Lyft a step closer to becoming public company
SAN FRANCISCO — Lyft, the San Francisco ride-sharing service said Thursday that it confidentially submitted a draft registration statement for an initial public offering of shares with the Securities and Exchange Commission. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The company was valued at just over $15 billion earlier this year. Uber, Lyft’s fiercest competitor, is planning its own IPO next year. Its well documented problems have left it vulnerable to challenger Lyft.