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Ride-hailing firm Lyft Inc files for IPO

Reuters 

(Reuters) - Ride-hailing company Inc beat bigger rival Technologies in filing for an that will test investor appetite for high-profile but companies.

The company, which was last valued at about $15 billion, did not specify the number of shares it was selling or the price range for the offering in a confidential filing with the SEC.

The IPO is slated for the first half of 2019, sources have told is expected to pursue an IPO next year that could value it at about $120 billion, while home-renting company Airbnb Inc, valued at $31 billion, is also expected to list itself in 2019.

High-profile tech unicorns dominated the U.S. IPO landscape this year. was valued at nearly $13 billion in its March debut, while went public in April with a $26.5 billion valuation.

But the recent turmoil in the financial markets due to escalating trade tensions between the and could dampen investor enthusiasm for the much-awaited tech IPOs.

and Lyft's IPOs are widely seen as a litmus test for investor tolerance for lack of profitability when it comes to

The two companies have taken hits to their bottom lines in order to attract drivers and enter new markets, although they have made strides in recent years in narrowing their losses.

Lyft's IPO is expected to commence after the SEC completes its review process, it said in a press release on Thursday.

reported in October that had chosen JPMorgan Chase & Co, and Jefferies as underwriters for its IPO.

The company was set up in 2012 by and Logan Green, three years after co-founded Uber.

(Reporting By in Bengaluru; Editing by Saumyadeb Chakrabarty)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 19:03 IST
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