Lyft is close to selecting an IPO advisory firm, according to Reuters. This would be the first concrete step toward an offering that could happen as soon as next year. It would also mean beating scandal-plagued rival Uber to the public markets, as Uber’s new CEO Dara Khosrowshahi recently said the company had no plans for an IPO for at least 18 months.
Banks are faced with a tough decision, as several, including Morgan Stanley and Goldman Sachs, are lenders to Uber. Serving as an underwriter on Lyft’s IPO might exclude them from Uber’s eventual float, per Reuters.
Dan Loeb's Third Point returned 11% in its flagship Offshore Fund and 13.2% in its Ultra Fund for the first quarter. For April, the Offshore Fund was up 1.7%, while the Ultra Fund gained 2.3%. The S&P 500 was up 6.2% for the first quarter, while the MSCI World Index gained 5%. Q1 2021 hedge Read More
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