a huge advantage, experts have told Business Insider, especially given that no similar companies are currently listed on public markets. One analyst says the most apt comparisons right now are Etsy and Alibaba, as platform companies.
As a private company, Lyft has hit a valuation of $US15 billion. That could increase as high as $US30 billion, according to Bloomberg, still much smaller than Uber’s $US72 billion valuation, according to PitchBook data.
WSJ also reported that Lyft had chosen Nasdaq to list its shares. That could be a key victory for the uptown exchange, which missed out on several high-profile offerings that chose the New York Stock Exchange, including Spotify and Snap. Nasdaq did not respond to a request for comment from Business Insider.
According to Bloomberg, Lyft has enlisted JPMorgan and Jefferies to help with the offering. Business Insider has confirmed that Credit Suisse is also involved.
Business Insider Emails & Alerts
Site highlights each day to your inbox.