Lyft will IPO on Friday with an insane $24.3 billion valuation

Next week, insurgent ridesharing provider Lyft will commence its long-awaited initial public offering (IPO). An IPO marks the point when a company makes its shares available on a public stock exchange, and Lyft is releasing 32.5 million shares costing $72 apiece. That values the company at a cool $24.3 billion. Lyft plans to list on the NASDAQ stock exchange. As you’d expect, it will likely use the LYFT ticker. The ridesharing market is notoriously competitive, and there’s no shortage of historical bad blood between Lyft and its bigger rival, Uber. It’s therefore likely a huge point of pride for Lyft…

This story continues at The Next Web

from LatestTechyTalks