Lyft a step closer to be­com­ing pub­lic com­pany

The Standard (St. Catharines) - - Business -

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.

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