Ride-hailing app Lyft filed its initial public offering for $100 million on Friday.
In its filing with the U.S. Securities and Exchange Commission, Lyft released its financial history for the first time. With the public disclosure we now know that for the past three years Lyft has been losing money … a lot of money.
Lyft pulled in revenue of $2.2 billion in 2018, but also recorded a net loss of more than $911 million.
Much bigger competitor Uber is expected to file its IPO later this month or next. Uber could go public with a $90-billion valuation.
This story is developing…