Lyft prices IPO at $72 per share: Source.
Lyft's initial public offering of 32.5 million shares was priced at $72 per share on Thursday. This would value the company at over $20 billion and hit the top of its expected range.
div > div.group > p:first-child"> Shares in the ridehailing company are expected to start trading on the Nasdaq on Friday, under the ticker"LYFT." The company faces formidable competition from Uber, according to its S-1 filing released earlier this month. Lyft claimed 39 percent of the U.S. market at the end 2018, up 17 percentage points over two years, it said in the filing.Funded early on by venture firms including Floodgate, K9 Ventures, Mayfield Fund, and Peter Thiel's Founders Fund, Lyft is one of several maturing tech startups expected to go public this year.
Founded by CEO Logan Green and President John Zimmer in 2007, Lyft launched its ride-hailing app in 2012. In its earlier years, Lyft operated a service called Zimride that focused on long-distance, shared car rides and car-sharing programs on college campuses.J.P. Morgan, Credit Suisse and Jefferies are the lead underwriters of the offering.
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