• It has a 39 percent share of the United States ride-sharing market, based on estimates by the Japanese e-commerce company Rakuten, which is an investor in Lyft. • But it has matched its rival’s innovation, by developing self-driving car technology and expanding into short-term bike and scooter rentals. It plans to sell about 35.4 million shares, including the additional shares allotted to the underwriters, at between $62 to $68 a piece. That’s well above the $15.1 billion that private investors valued it at during a financing round in June. At a $23 billion valuation, Lyft’s offering would rank as the fifth largest since the financial crisis, and among the largest ever for American technology start-ups — only Facebook’s I.P.O.

Source: New York Times March 24, 2019 10:52 UTC