That would raise more than $2 billion for the San Francisco ride-hailing company, which could be valued between $20 billion and $25 billion US eventually. Lyft and Uber have raced to be first with an IPO, and Lyft's rival is expected to offer shares in the coming weeks. Lyft released financial details about the company for the first time this month, reporting $2.2 billion US in revenue last year, more than double its $1.1 billion in revenue in 2017, but also $911 million in losses. Lyft has lost nearly $3 billion since 2012, but has brought in more than $5 billion in venture capital. The $2.2 billion in revenue for 2018 was about double what it brought in the previous year.

Source: CBC News March 18, 2019 13:52 UTC