Lyft Releases Its Filing to Go Public, Revealing Financials

The ride-hailing company reported a net loss of $911 million last year, but double the revenue in 2018 than the year before

Lyft released its long-awaited IPO prospectus Friday, revealing company financials for the first time.

The ride-hailing company has been racing competitor Uber to the public markets. It's likely to be among the first of a hefty class of 2019 public offerings. It is seeking to go public on the Nasdaq under the ticker symbol "LYFT."

Here's how the company did in 2018:

  • Net loss: $911 million, an increase of 32 percent from 2017
  • Revenue: $2.2 billion, double the revenue it saw in 2017
  • Bookings: $8.1 billion across more than 1 billion rides

Lyft didn't specify an amount it hopes to raise in the public offering, instead opting for a placeholder amount of $100 million.

Reuters reported earlier that Lyft expects to be valued between $20 billion and $25 billion in its IPO. Uber, which has been releasing unaudited financials for several quarters, was said to seek valuation as high as $120 billion for its upcoming IPO, according to The Wall Street Journal.

Japanese ad-tech company Rakuten stands to see that largest windfall from a successful debut. The company owns 13 percent of Lyft, followed by General Motors' 7.8 percent stake and Fidelity's 7.7 percent stake. Alphabet owns 5.3 percent.

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