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Lyft beats Uber in race to file for an IPO

Rex Crum, The Mercury News on

Published in Business News

In the race between the two largest ride-sharing companies to be the first to go public, Lyft has gotten off the starting line before its top rival, Uber.

On Thursday, Lyft said it had filed the introductory paperwork necessary with the Securities and Exchange Commission for an initial public stock offering. While the IPO is expected to take place during the first half of 2019, Lyft was light on details about the matter, saying that the IPO would take place only after the SEC completes its review process.

Lyft also didn't disclose any information about how many shares it may offer, or a possible price range for the stock ahead of the IPO. The company is estimated to be valued at $15 billion.

Lyft's main competitor, Uber, has said it intends to go public sometime in 2019, but it has yet to file any official paperwork with the SEC. Both companies IPOs are expected to draw wide attention from investors.

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