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Ride-hailing firm Lyft is racing to leave Uber behind in going public

Lyft's valuation is likely to end up between $20 billion and $30 billion, a source said


Ride-hailing company Lyft Inc beat bigger rival Uber Technologies Inc in filing for an initial public offering (IPO) on Thursday, defying the recent market jitters and taking the lead on a string of billion-dollar-plus tech companies expected to join Wall Street next year. Lyft's IPO will test investors' appetite for the most highly valued Silicon Valley companies and for the ride-hailing business, which has become a wildly popular service but remains unprofitable and has an uncertain future with the advance of self-driving cars. San Francisco-based Lyft, last valued at ...

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First Published: Fri, December 07 2018. 04:55 IST