From CNN Business' Jordan Valinsky
Lyft users are driving less because they, well, use Lyft. According to its filing:
In 2018, almost half of our riders reported that they use their cars less because of Lyft, and 22% reported that owning a car has become less important.
The company also disclosed that 52% of its customers use Lyft to commute to work, and 35% don't own or lease a car.
From CNN Business' Sara Ashley O'Brien
In a recent interview with CNN's Poppy Harlow, Lyft cofounder John Zimmer reflected on his company's biggest rival: Uber.
Harlow asked Zimmer during the latest episode of Boss Files whether there's anything he admires about Uber, which could reportedly be valued as high as $120 billion when it goes public later this year.
I think I'm going to say 'no,'" Zimmer said. "It would be hard for me to say anything but that."
He also said he wasn't worried about beating Uber to an IPO or vice versa.
"Of all the things that we've faced over the last six years, this is not something I'm concerned about," he said.
From CNN Business' David Goldman
Lyft's losses are growing. The company's annual loss grew by more than a third to nearly $1 billion last year...
...but its sales are rapidly rising too.
From CNN Business' Jordan Valinsky
Lyft's public offering has 29 underwriters including J.P. Morgan, Credit Suisse and Jefferies.
Here's the full list:
The ridesharing service launched using its trademarked fuzzy pink mustaches on the cars it uses. The mustaches are long gone but the company's pink hallmark has been memorialized with the S-1 filing, which is printed on pink paper! That's gotta be a first, right?
From CNN Business' Seth Fiegerman
Investors have waited for years for the long list of high-flying startups with billion-dollar valuations to land on Wall Street. And 2019 is shaping up to bring a stampede of so-called unicorns. Uber, Airbnb, Slack, Pinterest and Postmates are all expected to go public this year.
Lyft's public market debut could prove to be a bellwether for how these companies will be received by investors. In particular, Lyft will almost certainly be viewed as a proxy for what to expect from its chief rival Uber, a much larger business that is widely reported to be seeking a valuation of $120 billion in its IPO.
From CNN Business' Jordan Valinsky
Lyft, the ride-hailing company, filed paperwork on Friday to raise as much as $100 million in its public offering. The amount could change, depending on investor demand.
Its revenue more than doubled last year to nearly $2.2 billion, but losses widened to $911 million last year.
Lyft had more than 30 million riders and 1.9 million drivers last year.