Lyft begins IPO road show, offers 30 million shares to public

Lyft could go public as soon as next week

The No. 2 US ride-hailing company could spell out the price range and number of shares it plans to market in an updated regulatory filing, said the people, who asked not to be identified as the details aren't public. No final decisions have been made and the timing and details of any filing may change.

If Lyft could indeed bring in that much cash from its IPO, it would be the biggest tech IPO in two years, since Snap's IPO in 2017.

Lyft looks like it will be the first U.S. ride-hailing company to go public. But Logan Green and John Zimmer are asking would-be investors to award them essentially permanent control over the company. Uber is planning to kick off its IPO in April, Reuters has reported. The startup hopes to raise a maximum of $2.4 billion from its public debut at a valuation that could reach $23 billion. That's higher than its most recent private market valuation of $15 billion.

More news: Soda, sports drinks tied to higher risk of early death

Their firm grip on the company has been criticized by some investors focused on corporate governance. An app allows users to book taxi rides on their smartphones, with the company usually...

Its executives warned the company could struggle to turn a profit, despite a rapidly growing market share: 39 percent in December 2018, up from 22 percent in December 2016, according to its filing. Lyft released financial details for the first time this month, reporting $2.2 billion in revenue a year ago, more than double its $1.1 billion in revenue in 2017, but also $911 million in losses. It posted a loss of $911 million in 2018 versus $688 million in 2017.

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