Lyft (LYFT) expects to raise $0 in an initial public offering on the week of March 18th, IPO Scoop reports. The company will be issuing 0 shares at a price of $0.00 per share.
In the last 12 months, Lyft generated $2.2 billion in revenue and had a net loss of $911.3 million.
J.P. Morgan, Credit Suisse and Jefferies acted as the underwriters for the IPO and UBS Securities, Stifel, Nicolaus, RBC Capital Markets, KeyBanc Capital Markets, Cowen and Company, Raymond James & Associates, Canaccord Genuity, Evercore Group, Piper Jaffray, JMP Securities, Wells Fargo Securities, KKR Capital Markets, Academy Securities, Blaylock Van, Penserra Securities, Siebert Cisneros Shank, The Williams Capital Group, CastleOak Securities, C.L. King & Associates, Drexel Hamilton, Great Pacific Securities, Loop Capital Markets, Mischler Financial Group, Samuel A. Ramirez, R. Seelaus and Tigress Financial Partners were co-managers.
Lyft provided the following description of their company for its IPO: “Lyft started a movement to revolutionize transportation. In 2012, we launched our peer-to-peer marketplace for on-demand ridesharing and have continued to pioneer innovations aligned with our mission. Today, Lyft is one of the largest and fastest-growing multimodal transportation networks in the United States and Canada. To date, we have facilitated over one billion rides. “.