, Columnist
The IPO Race for Uber and Lyft Isn’t Against Each Other
The urgency is about deteriorating economic and market conditions, not competition.
No need for a checkered flag.
Photographer: John Taggart/BloombergThis article is for subscribers only.
By all means, rush. But there’s no need for a race.
Last week, Lyft Inc. said it had filed the first draft of paperwork for its planned initial public offering. It has been clear for some time that Lyft — in contrast with its larger rival Uber Technologies Inc. — was speeding to hit the stock market perhaps by early 2019. But then it emerged that Uber had recently filed its own draft IPO document, which will remain confidential while the company solicits feedback from securities regulators.