Briefing

Lyft files IPO documents with U.S. securities regulator

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Lyft announced Thursday that it had filed the necessary introductory paperwork with the U.S. Securities and Exchange Commission (SEC). The IPO is expected to be in the first half of 2019; Lyft did not provide further details, saying it would only take place upon the SEC’s review. (Financial Times)

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Talking point: Lyft didn’t disclose how many shares it would offer, nor did it give a possible price range. It’s currently valued at an estimated US$15 billion. Uber, Lyft’s biggest rival, has said it intends to IPO sometime in 2019, but has yet to file paperwork with the SEC. Both Uber and Lyft’s listings are expected to be among the technology sector’s biggest in years; large investments have allowed them and other “unicorns” to delay going public for longer than previous generations. According to investors and sources close to both companies, Lyft going public first will allow it to be judged on its own, instead of as a direct comparison to Uber. However, it will still be looking at a similar pool of investors—some of whom may be waiting for the larger ride-sharing company’s debut.