Uber’s European rival Bolt launches in London

Uber’s European rival Bolt is now taking it on in the streets of London. The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area. Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London


Uber’s European rival Bolt is now taking it on in the streets of London. The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area. Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London
Uber’s European rival Bolt launches in London Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, launch, european, bolt, villig, ridehailing, uber, vehicles, company, london, ubers, uks, rival, launches


Uber's European rival Bolt launches in London

Uber’s European rival Bolt is now taking it on in the streets of London.

The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area.

“We see this as quite a monumental thing for both the company and the ride-hailing industry as a whole,” Bolt CEO Markus Villig told CNBC in an interview. “London is one of the biggest, most profitable markets for Uber globally and one where it didn’t have a serious competitor.”

Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London as of March 2018, according to the Department for Transport.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, launch, european, bolt, villig, ridehailing, uber, vehicles, company, london, ubers, uks, rival, launches


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Buy Uber because it will be a leader in the coming ‘offline era,’ Raymond James says

Uber is strongly positioned for the coming “offline era” of internet, according to Raymond James. “In contrast to traditional Internet companies, Uber is a digital app powering offline behavior,” he said. However, he said, internet businesses are increasingly shifting to offline from online, and Uber has capitalized on that early, which creates a better long term strategy. Raymond James initiated coverage of the stock with an outperform rating and a target price of $50. Uber’s stock is down abou


Uber is strongly positioned for the coming “offline era” of internet, according to Raymond James. “In contrast to traditional Internet companies, Uber is a digital app powering offline behavior,” he said. However, he said, internet businesses are increasingly shifting to offline from online, and Uber has capitalized on that early, which creates a better long term strategy. Raymond James initiated coverage of the stock with an outperform rating and a target price of $50. Uber’s stock is down abou
Buy Uber because it will be a leader in the coming ‘offline era,’ Raymond James says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, coming, era, ridehailing, raymond, internet, james, buy, growth, uber, offline, leader, stock, ubers, transportation, york


Buy Uber because it will be a leader in the coming 'offline era,' Raymond James says

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks on a webcast during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 10, 2019.

Uber is strongly positioned for the coming “offline era” of internet, according to Raymond James.

With 93 million monthly active platform customers globally using Uber’s “offline app” for transportation and food delivery, the ride-hailing company can attain 25% revenue growth over the next five years, Raymond James analyst Justin Patterson said in a note to clients Wednesday.

“In contrast to traditional Internet companies, Uber is a digital app powering offline behavior,” he said. “This elevates cost in the early years, but arguably creates a more defensible long-term position.”

Investors’ biggest concern since Uber’s initial public offering last month is its path to profitability. Patterson recognizes that the company’s shares have been pressured on these “reasonable concerns.” However, he said, internet businesses are increasingly shifting to offline from online, and Uber has capitalized on that early, which creates a better long term strategy.

Patterson said Uber’s end-market penetration is less than 1% globally.

“Considering Amazon and Booking sustained 20%+ growth in markets that were more penetrated, we see ample room for outsized growth, ” he said, referring to the parent company of booking.com, Kayak and OpenTable.

Patterson said that with Uber’s market share across transportation, delivery and freight, its growth will accelerate and the competition will “rationalize” over the next 12 months. Investors currently consider the ride-hailing industry to be a duopoly with rival Lyft.

Raymond James initiated coverage of the stock with an outperform rating and a target price of $50.

Uber’s stock is down about 5% since its market debut at the New York Stock Exchange last month. The stock has rallied over 5% in the first days of June.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, coming, era, ridehailing, raymond, internet, james, buy, growth, uber, offline, leader, stock, ubers, transportation, york


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Europe’s ride-sharing unicorns call for reform to help the sector thrive

Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify. PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation. “I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Pari


Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify. PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation. “I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Pari
Europe’s ride-sharing unicorns call for reform to help the sector thrive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ryan browne
Keywords: news, cnbc, companies, unicorns, europes, help, transport, villig, think, reform, thrive, ridehailing, bolt, sector, ridesharing, cofounder, operate, spain


Europe's ride-sharing unicorns call for reform to help the sector thrive

Martin Villig, co-founder of ride-hailing firm Bolt, which was formerly known as Taxify.

PARIS — Ride-sharing giants in Europe have urged reforms for the transport industry, in the hope that it will help them expand further within the continent and face less barriers to innovation.

Co-founders from two of the region’s largest mobility firms, BlaBlaCar and Bolt — formerly Taxify — said the lack of a common framework on carpooling and ride-hailing makes it more difficult to operate across the European Union.

