Lyft Is Said to Explore I.P.O. as It Raises $1 Billion Led by Alphabet
Lyft Is Said to Explore I.P.O. as It Raises $1 Billion Led by Alphabet
SAN FRANCISCO — In an escalation of its ride-hailing war against Uber, Lyft has begun to explore going public in 2018
and is trying to strengthen its position by raising more capital, including $1 billion in new financing led by an investment arm of Google’s parent company.
To bolster itself ahead of any public offering, Lyft on Thursday said it had raised $1 billion
in financing led by CapitalG, a venture investment arm of Google’s corporate parent, Alphabet.
The new investment further complicates the convoluted web of financial relationships in the ride-hailing industry, where companies like Lyft
and Uber have hauled in enormous amounts of funding from firms that often put money into competing companies.
The two companies are locked in something of a race for which can go public first; whichever company does
will most likely set a benchmark for Wall Street for the valuation of a public ride-hailing company.
Uber has appointed a new chief, Dara Khosrowshahi,
and is now trying to learn from its missteps while pursuing his goal of taking the company public in the next 18 to 36 months.
SAN FRANCISCO — In an escalation of its ride-hailing war against Uber, Lyft has begun to explore going public in 2018
and is trying to strengthen its position by raising more capital, including $1 billion in new financing led by an investment arm of Google’s parent company.
To bolster itself ahead of any public offering, Lyft on Thursday said it had raised $1 billion
in financing led by CapitalG, a venture investment arm of Google’s corporate parent, Alphabet.
The new investment further complicates the convoluted web of financial relationships in the ride-hailing industry, where companies like Lyft
and Uber have hauled in enormous amounts of funding from firms that often put money into competing companies.
The two companies are locked in something of a race for which can go public first; whichever company does
will most likely set a benchmark for Wall Street for the valuation of a public ride-hailing company.
Uber has appointed a new chief, Dara Khosrowshahi,
and is now trying to learn from its missteps while pursuing his goal of taking the company public in the next 18 to 36 months.
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