It’s perhaps a good day to say that there are some things in the world that sometimes just Lyft off and defy gravity, for no good nor sound reason at all!
Lyft, the winner in the ridehailing race to the public markets, has debuted on the NASDAQ in the year’s biggest listing so far. The company has priced its shares at $72 apiece, valuing its IPO at roughly $20.6 billion—a significant jump from the $15.1 billion valuation it reached in its latest funding round last year.
The company’s latest S-1 filing notes that Lyft’s co-founders, Logan Green and John Zimmer, will hold all of the company’s class B shares, which carry 20x the regular voting power. With nearly 49% of Lyft’s voting shares between the two, Green and Zimmer could reportedly hold respective stakes in the company worth $569 million and $393 million with a top-end pricing.