Deals
Lyft Tells Investors It Will Rein in Spending in 2020
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One of the most persistent questions for Lyft Inc. as it markets an initial public offering to investors is how it expects to keep operating at a significant loss. On Thursday, Lyft told a roomful of potential shareholders to expect expenses to decline next year, according to people who were present.
Lyft executives answered questions at an event for investors in New York. They said 2019 would be a peak year for investment, said attendees, including Shawn Kim, a financial analyst for Gabelli Funds. Lyft said the IPO, which is seeking to raise as much as $2.1 billion, should provide all the capital the business will need to operate.