Lyft opens its IPO road show, to offer more than 30M shares

Lyft could go public as soon as next week

No final decisions have been made and the timing and details of any filing may change.

San Francisco based ride hailing Lyft's IPO proposal had also included a disputed dual-class stock structure, in which one class of shareholders would be receiving one vote per share, while another class would get 20 votes per share.

Lyft begins its IPO road show in NY on Monday and Tuesday.

That means its valuation could be somewhere between $21 billion and $23 billion, according to The Wall Street Journal. But Logan Green and John Zimmer are asking would-be investors to award them essentially permanent control over the company. That is much higher than its $15 billion valuation achieved in the middle of 2018-after Lyft's last round of private market financing. Lyft will trade on Nasdaq under the symbol "LYFT".

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Lyft will pitch investors on the simplicity of its business, while Uber is expected to play up its more diversified strategy, according to people familiar with the matter.

Larger rival Uber Technologies is also readying an IPO, with a potential target valuation of up to $120 billion, Reuters has reported.

After Lyft's IPO, Green, the CEO, and Zimmer, the firm's president, will collectively have just shy of 50 percent of the company's voting rights.

The company's executives warned that it could struggle to turn a profit, despite a rapidly growing market share. Lyft released financial details for the first time this month, reporting $2.2 billion in revenue past year, more than double its $1.1 billion in revenue in 2017, but also $911 million in losses.

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