7 Things You Need to Know About Lyft’s IPO

The IPO season is usually one which can make or break you for life. in Oxnard and most parts of America, Lyft IPO is one of the biggest things around. the ride-sharing company is believed to have set the shares it owns at around the $72 mark and has raised over $2 billion. This has put the total valuation of the business at about $24 billion which is simply astonishing. If you are in awe about the IPO of Lyft, here are a few things you should know about it:

• Lyft made a sharp increase in their share in 2016. Their shares jumped from 22% to about 39% during the periods between 2016 and in 2018. This increase in shares is mostly put down to the discounts which they offered during their rides to their clients and customers.
• The revenue which Lyft got from their services doubled in 2017. In 2017 it was $2.16 billion. However, at the end of 2018, that amount stood at $3.1 billion. This means that their revenue grew by an estimated $1.8 billion.
• The Lyft is believed to eventually become the latest IPO that a startup in America would be able to clinch in the technology sector. The highest so far is the one that was gotten by Facebook.
• In Lyft, there is a dual structure when it comes to shares. A-class shares all are allowed to vote just once. However, the B class shares would be allowed to have 20 votes each. The owners and founders of the Lyft company which are Logan Green and his partner John Zimmer are believed to control half of the entire shares that are allowed to vote.
• The number of people who have had a Lyft ride in their lifetime has been steadily increasing. In 2016, the number stood at 6.6 million. However, by the end of 2018, the number has gone up to about 18 million people.
• If you are an active driver for Lyft, you stand the chance of earning a lot of cash bonuses. These bonuses would be up to $10000. You would also be allowed to purchase shares in the IPO with those bonuses.
• There are all set to invest about 50 million every year through their program city works. This would even affect the Oxnard city in California.

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Content Writer for TFC Title Loans. In business since 1994