Lyft files for $100 million IPO

Updated 4:35 p.m. ET, March 1, 2019
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12:15 p.m. ET, March 1, 2019

Lyft has lost nearly $2.3 billion over 3 years

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...

  • 2018: $911.3 million
  • 2017: $688.3 million
  • 2016: $682.8 million

...but its sales are rapidly rising too.

  • 2018: $2.2 billion
  • 2017: $1.1 billion
  • 2016: $343.3 million
12:15 p.m. ET, March 1, 2019

Lyft has 29 (!) large investors

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:

SEC
SEC

11:59 a.m. ET, March 1, 2019

Lyft filed on pink and blue paper

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?

SEC
SEC

11:57 a.m. ET, March 1, 2019

Lyft's IPO could be a bellwether

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.

Read more from CNN Business' Seth Fiegerman.

11:51 a.m. ET, March 1, 2019

Finally we get a look underneath the hood at Lyft

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.