The main issue is that the EU, though a collective bloc of 28 — or soon to be 27 — nations, does not have a unified “definition” of what it means to be a ride-sharing start-up, and therefore this creates a fragmentation among the different member states.

“I think it would help even in our industry if there would be some kind of harmonization of the transport regulations,” Bolt co-founder Martin Villig told CNBC in an interview at the Viva Technology conference in Paris.

The firm has been barred from entering countries like Germany, Italy, Spain and Denmark, Villig said, because those territories do not yet permit transportation start-ups to operate freely. In Spain, for instance, firms like Uber and Spanish company Cabify have faced a local pushback due to discontent in the traditional taxi industry.

“I think that there is a big opportunity to open that market,” Bolt’s co-founder said of untapped markets like Germany and Spain, adding that “giving some general harmonization guidelines from a European level” would help, “and then maybe some smaller details can be handled.”


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ryan browne
Keywords: news, cnbc, companies, unicorns, europes, help, transport, villig, think, reform, thrive, ridehailing, bolt, sector, ridesharing, cofounder, operate, spain


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Profits in Uber’s core ride-hailing are an ‘Everest uphill battle,’ analyst warns ahead of the IPO

Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday. Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight. 1 player” in


Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday. Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight. 1 player” in
Profits in Uber’s core ride-hailing are an ‘Everest uphill battle,’ analyst warns ahead of the IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, uphill, core, ipo, uber, everest, ubers, lyft, driving, ives, white, warns, offering, analyst, battle, profits, service, ridehailing, amazon


Profits in Uber's core ride-hailing are an 'Everest uphill battle,' analyst warns ahead of the IPO

Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday.

In initiating coverage ahead of this month’s initial public offering, Ives argued that Uber will need to set itself apart from rival rail-hailing services like Lyft in order to satisfy investors.

Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight.

Uber is offering 180 million shares at $44 to $50 apiece. On a fully diluted basis, its valuation could top $91.5 billion, making it the biggest public offering since Alibaba. Lyft debuted on Wall Street in late March, gaining about 8% on its IPO day. Since then, Lyft shares as of Tuesday were about 18% below their $72 offering price.

Ives said Uber has established itself has the “clear No. 1 player” in rides, estimating its core driving service is worth about $75 billion. He expects the service could make a profit in five to seven years. “What you’re really trying to do is put more of a fence around your backyard in terms of Uber versus a Lyft,” he said in a “Squawk Box ” interview. However, he added that investors want to see whether Uber goes beyond rides and becomes the “Amazon of transportation” by locking in consumers through its other services.

Like Amazon, Uber has prided itself on diversifying beyond its core driving service for which it’s best known. According to a New York Times report, Uber has been comparing itself to Amazon during its pre-IPO roadshow to justify its losses as it expands. For years, Amazon plowed all the money it made back into the business on the promise of future success, which did in fact happen for the e-commerce giant.

Tom White, a senior research analyst at D.A. Davidson, is “resisting” the narrative that Uber can be the next Amazon. White, speaking in the same CNBC interview as Ives, said he does not see an opportunity for huge diversification in transportation as there is in retail.

“With Amazon, it was pretty clear early on it was a drastically better consumer experience when it came to buying things online,” said White, who started coverage with a neutral rating on Uber and a $53 per-share price target.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, uphill, core, ipo, uber, everest, ubers, lyft, driving, ives, white, warns, offering, analyst, battle, profits, service, ridehailing, amazon


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Profits in Uber’s core ride-hailing are an ‘Everest uphill battle,’ analyst warns ahead of the IPO

Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday. Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight. 1 player” in


Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday. Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight. 1 player” in
Profits in Uber’s core ride-hailing are an ‘Everest uphill battle,’ analyst warns ahead of the IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, ipo, amazon, driving, core, analyst, white, ridehailing, ives, uphill, ubers, battle, offering, lyft, profits, warns, uber, everest, service


Profits in Uber's core ride-hailing are an 'Everest uphill battle,' analyst warns ahead of the IPO

Uber will have a hard time making a profit in its core driving business at least in the near term, Wedbush Securities analyst Dan Ives said Thursday.

In initiating coverage ahead of this month’s initial public offering, Ives argued that Uber will need to set itself apart from rival rail-hailing services like Lyft in order to satisfy investors.

Profitability at Uber’s standard driving service is going to be “an Everest uphill battle,” said Ives, whose firm put an outperform rating on the company with a price target of $65 per share. Instead, he said Uber’s growth will come from its other ventures such as its Uber Eats food delivery service and shipping platform Uber Freight.

