Ride-hailing company Lyft is reportedly planning to go public around March 18, according to a report on Reuters.
The company had already filed for its IPO (initial public offering) last December with the US Securities and Exchange Commission and will be making its shares in NASDAQ.
Meanwhile, its bigger rival Uber Technologies is also filing for IPO applications, but according to some sources, it still needs several weeks to prepare, which could potentially sway investors in Lyft’s direction instead. Currently, Lyft is expected to be valued at around $20 billion to $25 billion.
Ride-hailing apps are on the rise, attracting many investors in the business world. Many people enjoy using these services, especially those who are willing to spend a bit more money for convenience and additional measures of safety and security. According to a 2018 study by Pew Research Center, 36% of Americans have already used ride-hailing apps, including Lyft and Uber. Only 3% claimed not to have heard of them.
If ever, Lyft will be the first-ever US-based ride-hailing company to offer its shares in the stock market. Another ride-hailing company, Yandex.Taxi, is looking to go public this year. Yandex.Taxi is Russia’s biggest and most well-known ride-hailing service and is partly owned by Uber.
