Ride-hailing company Lyft could beat Uber to IPO

February 22, 2019

Lyft could launch an initial public offering as soon as next week, The Wall Street Journal reported Wednesday.

The ride-hailing company is expected to list shares on the Nasdaq for its IPO, however, a separate report from Reuters claims Lyft will wait until March 18 to announce its IPO. The company will become the first ride-sharing firm to go public after years of private investment. Rival Uber is said to be weeks behind on its own IPO, which could give Lyft the spotlight in the month to come.

According to the Reuters report, Lyft expects its value to hover around $20 billion and $25 billion. An IPO will likely last for two weeks, sources told the publication. However, the plans are subject to change and it's not clear if next week or the March 18 date will be the company's big stock exchange debut.

READ THIS: Uber, Lyft reportedly filed for IPOs, expect to go public in 2019

The dates correspond with reports from last year that pegged both Lyft and Uber to go public by the end of the first quarter this year. While both stocks will likely cause a buzz on Wall Street, the companies have major hurdles ahead for investors. Neither is profitable. Lyft financials aren't nearly as well known as Uber, but the latter lost $1.07 billion in the third quarter of 2018.

Eventually, both companies have banked on self-driving car technology to reduce operating costs. Self-driving vehicles will take human drivers out of the equation.

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