https://www.siliconvalley.com/2019/03/19/will-lyft-surpass-23b-valuation-for-ipo-analysts-say-its-possible/

NEW YORK — Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion valuation it is seeking, people familiar with the matter said Tuesday.

The development indicates that many investors are willing to overcome uncertainty over Lyft’s path to profitability and its strategy for autonomous driving, for fear of missing out on the biggest and most high-profile technology IPO since Snap Inc in 2017.