This Friday Lyft is to debut in the Stock Market of Wall Street. This is an immense change in the dimensions of the first bumps and pink mustache’s world. According to the pieces of information gathered, the San-Francisco situated company –Lyft is to make its entry to the market with a share price of 72 dollars each.
John Zimmer and Logan Green are the co-founders of Lyft, who plan on cutting the opening ribbon on Nasdaq Stock Exchange. The Company’s shares will be listed under the ticket name LYFT. Although the company has made an estimation of 15 billion dollars, it seems Initial Public Offering (IPO) will give Lyft a valuation of 5 billion dollars more than the estimated amount.
Among the many expected public services, Lyft is the first company to make its debut in the Stock Exchange. If the outcome of this debut works as planned many other technology companies like –Uber, Pinterest, Palantir, Airbnb, and Slack will enter the Bond Market in the year 2019.
Though Uber and Lyft both provide the services in the common territory that is to book your ride with the help of your smartphone, but have a very different outline. Uber is a company that functions on a global level and is involved in diverse projects like flying cars and food delivery services other than just hailing a ride.
Whereas, Lyft is a company that focuses on a narrower spectrum and its services are only available in the States of America and Canada. Lyft has tried maintaining its stance in the market, unlike Uber which faced much turmoil in the past years.
The co-founders of the Lyft Company first inaugurated it under the moniker Bounder Web in the year 2007. In 2008 they changed their name to Zimride, followed by Lyft in 2012. Their strategy, in the beginning, was to establish a user-friendly image so the hailing cars wore big furry pink mustaches on their front bumpers.
Zimmer and Green both wrote a note saying that people initially took their idea of riding in other’s personal vehicle completely absurd, it is when the one billion grade was crossed Lyft started to be a pioneer in hailing car ride industry.
Lyft is not going to keep its shareholder in the dark; this is the very reason the co-founders of the Company stated that Lyft has suffered a net loss in the history and they do not guarantee on maintaining a complete net profit throughout.