Lyft overtakes Uber in filing for an IPO

Ride-hailing company Lyft Inc beat bigger rival Uber in filing for an initial public offering that will test investor appetite for high-profile but loss-making technology companies.

Lyft, which was last valued at about $15 billion (Dh55 billion), did not specify the number of shares it was selling or the price range for the offering in a confidential filing. The IPO is slated for 2019’s first half. Uber is expected to pursue an IPO next year that could value it at about $120 billion. (Reuters)