Lyft prepares for initial public offering

Lyft prepares for initial public offering

Ride sharing company Lyft has today confidentially submitted a draft registration statement ahead of a proposed initial public offering of its common stock.

The S-1 form was filed with the Securities & Exchange Commission in the United States.

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

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The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions, and will likely take place in the first half of 2019.

Fierce rival Uber Technologies is also expected to list next year, as is accommodation company Airbnb.

Lyft was set up in 2012 by technology entrepreneurs John Zimmer and Logan Green, three years after Travis Kalanick co-founded Uber.

The company was valued at around $15 billion following its last funding round.