Since the start, Lyft has played second fiddle to Uber. But tomorrow, it looks like the rideshare service formerly known as "the weird one with the pink mustaches" will win at least one important race: the sprint to be the first to have its initial public offering.
Lyft is slated to start trading on the Nasdaq Friday, under the stock ticker (no surprise) "LYFT," weeks or even months ahead of the debut of its rival.
For what it's worth, Uber launched in 2009; Lyft debuted in 2012, although technically Lyft was originally a service of its predecessor company, Zimrode. So, you do the math and come up with your own definition of which was first.
If things go as expected, Lyft, which claims to hold about 39 percent of the U.S. rideshare market (up from 22 percent two years ago) would be valued at about $20 billion.
Uber is expected to follow perhaps as soon as next month, and the parade of the unicorns could likely launch soon afterward, with Pinterest, Zoom, Slack and Casper all expected to go public this year, too.
Given my far-behind-the market history of investing, the last thing I'd do is advise you to invest or not to invest in any of these companies. But it is interesting to me that on any given weekday, I personally would have used at least two, and maybe three of those six companies before 10 a.m.
(Casper--the mattress company--not included; but it easily could have been.)
Quick note: Thanks to everyone who emailed me with their stories about quitting after I asked last week. I'm a bit overwhelmed by the number of replies, but I do plan to reply to everyone. So thank you for your messages, and thank you also for your patience.
Here's what else I'm reading today:
- VRBO is sick of explaining how to pronounce its name. So it's changing its name.
- Re: re: re: re: re: Update to Elon Musk's last message (he emails the whole company yet again about the plan to close Tesla stores)
- 50 women just sued Salesforce saying it facilitated human trafficking via Backpage
- How one man gamed the lottery and legally won millions 14 times.
- Trump's tax law was supposed to help U.S. companies bring money home. Now it's doing the exact opposite.
- Just like 2006 again: house prices are rising in the exurbs, as they did just before the last bubble burst.
- Southwest Airlines rolled out Hawaii service, but it's feeling the pinch from the 737 Max crisis.
- The EU voted to let its member countries get rid of daylight savings time.
- This viral prank is getting people locked out of their Twitter accounts.
- Facebook is fighting in court in Belgium to be allowed to track what both users and non-users do on the Internet.
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