Lyft cruises onto Wall Street with a pop in stock market debut

Lyft cruises onto Wall Street with a pop in stock market debut

5 years ago
Anonymous $Dftgs0JzgE

https://www.cnet.com/news/lyft-cruises-onto-wall-street-with-a-pop-in-stock-market-debut/

Lyft co-founders Logan Green and John Zimmer rang the opening bell on the Nasdaq exchange, where the company's shares trade under the ticker symbol LYFT. The IPO exceeded expectations on Thursday, raising $2.34 billion and placing its value at $24 billion. That's significantly higher than its $15 billion estimated valuation as a private company.

Lyft's debut is the first of many expected public offerings this year. If all goes as planned, 2019 will be a year of the tech IPO. Uber, Airbnb, Pinterest, Slack and Palantir are among the other tech companies expected to go public. Analysts think Uber, the world's most highly valued private company, could be worth as much as $120 billion after going public, which would make it the biggest IPO in US history.

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