Lift is going to make its Nasdaq debut by next week at a valuation close to $23 Billion.
The share value of Lift enhanced by $2 billion in the IPO process.
Lyft recent market valuation is $15 Billion and is expected to enhance up to $20-25 Billion post IPO.
The present era is an innovative era of innovation. Day by day startups with latest technologies and concepts to make life easier are emerging in the market. But only those startups are able to reside in tough competitive markets that have immense passion, innovative approach and huge funds to execute its operations. Lyft a ride-hailing firm is enhancing its market and has issued its IPO to further enhance its business operations.
According to reports of The Wall Street Journal, bike renting and ride-hailing firm Lift is going to make its Nasdaq debut by next week at a valuation close to $23 Billion. The reformed price of the shares will lie between $62 and $68 per share, enhancing approximately $2 billion in the process. In June last year, Lyft was valued $15 Billion after having a fund of $600 Million.
Lyft in December filed paperwork for initial public offering just prior to Uber. The ride-sharing unicorns are in a race to the public markets, fueling a pricing war ahead of their respected IPOs in a bid to impress investors.
Uber has not made its S1 paperwork public but is expected that it will launch its IPO in April. Lyft has not officially priced its shares. Its S-1 filing indicated a $100 million IPO fundraise, which is typically a placeholder amount for companies preparing for a float. Lyft has its market valuation to $15 Billion and is expected to enhance up to $20-25 Billion.
It provides its services in the United States and few cities of Canadian. San Francisco based Lyft has raised $5.1 sum in venture capital funding from various stakeholders including General Motors having 7.76% pre-IPO stake, Alphabet having 5.3% pre-IPO stake, Rakuten a Japanese e-commerce giant boasts a 13% pre-IPO stake and Andreessen Horowitz having 6.23%.
Lyft observed revenue of $2.2 Billion with $8.1 Billion in gross rides booking with losing $911 Million. The company is continuously trying it’s best to raise more and more funds from investing and elaborate its business and services.
Stay connected to us for latest updates!
- Oorja Raises $1.5 Million in Pre-Series A Funding - September 30, 2023
- Dream11 Challenges Rs 18,000 Crore GST Notices, Expects More Amounting to Rs 1 Lakh Crore for Gaming Companies - September 29, 2023
- Startups Create Task Forces to Challenge Google on Billing - September 29, 2023