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Lyft files confidential IPO plans with SEC


Lyft is inching nearer to an preliminary public providing.

Angela Weiss / AFP / Getty Images

Lyft is on the brink of trip the inventory market.

The ride-hailing service on Thursday stated it has confidentially submitted a draft registration assertion with the US Securities and Exchange Commission for an preliminary public providing.

Lyft stated it hasn’t but decided what number of shares will likely be provided or what the worth vary will  be. The IPO is predicted to start after the SEC evaluations the plan, in accordance with Lyft’s statement.

The San Francisco-based firm did not instantly reply to a request for extra particulars.

Founded in 2012, Lyft is one in all best-known ride-hailing services with greater than 1 million drivers within the US and Canada. The firm’s 375.5 million rides final 12 months had been a 130 % improve over 2016.

Lyft rival Uber can also be heading toward an IPO in 2019. In October, Uber was valued at up to $120 billion for an IPO. 

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