Ride-share pioneer Lyft is introducing their IPO and stand to bring in over $2 billion when it first becomes public this month. The company plans to sell 30 million class-A shares for an average of $65 each. The company’s value is forecast to reach just under $20 billion, including outstanding shares from previous deals.
Uber, who happens to be Lyft’s biggest competition is also eyeing a public offering this year. Uber and Lyft almost merged companies a few years back, but that deal fell through and the line was drawn in the sand. Uber filed for their IPO the very next day after Lyft applied for theirs.
Lyft founders Logan Green and Josh Zimmer will be the sole owners of any class-B shares in the company, which hold more voting power.
A contributor at Forbes named David Trainer wrote a lengthy article about the Lyft IPO and why the timing might be so bad that you’ll want to steer clear of this tempting IPO. Read more about his perspective here.