Lyft Takes Next Step to Go Public, Registers for IPO
*By Carlo Versano*
Lyft filed for its initial public offering in a confidential registration [statement](http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20181206:nPn2d3W3Ja.) with the Securities and Exchange Commission, it announced in a [press release](https://www.prnewswire.com/news-releases/lyft-announces-confidential-submission-of-draft-registration-statement-for-proposed-initial-public-offering-300761224.html) Thursday morning.
The ride-hailing company said it has not yet determined the number of shares or price range for the IPO.
The company's statement is the first official step in becoming a public company. Lyft had previously lined up the banks, reportedly JPMorgan and Jeffries, that will do the deal. It now must wait for the SEC to complete its review before it can initiate the offering. The company was most recently valued around $15 billion, and a successful float could raise that number.
The IPO is expected to commence in the first half of 2019. Rival Uber also has an IPO in the works, which is sure to eclipse Lyft's valuation when it is priced. Uber has been speculated to be worth as much as $120 billion.
For Lyft, "there's a lot of advantages to going first" said Maya Kosoff of Vanity Fair.
Lyft is closer to profitability than Uber (though neither is there yet), benefits from better PR, and any regulatory changes that stem from Lyft's rollout could affect Uber's valuation, Kosoff noted.
Lyft, which only operates in North America, has sought to diversify from ride-hailing, and recently acquired Motivate, the country's largest bike-share operator. It is also piloting electric scooters in select markets. Uber has made similar moves, though both companies get the lion's share of their revenues from the commissions generated from the car rides users book on their apps.
Ford has seen a record 52-week high for its valuation, hitting more than $100 billion for the first time. The rise in its stocks comes amid its push for more electric vehicles, including the highly anticipated F-150 Lightning pickup, coming this spring.
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Ellen Davis, Executive VP of Industry Engagement at the Consumer Brands Association, joined Wake Up With Cheddar to break down what consumers need to know about how the pandemic and supply chain constraints are affecting the availability of everyday items.
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Markets opened higher on the first trading day of the new year as investors continue to watch inflation and the rapid spread of the omicron variant in the U.S. Frances Newton Stacy, Optimal Capital Dir. of Strategy/Market Analyst joined Cheddar's Opening Bell to discuss.
Markets opened lower this morning as investors rounded out a wild 2021. Jay Hatfield, CEO Infrastructure Capital Advisors, joined Cheddar's Opening Bell to discuss which sectors and industries to watch in the new year.
