Lyft aims to beat Uber to stock mar­ket with IPO

The Sun News - - Business -

The ride-hail­ing com­pany Lyft said Thurs­day that it had taken a key step to­ward an ini­tial pub­lic of­fer­ing, con­fi­den­tially fil­ing a draft reg­is­tra­tion state­ment with the Se­cu­ri­ties and Ex­change Com­mis­sion.

The move sets the stage for a busy year of tech­nol­ogy IPOs in 2019, as pri­vately held com­pa­nies known as “uni­corns” be­cause of their high growth and val­u­a­tions get ready to de­but on Wall Street.

Uber, the big­gest ride­hail­ing com­pany in the world, is also plan­ning to go pub­lic next year and has re­ceived pro­pos­als from in­vest­ment banks that say it could be worth as much as $120 bil­lion.

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