Ride-hail firm Lyft launches IPO road show in Uber's shadow

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Lyft Inc on Monday kicked off the investor road show for its initial public offe...

- Lyft Inc on Monday kicked off the investor road show for its initial public offering , seeking to woo money managers before its bigger ride-hailing rival Uber Technologies Inc makes its stock market splash in April.

However, the market rally of the last few years, coupled with the desire of some of these startups’ insiders to cash out, is leading to many technology firms, including Airbnb Inc, Slack Technologies Inc and Stripe Inc, to now plan market debuts. In the filing, Lyft said it plans to sell a little more than 30 million class A shares, which have fewer voting rights than class B shares, at between $62 and $68 per share. The company is scheduled to debut on Nasdaq on March 29 under the symbol “LYFT.”

 

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