Lyft losses grow ahead of $25bn flotation

Revealed Lyft, the company that tracks the leadership, it did not make a profit before the initial public offering (IPO), which can be estimated value of the company between twenty and twenty five billion dollars.

The company competes with rival Uber for the largest competition to list its shares.

In the prospectus, Lift detailed financial statements for the first time published, indicating that while revenue rose to two.2 billion in two018, losses grew to 911.3 million dollars.

He will join NASDAQ in New York and his stock market code will be Lyft.

Lyft is currently valued at fifteen billion dollars, just seven years after its founding by technological entrepreneurs John Zimmer and Logan Green.

According to Reuters, Lyft will launch its road program at eighteen in March, where the company will meet with potential investors to raise demand for its stake
Both the company and Uber had filed a complete confidentiality of the IPO with the US Securities and Exchange Commission in December, but Lyft was the first to announce the documents.

Show that Lift achieved sales of $ 343.3 million in 2016 which grew to $ 1.1 billion the following year before doubling in 2018.

However, losses increased from $ 682.8 million in 2016 to $ 688.3 million in the following year and $ 911.3 million in the past twelve months.

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