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There may be trouble ahead for Uber as rival Lyft prepares to beat them to an IPO

31 Aug 2018


Ride-sharing firm Lyft are setting up to beat rival Uber to an IPO early next year.

According to a report in Bloomberg, the US firm are in discussion with an advisor as they look to push through an initial public offering in March or April 2019.

Sources say Lyft has hired a company called Class V Group LLC to work on the process.

Lyft is now valued at $15.1 billion and operates in the same number of US cities as their biggest rival in the ride-sharing industry, Uber.

Since the arrival of new Uber CEO Dara Khosrowshahi, the controversial app has desperately worked to get their house in order in hope of launching their own IPO in 2019, but if Lyft were to go public before them it would almost certainly be considered a major loss to the industry's front runner.

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