The IPO market has been heating up in recent weeks, with both Lyft and Pinterest filing their IPO plans with the Securities and Exchange Commission. Lyft’s IPO is set for Friday, and its biggest rival, Uber, is expected to go public sometime in April.
All of these companies are already key players in their respective industries, and there’s no doubt potential investors have been eyeing them for quite some time. If you’re interested in investing in Uber, Lyft, or Pinterest, here are some of the key facts you need to know.
Lyft’s IPO is here
Lyft will go public on Friday, listed on the Nasdaq exchange with the ticker symbol LYFT. The company is hoping to raise $2.5 billion from the offering and is expected to list its shares at between $70 and $72. With the IPO, Lyft’s valuation will be north of $20 billion.
The company has 30 million riders, and its business operates in the U.S. and Canada. While smaller than its rival Uber, Lyft still holds an impressive 39% of the U.S. ride-sharing market. The company’s active riders also grew by 47% year over year in the fourth quarter of 2018.
Lyft had sales of $2.2 billion in 2018, up from $1.1 billion in 2017. Not only have sales doubled year over year, but the company’s revenue per user popped 33% in the fourth quarter of 2018, to $36.04. The company managed $8.1 billion in bookings last year, up from just $1.9 billion two years ago.