Ahead Ipo Uber Cfo Wall Street

Ahead ipo uber cfo wall street

Lyft might finally edge ahead of Uber—in the race to go public.

The No.

Ahead ipo uber cfo wall street

2 ride-hail operator has filed confidential paperwork in anticipation of an initial public offering early next year, The Wall Street Journalreported Thursday morning.

Uber, the industry's longtime front-runner, is expected to go public in the second half of next year.

Lyft will be the first to test the public markets for the ride-hail industry, which has shown explosive growth during the past four years.

Lyft was most recently valued at $15 billion. Uber has received proposals from banks interested in its IPO that valued the company at $120 billion.

Ride-hail services are notoriously expensive to operate.

Uber IPO Falls Flat For Wall Street Debut

Neither Uber nor Lyft, both of which take a commission on fares, is profitable.

Both companies are entering a period of business uncertainty. Regulators in New York City, the largest market for ride-hailing, recently imposed regulations, going into effect in January, to set minimum pay standards. The ride-hail operators expect that fares will go up as a result.

Ahead ipo uber cfo wall street

The for-hire vehicles also will be subject to a $2.75-per-ride surcharge on trips that go through the congestion zone in Manhattan, which is below 96th Street. The higher fares combined with the surcharge could have a devastating effect on ridership.

Lyft had revenue of $563 million in the third quarter, up nearly 90% from the year-ago period, and a loss of $254 million, according to the Journal.

Ahead ipo uber cfo wall street

Uber had $2.95 billion in revenue, up 38%, with a $1.07 billion loss.