Uber and Lyft are looking to launch IPOs in 2019

Uber and Lyft have long competed for passengers and drivers in the US. But next year, the ride-hailing apps’ rivalry is set to expand to a new venue: the public markets. The San Francisco-based rivals are both looking to launch initial public offerings in 2019. Their listings will be among the biggest the technology sector has seen in years, and mark the next stage for a group of high-flying Silicon Valley companies that have achieved huge valuations from private investors. Speculation about when both Uber and Lyft would go public has swirled for years, but their founders have resisted rushing to IPOs… An abundance of private capital has enabled Uber, Lyft and other Silicon Valley “unicorns” to stay private for much longer than previous hot start-ups. But investors are now keen for returns and public listings offer a new opportunity to raise money to fund what both Lyft and Uber see as critical next stages of growth. Lyft is targeting an IPO as early as March or April… But Uber will not be far behind… Lyft was valued at $15 billion in its latest fundraising, a $600 million round led by Fidelity in June. Uber secured a $500 million investment from Toyota this month at a $76 billion valuation.

 

Shannon Bond and Nicole Bullock

 

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