Uber is offering 180 million shares at $44 to $50 apiece. On a fully diluted basis, its valuation could top $91.5 billion, making it the biggest public offering since Alibaba. Lyft debuted on Wall Street in late March, gaining about 8% on its IPO day. Since then, Lyft shares as of Tuesday were about 18% below their $72 offering price.

Ives said Uber has established itself has the “clear No. 1 player” in rides, estimating its core driving service is worth about $75 billion. He expects the service could make a profit in five to seven years. “What you’re really trying to do is put more of a fence around your backyard in terms of Uber versus a Lyft,” he said in a “Squawk Box ” interview. However, he added that investors want to see whether Uber goes beyond rides and becomes the “Amazon of transportation” by locking in consumers through its other services.

Like Amazon, Uber has prided itself on diversifying beyond its core driving service for which it’s best known. According to a New York Times report, Uber has been comparing itself to Amazon during its pre-IPO roadshow to justify its losses as it expands. For years, Amazon plowed all the money it made back into the business on the promise of future success, which did in fact happen for the e-commerce giant.

Tom White, a senior research analyst at D.A. Davidson, is “resisting” the narrative that Uber can be the next Amazon. White, speaking in the same CNBC interview as Ives, said he does not see an opportunity for huge diversification in transportation as there is in retail.

“With Amazon, it was pretty clear early on it was a drastically better consumer experience when it came to buying things online,” said White, who started coverage with a neutral rating on Uber and a $53 per-share price target.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, ipo, amazon, driving, core, analyst, white, ridehailing, ives, uphill, ubers, battle, offering, lyft, profits, warns, uber, everest, service


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Uber quizzed on growth at IPO roadshow in London

Uber Technologies Inc Chief Executive Dara Khosrowshahi sought to persuade money managers in London that the loss-making ride hailing firm’s growth plans justified a valuation of up to $91.5 billion in an initial public offering (IPO). “It’s going to be much more difficult and cumbersome to extract profitability,” said another investor who attended the roadshow. Lyft was the first U.S. ride-hailing company to go public and one challenge investors grappled with was how to value a company with no


Uber Technologies Inc Chief Executive Dara Khosrowshahi sought to persuade money managers in London that the loss-making ride hailing firm’s growth plans justified a valuation of up to $91.5 billion in an initial public offering (IPO). “It’s going to be much more difficult and cumbersome to extract profitability,” said another investor who attended the roadshow. Lyft was the first U.S. ride-hailing company to go public and one challenge investors grappled with was how to value a company with no
Uber quizzed on growth at IPO roadshow in London Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, investor, attended, ipo, uber, quizzed, billion, roadshow, investors, growth, valuation, business, company, london, ridehailing


Uber quizzed on growth at IPO roadshow in London

Uber Technologies Inc Chief Executive Dara Khosrowshahi sought to persuade money managers in London that the loss-making ride hailing firm’s growth plans justified a valuation of up to $91.5 billion in an initial public offering (IPO).

In the ballroom at Claridge’s, the five-star hotel in London’s wealthy Mayfair district, over 100 investors listened on Monday to Khosrowshahi and Chief Financial Officer Nelson Chai talk about the company’s plans to expand their food delivery business and venture into other new business areas like shopping.

Uber is trying to show investors that it can shift from being simply a ride-hailing service to a technology platform for services ranging from delivering groceries and take-away meals to organizing freight transportation.

“While they didn’t call themselves Amazon, they made several references to their platform and how they intend to build that out,” said one investor who attended the hour-long presentation but declined to be named.

Uber reported on Friday it was aiming for a valuation of between $80.5 billion and $91.5 billion, less than the $120 billion investment bankers told the company last year it could fetch.

It also disclosed it suffered a loss of around $1 billion on sales of roughly $3 billion in the first quarter of 2019.

Uber has cautioned in its IPO filing that it may never make a profit and some investors at the roadshow said the ride-hailing industry faces hurdles such as increased regulation and local minimum wages that could hamper profitability.

“It’s going to be much more difficult and cumbersome to extract profitability,” said another investor who attended the roadshow. Uber’s lower valuation target follows the poor performance of smaller rival Lyft Inc, whose shares are down around 20 percent from when the company listed last month.

Lyft was the first U.S. ride-hailing company to go public and one challenge investors grappled with was how to value a company with no clear peer.

The second investor who attended the Uber roadshow said people should look at the airline industry, as opposed to other technology companies, when assessing Uber’s business model.

“If you think about airlines, there’s a lot of barriers to entry and there are capital intensive barriers, but ultimately airlines are not massively profitable,” the investor said.

