In its filing with the U.S. Securities and Exchange
Commission for an IPO through which it plans to raise up to $100 million, Lyft
reported a 39% share of the U.S. ride-hailing market as of last December.
It also reported 30 million riders in 2018 and rapidly
growing revenue over the past three years: $343.3 million in 2016, $1.1 billion
in 2017 and $2.2 billion in 2018. Costs also have grown rapidly, however, and
Lyft's net loss in 2018 was $911.3 million.
In the filing, Lyft indicated those losses are likely to
"Our expenses will likely increase in the future as we
develop and launch new offerings and platform features expand in existing and
new markets, increase our sales and marketing efforts and continue to invest in
our platform," according to the filing. "These efforts may be costlier
than we expect and may not result in increased revenue or growth in our
Lyft likely will start trading on the Nasdaq in April,
according to media reports. Rival Uber also is preparing for an IPO.
Source: Business Travel News