Lyft Nears First Big Step Toward IPO

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.

[Related: Lyft may beat Uber in the race to profitability]

Article by PitchBook

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