Lyft: Is The Ride Share Company Ready For An IPO?

Lyft is in a race against Uber to become the first publicly-traded rideshare company. Starting the week of March 18, Lyft will woo investors as it looks to gain momentum for its own initial public offering (IPO), Reuters reported.

The move by Lyft will allow it to gain investor attention without worrying about Uber’s presence as the San Francisco-headquarter rideshare giant still needs more time to prepare for an IPO send-off, CNBC reports.

Lyft is reported to have a market share of almost 40 percent, which is up from the 35 percent it reached in 2018, according to Reuters. The company is expecting a valuation of $20 to $25 billion in its IPO, sources told CNBC.

The company’s search for investors is expected to last for about two weeks, which is subject to change and market conditions.

Lyft has made strong headway as of recently by focusing on smaller and midsized cities. Today, it serves more than 600 cities in the U.S. and Canada, up three times the number of cities it served in early 2017.

Making Lyft a public filing could come as early as next week as Dow Jones reported it is already planning on listing its shares on Nasdaq.