A spokesman for Uber declined to comment on the investor comments.


Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, investor, attended, ipo, uber, quizzed, billion, roadshow, investors, growth, valuation, business, company, london, ridehailing


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Wall Street calls Tesla’s autonomous plan ‘half-baked,’ doubts it can beat Lyft, Nvidia and Google

Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries. The event came two days before Tesla is scheduled to report first-quarter earnings. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand. Here’s what else ana


Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries. The event came two days before Tesla is scheduled to report first-quarter earnings. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand. Here’s what else ana
Wall Street calls Tesla’s autonomous plan ‘half-baked,’ doubts it can beat Lyft, Nvidia and Google Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: yun li, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, google, software, technology, robotaxis, doubts, osborne, teslas, investor, nvidia, halfbaked, tesla, plan, musk, street, wall, calls, ridehailing, legal, leaders, lyft


Wall Street calls Tesla's autonomous plan 'half-baked,' doubts it can beat Lyft, Nvidia and Google

Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed.

At the company event Monday, Musk was all too confident about carrying out autonomous robotaxis next year, even predicting that Tesla will be making cars with no steering wheels or pedals by 2021. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries.

“We see a significant amount of technology and execution risk in the shift in strategy from competing in just electrification to Tesla also beating Nvidia in hardware, Google in software, and building a better ride-hailing service than current ride hailing leaders,” Cowen’s analyst Jeffrey Osborne said in a note on Tuesday.

“The Tesla Network robotaxi plans seemed half baked, with the company appearing to either not have answers to or not even considered pretty basic question on the pricing, insurance liability, or regulatory and legal requirements,” Osborne added.

The event came two days before Tesla is scheduled to report first-quarter earnings. Shares of Tesla are down 0.5% in morning trading on Tuesday. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand.

Here’s what else analysts are saying about Tesla’s Autonomy Investor Day:


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: yun li, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, google, software, technology, robotaxis, doubts, osborne, teslas, investor, nvidia, halfbaked, tesla, plan, musk, street, wall, calls, ridehailing, legal, leaders, lyft


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Uber is way more complicated than Lyft, and investors shouldn’t value them the same way

While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way. Uber is known as a ride-hailing business and so is Lyft. In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s. Persona


While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way. Uber is known as a ride-hailing business and so is Lyft. In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s. Persona
Uber is way more complicated than Lyft, and investors shouldn’t value them the same way Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-13  Authors: lora kolodny, drew angerer, ali balikci, anadolu agency, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, lyft, mobility, value, business, uber, personal, valued, shouldnt, ridehailing, complicated, way, wayuber, units, companies, investors


Uber is way more complicated than Lyft, and investors shouldn't value them the same way

While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way.

Uber is known as a ride-hailing business and so is Lyft. Both companies offer ride-sharing, carpooling, bike and scooter rentals for short trips on-demand. But the comparisons should probably stop there.

In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. It’s also operating in 63 countries and more than 700 cities while Lyft remains focused on transportation only, in just the US and Canada.

Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s.

Personal mobility


Company: cnbc, Activity: cnbc, Date: 2019-04-13  Authors: lora kolodny, drew angerer, ali balikci, anadolu agency, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, lyft, mobility, value, business, uber, personal, valued, shouldnt, ridehailing, complicated, way, wayuber, units, companies, investors


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Lyft prices IPO at $72 per share

Lyft’s initial public offering of 32.5 million shares was priced at $72 per share on Thursday. Shares in the ride-hailing company are expected to start trading on the Nasdaq on Friday, under the ticker “LYFT.” Founded by CEO Logan Green and President John Zimmer in 2007, Lyft launched its ride-hailing app in 2012. Lyft has been named to the CNBC Disruptor 50 List three times, ranking fifth on the 2018 list. WATCH: Lyft IPO will encourage others to go public


Lyft’s initial public offering of 32.5 million shares was priced at $72 per share on Thursday. Shares in the ride-hailing company are expected to start trading on the Nasdaq on Friday, under the ticker “LYFT.” Founded by CEO Logan Green and President John Zimmer in 2007, Lyft launched its ride-hailing app in 2012. Lyft has been named to the CNBC Disruptor 50 List three times, ranking fifth on the 2018 list. WATCH: Lyft IPO will encourage others to go public
Lyft prices IPO at $72 per share Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: lora kolodny, deirdre bosa, ramin talaie, corbis news, getty images
Keywords: news, cnbc, companies, lyft, share, company, public, million, ridehailing, 72, prices, expected, s1, 2018, uber, billion, ipo


Lyft prices IPO at $72 per share

Lyft’s initial public offering of 32.5 million shares was priced at $72 per share on Thursday. This would value the company at more than $20 billion and hit the top of its expected range.

