Techlife News - - Front Page -

Lyft is an­other step closer to be­com­ing a pub­licly traded com­pany.

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. It’s well doc­u­mented problems have left it vul­ner­a­ble to chal­lenger Lyft.

Uber’s at­tempt to de­velop self-driv­ing cars have also been bogged down dur­ing the past year amid al­le­ga­tions that it stole tech­nol­ogy from a Google spinoff, as well as a fa­tal col­li­sion in­volv­ing one of its ro­botic cars.

Both com­pa­nies have been diver­si­fy­ing in an at­tempt to pro­vide what­ever sort of trans­porta­tion peo­ple might want.

Last month, Lyft com­pleted its ac­qui­si­tion of Mo­ti­vate, the na­tion’s largest bike-shar­ing com­pany. Uber ac­quired bike-shar­ing com­pany Jump Bikes ear­lier this year. Uber also in­vested in Lime, a bike and scooter-shar­ing com­pany.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.