Uber and Lyft Looking at IPO

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CBJ — Both Uber and Lyft have made filings with the U.S. Securities Commission for an initial public offering.

The two largest ride-hailing companies seem to be in a race to become the first one to go public, likely in early 2019.

As the largest ride-hailing service, Uber has potential to become one of the largest initial offerings ever, topping $100 billion US.

San Francisco-based Lyft didn’t say how many shares it would issue or the price of its stock. The company is valued at around $15 billion US.

Lyft was launched in the summer of 2012 by Logan Green and John Zimmer as Zimride, a ride-sharing service between cities shared on Facebook. In 2013, it launched an app and became Lyft.

Uber was founded in 2009 by Travis Kalanick, and has raised almost $20 billion from investors such as Japan’s SoftBank and Toyota.

Uber hasn’t publicly confirmed its IPO plans, and there is no indication yet of the number of shares that might be issued or when it would list.

The largest initial public offering to date was Alibaba Group’s $25 billion listing in 2014.

@CanBizJournal

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