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.
VR/AR collaboration platform Spatial is diving head first into the Metaverse. The company is switching up its image--now branding itself as 'the metaverse for cultural events,' aiming to become the new virtual hub for NFT galleries, brand experiences, and large-scale conferences. Jacob Loewenstein, Head of Business, Spatial, joined Cheddar's Opening Bell to discuss the company's pivot.
With the rise of meme stocks, investing platforms like Public.com saw a surge in usership as retail investors flocked to the stock market. Ahead of the new year, Public.com is pushing beyond the memes, to better understand the motivations and behaviors of the retail trader.
Its recent 'The Outsiders' report takes a deeper look at who these retail investors are, what drives their trades, and what their portfolio says about them. Stephen Sikes, COO, Public.com joined Cheddar News to discuss.
Jason Moser, Senior Analyst & Lead Advisor at The Motley Fool, discusses how the meme saga has impacted the stock market and what the future holds for companies embracing retail investors.
The past year has been huge for delivery services as people largely stayed home during the pandemic. Getir, an Istanbul-based company delivering goods in just 10 minutes, is officially launching in NYC. It comes as the company continues its international expansion. Nazim Salur, Founder, Getir, joined Cheddar's Opening Bell to discuss the opportunities in the new market.
e.l.f Beauty is celebrating a significant milestone in its sustainable journey. Since launching its Project Unicorn initiative in 2019, the company has eliminated more than one million pounds of packaging materials. Ashley Rosebrook, e.l.f. Beauty's chief creative officer, who spearheaded this effort and has continued to work to reduce the brand's carbon footprint, joined Cheddar to discuss this initiative and what the company aims to do next.
The great meme stock frenzy of 2021 turned ordinary retail investors into big winners overnight. One of those traders, Jon Murray, is a graphic design artist who made $15,000 off his original investments in GameStop and AMC. He joined Cheddar to talk about how he first got started in investing and why he decided to put money into meme stocks.
The Omicron variant is raising concerns about how safe it is to travel, just as millions of Americans were getting ready to jet set away for the holidays. Scientists are still trying to understand how much protection vaccines offer against the new variant, and many questions remain unanswered. Sara Nelson, President of the Association of Flight Attendants, gives tips on how to travel safely and comments on the aviation industry's ongoing recovery from the pandemic.
Another successful spaceflight is in the books for Jeff Bezos' Blue Origin. The company's third human spaceflight blasted off from Van Horn, TX. on Saturday, lasting about ten minutes from takeoff to landing. The crew, which included former NFL star and current GMA host Michael Strahan, traveled to the edge of space and experienced a few minutes of weightlessness before the capsule descended back to earth. Andrew Chanin, CEO of ProcureAM, joined Cheddar's Opening Bell to discuss the significance of the launch.
Chad Oviatt, Director of Investment Management at Huntington Private Bank, discusses inflationary concerns the Fed is keeping an eye on and what November's lower-than-expected rise in retail sales means for consumer spending.
