Ride-hailing service Lyft will be the first of the big U.S. brands to test their model on the public financial markets.

The company filed for an initial public offering with the Securities and Exchange Commission on Thursday.

It has not disclosed how many shares it is attempting to sell or the price range of the offer.

Reuters claims the company is looking to list during the first half of 2019.

Barring a speedier action by its arch rival, Lyft's IPO would be available to investors ahead of the widely expected move to the public markets by Uber, also expected in 2019.

The IPO process and roadshow is expected to begin after the SEC has completed its statutory review process.

To date, Lyft has raised $4.9 billion in funding -- some $19 billion less than Uber.

The company has made a concerted attempt during 2019 to shift gears into other areas, pushing hard with its business travel unit and also buying into bike-sharing business Motivate.

It has been a similarly busy 12 months for the ride-hailing sector generally, with a string of major funding moves and regional consolidation.

Asia-Pacific giant Grab secured a $1 billion investment from Toyota in June (plus $200 million from Booking Holdings in October), Chinese brand Didi brought in a mammoth $4 billion round in December 2017, and Uber scaled back its operations in the same region, conceding ground to Grab.

At the more modest end of the spectrum, Getaround nailed $300 million in August.
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Source: Phocuswire

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