After a rallying 2017, Lyft may be considering going public next year. The company has hired Class V Group LLC to advise the process, according to Bloomberg, and is aiming for a March or April listing.
Lyft made major gains in light of Uber’s various struggles. This year, the company grew its marketshare to roughly 30%, bought a bikesharing company, launched self-driving car rides in Las Vegas in partnership with Aptiv, and is simultaneously building its own self-driving car technology.
Still, Lyft is valued at far less than Uber. The companies were most recently valued at $15 billion and $76 billion, respectively. Lyft will always have to worry that investors will be more interested in putting their money into Uber. But going public ahead of Uber allows the company to capitalize on any enthusiasm for the ridehail market as well as its own future potential. If Uber goes public first, investors may be less excited by the offering.
For the moment, Uber is still planning an IPO for the second half of 2019.
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
