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Lyft founders to tighten grip with supervoting shares in IPO: WSJ


(Reuters) - Inc founders are preparing to take near-majority voting control of the ride-hailing company when it goes public this year, reported on Tuesday, citing sources familiar with the matter.

The founders, and Logan Green, together own a stake of less than 10 percent in

Zimmer and Green, who serve as respectively, are working with underwriters and lawyers on a plan to create a class of shares with extra votes that they will hold, the report said.

is also expected to appoint one of its existing board members as non-executive chairman, the WSJ reported.

A Lyft declined to comment.

(Reporting by in Bengaluru)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 19:43 IST