Following intense interest in its initial public offering, Lyft has priced its shares at $72 — above the previously expected target of between $62 and $68. The company, now valued at $24 billion, is slated to trade under the symbol LYFT.
Our founder, Bert Martinez, had this to say, “Lyft has priced its IPO shares at $72, valuing the company at more than $24BN. The valuation for a business that will not make money for 3 years seems high. It reminds me of the dotCom investments era. No business fundamentals needed. Wishing all Lfyt investors good luck.