Deals
Lyft Gears Up for Debut After Kicking Off Tech IPO Frenzy
- U.S. ride-hailing giant set to price shares Thursday afternoon
- Investors ignore growing losses as bankers boost price range
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After a chilly start to 2019 for U.S. initial public offerings, Lyft Inc. is set to light a fire under the listings market when its shares price Thursday.
So far, investors seem willing to overlook the company’s surging losses in favor of strong revenue growth combined with a first-mover advantage. While a slew of tech offerings is expected to follow Lyft’s debut, there hasn’t been a multibillion-dollar IPO by a U.S. technology company since Snap Inc. went public in 2017.