Lyft, a ride-hailing platform, is supposed to launch the investor roadshow for its first public offering this week. The firm is trying to raise almost $2 Billion and to wants be valued at over $20 Billion, as per people known with the subject. Lyft is supposed to be seeking to encourage financiers to make big commitments to its IPO, rather than propose for its bigger competitor Uber Technologies. Reportedly, Uber is planning to introduce its own public offering in the upcoming month.
Lyft is supposed to meet with shareholders across the U.S. ahead of pricing the IPO and listing on the NASDAQ at the end of the month, according to the sources. The firm will be positioning itself as a more aimed at ride-hailing and set apart itself from Uber. Reportedly, Uber has expanded itself to areas such as freight hauling and food delivery, and developed around the world.
On a similar note, Uber came into the news owing to its high hopes for a custom scooter it intends to introduce later this year. According to the firm, this scooter will be more durable, comfortable, and more critical to vandalize. Michael Beckman, Head of Scooters, Uber, proclaimed that the firm believes, scooters are a part of the potential way public gets around city centers. He added that both electric bikes and scooters will get a huge business in the upcoming period.
After being a successful ride-hailing firm, Uber has placed a huge bet on scooters as it hunts for additional sources of development to its expected preliminary public offering later this year. But the firm holds numerous challenges ahead. Uber will have to show that it can turn revenue with scooters, a huge challenge for other firms that rent them. The firm as well has to stand out in a packed field that includes scooter pioneers such as Bird and Lyft.