Shares in the ride-hailing company are expected to start trading on the Nasdaq on Friday, under the ticker “LYFT.”

The company faces formidable competition from Uber, according to its S-1 filing released earlier this month. Lyft claimed 39 percent of the U.S. market at the end 2018, up 17 percentage points over two years, it said in the filing.

In 2018, Lyft reported:

Net loss: $911 million, wider by 32 percent from 2017

Revenue: $2.2 billion, double the revenue it saw in 2017

Bookings: $8.1 billion, an increase of 76 percent from 2017

Funded early on by venture firms including Floodgate, K9 Ventures, Mayfield Fund, and Peter Thiel’s Founders Fund, Lyft is one of several maturing tech start-ups expected to go public this year. Others expected to go public in 2019 include Uber, Pinterest, Zoom and Slack. (Uber, Lyft’s chief rival, is expected to release its S-1 and go public next month.)

Founded by CEO Logan Green and President John Zimmer in 2007, Lyft launched its ride-hailing app in 2012. In its earlier years, Lyft operated a service called Zimride that focused on long-distance, shared car rides and car-sharing programs on college campuses.

Lyft has been named to the CNBC Disruptor 50 List three times, ranking fifth on the 2018 list.

J.P. Morgan, Credit Suisse and Jefferies are the lead underwriters of the offering.

WATCH: Lyft IPO will encourage others to go public


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: lora kolodny, deirdre bosa, ramin talaie, corbis news, getty images
Keywords: news, cnbc, companies, lyft, share, company, public, million, ridehailing, 72, prices, expected, s1, 2018, uber, billion, ipo


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Lyft and Uber’s European rivals are trying to make money before going public

Lyft and Uber are stealing the spotlight in the global ride-hailing market with massive upcoming initial public offerings – and that doesn’t bother their European rivals. Lyft is expected to start trading publicly on the Nasdaq on Friday at a valuation of roughly $20 billion, but the company, like its archrival Uber, has yet to make money. Lyft’s IPO prospectus revealed a $911 million net loss in 2018, while Uber reported even heftier adjusted losses of $1.8 billion during that period. Tech comp


Lyft and Uber are stealing the spotlight in the global ride-hailing market with massive upcoming initial public offerings – and that doesn’t bother their European rivals. Lyft is expected to start trading publicly on the Nasdaq on Friday at a valuation of roughly $20 billion, but the company, like its archrival Uber, has yet to make money. Lyft’s IPO prospectus revealed a $911 million net loss in 2018, while Uber reported even heftier adjusted losses of $1.8 billion during that period. Tech comp
Lyft and Uber’s European rivals are trying to make money before going public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: elizabeth schulze, -markus villig, ceo of estonian ride-hailing firm bolt
Keywords: news, cnbc, companies, european, lyft, work, companies, trying, focused, public, money, lyfts, going, rivals, ubers, ridehailing, uber, billion


Lyft and Uber's European rivals are trying to make money before going public

Lyft and Uber are stealing the spotlight in the global ride-hailing market with massive upcoming initial public offerings – and that doesn’t bother their European rivals.

At the Goldman Sachs Disruptive Technology Symposium in London this week, European ride-hailing and carpooling start-ups said they will be closely watching Uber and Lyft’s highly-anticipated IPOs but added they are more focused on profitability than their U.S. counterparts.

“You need to be much more focused on operations and costs, which is not something that comes very naturally to most Silicon Valley companies, so I think that’s where we have a big edge,” said Markus Villig, CEO of Estonian ride-hailing firm Bolt, formerly called Taxify, in an interview with CNBC from the conference Tuesday.

Lyft is expected to start trading publicly on the Nasdaq on Friday at a valuation of roughly $20 billion, but the company, like its archrival Uber, has yet to make money. Lyft’s IPO prospectus revealed a $911 million net loss in 2018, while Uber reported even heftier adjusted losses of $1.8 billion during that period.

Tech companies like Uber and Lyft have been able to prioritize growth over profits thanks to abundant funding in private markets. Some investors aren’t convinced the same strategy will work once the companies go public.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: elizabeth schulze, -markus villig, ceo of estonian ride-hailing firm bolt
Keywords: news, cnbc, companies, european, lyft, work, companies, trying, focused, public, money, lyfts, going, rivals, ubers, ridehailing, uber, billion


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