Deals
Lyft Touts Growth for IPO as Losses Near $1 Billion
- Revenue doubled to $2.2 billion in 2018 as losses swelled
- Ride-hailing firm filed to list Nasdaq under the ticker ‘LYFT’
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Potential investors in Lyft Inc.’s initial public offering got their first look at the company’s financials Friday, revealing a startup that’s hustling to outrun its growing losses.
Lyft’s revenue is exploding, but so is its net loss. Like many IPO candidates the San Francisco-based company has never turned a profit. The U.S. ride-hailing No. 2 lost $911 million in 2018 -- up 32 percent from the year before, even as revenue for the same period doubled.