These 8 Lyft investors are taking a big hit on their holdings

Mario Tama/Getty ImagesLyft CEO Logan Green (R) and President John Zimmer (LEFT C) gather before the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California.
  • Ride-sharing app Lyft has suffered through volatile trading since its March initial public offering.
  • Shares have plunged 23% from their IPO price of $US72, with investors recording paper losses.
  • Watch Lyft trade live.

Lyft investors have had a rocky road since the initial public offering on March 29. The ride-sharing company’s shares are down 23%, well below the initial-public-offering price of $US72, wiping nearly $US5 billion off the company’s market cap.

These developments have important implications for the valuation of Uber’s IPO, widely expected to be the largest of 2019. Uber is expecting to go public as early as Friday.

While every Lyft investor who got in ahead of the IPO has seen their Lyft holdings decline in value, Markets Insider picked out eight to highlight.

To be clear, it is unclear at what price these investors originally purchased shares, and some or all could still be up significantly on their original investment. Also, these are paper losses, and Lyft’s shares could yet rebound.


Rakuten

Description: Largest Japanese e-commerce and internet company

Shares: 31.4 million

Stake: 11.5%

Paper loss since IPO: $US518 million


General Motors

Bill Pugliano/Getty Images

Description: Largest US auto manufacturer, selling 3 million vehicles in 2018.

Shares: 18.7 million

Stake: 6.8%

Paper loss since IPO: $US308 million


Fidelity

Description: Largest privately held mutual-fund company, managing $US2.5 trillion.

Shares: 18.5 million

Stake: 6.8%

Paper loss since IPO: $US305 million


Andreessen Horowitz

Description: Venture-capital firm started by Marc Andreessen, a co-founder of Netscape

Shares: 15.0 million

Stake: 5.5%

Paper loss since IPO: $US248 million


Alphabet / Google

Description: The world’s leading search engine with a market cap of $US815 billion

Shares: 12.6 million

Stake: 4.6%

Paper loss since IPO: $US208 million


Logan Green

Noam Galai/Getty

Description: Lyft co-founder and CEO

Shares: 9.8 million

Stake: 3.3%

Paper loss since IPO: $US162 million


John Zimmer

Description: co-founder and president of Lyft

Shares: 7.2 million

Stake: 2.6%

Paper loss since IPO: $US119 million


Valerie Jarrett

Bryan Bedder/Getty Images

Description: Lyft board member and former senior adviser to President Obama

Shares: 20,000

Stake: 0.01%

Paper loss since IPO: $US330,000


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