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.
Markets opened higher as investors react to positive data on the labor front, with weekly jobless claims falling to 198,000 for the week ending December 25. Ross Mayfield, investment strategy analyst at Baird joined Cheddar's Opening Bell to discuss the market open.
Brian Jacobsen, Multi-Asset Solutions at Wells Fargo Asset Management, provides insight on the Financial sector as interest rates are expected to rise and discusses the factors impacting growth in consumer spending.
Greg Swenson, Founding Partner at Brigg Macadam, breaks down how government reaction is trickling down into the markets and why Fiannaials should be in focus in January.
Jay Pestrichelli, CEO of ZEGA Financial, discusses the industries seeing more volatility due to COVID-19 and areas investors can hedge rising inflation.
Dave Ellison, Portfolio Manager at Hennessy Funds, talks about the effect less liquidity in the market has on economic growth and breaks down how the financial sector and small businesses could grow during these conditions.
Sky Harbour, a company developing private aviation infrastructure, is gearing up to land on Wall Street. The company announced plans to go public through a SPAC deal with Yellowstone Acquisition Company, valuing the combined venture at $777 million. The company will trade on the New York Stock Exchange as $SKYH.
Dish Network is reportedly in discussions to merge with DirecTV. According to the NY Post, the two sides are currently 'trying to iron out the details.' The competitors have had talks in the past -- over the course of the past 20 years, but those talks been halted by the DOJ over antitrust concerns. Lydia Moynihan, Business Reporter, NY Post joined Cheddar's Opening Bell to discuss.
