Reuters was first to report that Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion valuation it is seeking. The development indicates that many investors are willing to overlook uncertainty over Lyft’s path to profitability and its strategy for autonomous driving, for fear of missing out on the biggest and most high-profile technology IPO since Snap Inc in 2017.
Reuters first to report Lyft’s IPO oversubscribed on road show’s second day
19 March 2019, 12:00 am 1 minute
Topics of Interest: Politics
Type: Reuters Best