Lyft opens up its IPO road show, offers 30 million shares
Lyft officially kicked off the road show for its initial public offering with 30 million shares expected to sell for between $62 and $68 per share.
That would raise more than $2 billion for the San Francisco ride-hailing company, which could be valued between $20 billion and $25 billion eventually.
Lyft has been in a race with Uber to be first to offer its stock to the public.
Lyft released financial details for the first time this month, reporting $2.2 billion in revenue but $911 million in losses. Lyft executives warned that the company could struggle to turn a profit.
The company has lost nearly $3 billion since 2012, but has brought in more than $5 billion in venture capital.