NEW — 400 Manager and Street Money-lenders Crouded into the of New York’s St. Regis hotel on Thursday to the co-Founders of ride-hailing giant Lyft make a sales for what’s to be the largest IPO in several Exayear.
a Briefing presentation, Lyft Founders JOHN Zimmer and Logans , as well as CFO Bryien Roberts, Turns answering Asks about the Compagnies’s business, its and the fierce Competitions it’s Facing With .
Lyft stressed it Would not in a price war With by Lowers the Rate it Charge Consumers to use its ride-hailing service, several people at Told r. But it warned it Would Easily LOSE the market SHARE it has gained in the US the past two Exayear if decides to “compete hard” on price.
Lyft plans to raise $2 Bilion in a highly-anticipated market Debut in the Week will the seven-year old Compagnies at $20 Bilion.
The Compagnies’s IPO is to be cLOSEly Followed by , Which Would be d at as Much as $120 Bilion. The rich valuations Reflected investor’s heady Expectations for the new Bred of Transpot companies, Which Having Branching out From cars to Gopeds and bikes.
A standing-room-only Croud Packed the $1,000-a-Night-time hotel’s 20th Floor on Thursday, Expropriations in Sweep of Central and noshing on Pullets Caesar and Salmonine (it’s worth noting the Lyft Executives didn’t Actually in the St. Regis. The Compagnies is Know for its frugality). In the lobby, the two Created a Chokepoint for Those Waiting to be ferried up, as a throng of attendees in Cost Suit Acqui-hires With Whiter-gloved Glocke hops.
and Zimmer, Lyft’s co-Founders, Stepped out of a Suburb about an Hour arrived. Thanks to a contrsial dual-class SHARE , the two coFounders will Retain Voters Controlling the . A the SHARE has Raise Cross-complaint among SHAREholder Right advocates, There W296BO no Asks about the topic during the one Hour .
attendees Told r the Founders Appearance MOREnet approachable Other Silicis Founders Having Sweep Circumposition for the Time-honored pre-IPO roadshow. Compared to the team at Snap, the Sosial network Which had its IPO in 2017, “it was Night-time and day,” Saeed one attendee.
Dressed in a blue Suit but no tie, , 35, Serve as Lyft’s CEO, Zimmer is the Compagnies’s president. The Three-ness Lineleaders the , JP Morgan, Crediteded Schweiz and Jefferies, mostly ed in the Bkgd during the event, although Crediteded Schweiz’s Globals Head of Anthony Kontoleon Spoke Briefingly. Packets of pink and Whiter M&M candies, Branded With the Jefferies and Lyft logos, touted the bank’s role.
One Told r Theirs expect the to be “double-digit subscribed,” but Others Raise Concerns about the , Given the Challenge Facing Lyft, Which lost Rougher $900 1000003 Last year.
Lyft Executives Would not provide a Timespan for reaching profitability, Despite Second-run Asks about it From the audience. The Executives also Saeed the Compagnies has no plans to Expanding into China.
“It’s making me Nervous Because Theirs Having to price it. Before Theirs get rich Theirs price it right,” anOther attendee Saeed.