Lyft's IPO filing reveals nearly $1B in net losses in 2018

Lyft's IPO filing reveals nearly $1B in net losses in 2018 1

Lyft on Friday shared the details of its plans to go public on the Nasdaq exchange under the symbol LYFT. The ride-hailing service had previously announced that it confidentially filed an IPO. In the S-1 form filed with the US Securities and Exchange Commission on Friday, Lyft revealed that its revenue is growing quickly as it gains market share — but in 2018 it posted net losses of nearly $1 billion.

Lyft’s revenue in 2018 was $2.2 billion, up 103 percent from $1.1 billion in 2017. In 2016, its revenue was $343.3 million. The company generated bookings of $8.1 billion in 2018, up 76 percent from $4.6 billion in 2017. Its 2016 bookings were $1.9 billion.

Its net loss in 2018 came to $911.3 million. In 2017, its net loss was $688.3 million, compared with $682.8 million in 2016.  

Operating in more than 300 markets in the US and Canada, Lyft had 30.7 million riders in 2018 and 1.9 million drivers. Its US ridesharing market share was 39 percent in December 2018, up from 22 percent in December 2016. The number of active riders increased 47 percent in the fourth quarter of 2018 compared to the same period in 2017.

Lyft’s growing market share is sure to be a concern for Uber, its main competitor. Uber is also readying to go public, but the company has been plagued by a series of controversies Last year, for instance, Uber reached a nationwide settlement agreement over a massive 2016 data breach and subsequent cover-up scheme. Meanwhile, Uber has undergone major leadership shakeups in recent years, and it continues to face challenges outside of North America. 

As part of its initial public offering, Lyft will be reserving shares for drivers in good standing who have completed at least 10,000 rides on the Lyft platform, as well as  drivers in good standing who have served on Lyft’s Driver Advisory Council. The company is also recognizing drivers with a one-time cash bonus. Those who have completed at least 10,000 rides but fewer than 20,000 will get a bonus of $1,000, while those who have completed at least 20,000 rides will get $10,000. Drivers who have served on the Driver Advisory Council will get $1,000.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
Scammers
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin21,082 0.30 % 0.51 % 2.97 %
Ethereum1,192.1 0.42 % 1.55 % 9.58 %
Tether1.001 0.04 % 0.13 % 0.01 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB232.72 0.25 % 1.81 % 7.66 %
Binance USD1.002 0.24 % 0.04 % 0.09 %
XRP0.3571 0.02 % 1.24 % 10.76 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana40.06 0.00 % 0.30 % 29.77 %
Polkadot7.900 0.58 % 3.21 % 7.90 %

bitcoin
Bitcoin (BTC) $ 21,066.00
ethereum
Ethereum (ETH) $ 1,193.01
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 232.64
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.357885
cardano
Cardano (ADA) $ 0.485019
solana
Solana (SOL) $ 40.10
polkadot
Polkadot (DOT) $ 7.91