Lyft S-1: 2018 revenue of $2.2B up 100% YoY, gross bookings of $8.1B from 1B+ rides, loss of $911M, up 32% YoY, 39% market share in the US, up from 22% in 2017
So Are Losses Walter Frick / HBR.org : The Strategy Question at the Center of Lyft's IPO Axios : Lyft files first for IPO in litmus test for the industry Harper Neidig / The Hill : Lyft files to go public Maria Jose Valero / Bloomberg : Uber CEO Calls Rival Lyft's IPO a ‘Big Moment For Ridesharing’ Dara Kerr / CNET : Lyft files for IPO, says it ‘represents freedom at your fingertips’ Maria Deutscher / SiliconANGLE : Lyft heads for IPO after losing $911M on revenues of $2.2B in 2018 Becky Peterson / Business Insider : Lyft kicks off 2019 unicorn IPO spree with public S-1 Steven Loeb / VatorNews : Lyft unveils S-1: revenue up 6x in two years, along with increased losses Ashley Rodriguez / Quartz : Lyft says it nearly doubled its market share since 2016. Here's how much that cost in marketing Olivia Rudgard / Telegraph : Uber rival Lyft reveals growing loss as it files to go public Taylor Soper / GeekWire : Lyft reveals financials in new IPO filing: $2.2B revenue, $911M net loss in 2018 Stephanie Condon / ZDNet : Lyft's IPO filing reveals nearly $1B in net losses in 2018 PE Hub Blog : Lyft IPO filing shows surging revenue, widening losses: Reuters Megan Rose Dickey / TechCrunch : Lyft lays out financial risks associated with reclassifying drivers Brian Deagon / Investor's Business Daily : Lyft IPO Filing Revealed, Showing Big Loss As Revenue Doubled The Information : Lyft's IPO Filing Shows Revenue Nearly Doubled in Q4 While Loss Rose Slightly Kris Holt / Engadget : Lyft officially files to go public Kate Clark / TechCrunch : Lyft unveils its S-1 and nearly $1B in 2018 losses Michael Potuck / 9to5Mac : Lyft beats Uber to ride-sharing IPO in search of $100M, reports $2.2B in revenue for 2018 Sasha Lekach / Mashable : Lyft files to go public and reveals it lost so, so much money last year Bloomberg : Lyft's IPO Filing Shows It Lost Almost $1 Billion Last Year Bloomberg : Sources: Uber is in advanced talks to acquire its Dubai-based rival Careem, valuing the company at $3B, in a deal that could be announced in the coming weeks Tweets: Rani Molla / @ranimolla : Lyft lost about $1.40 per ride last quarter (net loss -$248.9M on 178.4M rides). That's better than in 2017, when it lost $1.82 per ride. For context, Uber lost $1.13 per ride in 2017. http://twitter.com/... Josh Elman / @joshelman : The interesting story here is just how much cash Lyft has raised and needed to spend to get to its massive scale. Google and Facebook were much less since they were fully digital. Real world services require a lot more cash. Dilution really changes early venture economics http://twitter.com/... Steven D. Solomon / @stevendsolomon : Lyft Dual Class has a pretty limited sunset. Converts only if founders own less than 20% of the stock they own now. Also if they die or become “totally disabled” whatever that means. Allows for transfers for estate planning. There is no automatic sunset after a period of yrs Biz Carson / @bizcarson : What caused Lyft's revenue per rider to increase? Lyft specifically calls out Q1 and Q2 of 2017 as a time when its “brand and our values resonated with riders” AKA - #DeleteUber campaign and company scandals did drive a noticeable lift in Lyft revenues https://www.forbes.com/... Dara Kerr / @darakerr : Lyft said it served 30.7 million riders in the US and Canada in 2018 and that it had 1.9 million drivers last year. It also handled more than 1 billion rides. Matt Rosoff / @mattrosoff : This seems like very bad news for Uber: “Our U.S. ridesharing market share was 39% in December 2018, up from 22% in December 2016.” Teddy Schleifer / @teddyschleifer : @ranimolla An expert on shareholder governance says the Lyft founders' shares having 20x as much voting power as typical investors' is “pretty egregious."http://www.recode.net/ ... Rani Molla / @ranimolla : Lyft's voting structure gives its founders 20 votes for every vote held by a regular investor. Typically dual-class voting structures are more like 10-1 http://www.recode.net/... via @Recode @teddyschleifer IDG / @drivingguild : We knew Uber and Lyft were slashing driver pay and pocketing more and more of each fare and here is the chart that shows it. Lyft is pocketing 28.7% commission while drivers are left with less than minimum wage. http://www.sec.gov/... http://twitter.com/... @business : Uber's CEO congratulated Lyft on its IPO, calling it ‘a big moment for ridesharing’ https://bloom.bg/2EobN5t Kate Clark / @kateclarktweets : Lyft's key stakeholders: Rakuten (13% pre-IPO stake), General Motors (7.76%), Fidelity (7.1%), Andreessen Horowitz (6.25%) and Alphabet (5.3%): https://techcrunch.com/... Roland Li / @rolandlisf : Lyft: “We believe that cities should be built for people, not cars.” http://www.sec.gov/... SF: Ride-hailing companies like Lyft and Uber accounted for half of increased congestion between 2010 to 2016 http://www.sfcta.org/... http://twitter.com/... @om : Loss of a company culture as a risk factor. It is good to see them put this right in their S-1. How much you wanna bet that @uber can't say the same. #lyft http://www.sec.gov/... http://twitter.com/... @alex : Lyft's CoR is about 55%, giving Lyft a gross margin of 45%. That's not software-levels, but it's also pretty Not Bad. Esp if it can juice a few more points out over the coming quarters. @om : Lyft is going to spend at least $100 million a year with Amazon Web Services. Lyft committed to spend an aggregate of at least $300 million between January 2019 and December 2021 on AWS services. #cloud $AMZN http://www.sec.gov/... Steve Kovach / @stevekovach : Lyft drivers with at least 10,000 rides will have the option to get a cash bonus, which they can keep or use to buy stock in the company. http://www.cnbc.com/... Alison Griswold / @alisongriswold : Lyft goes with 20:1 voting rights! A service for the people! http://www.sec.gov/... http://twitter.com/... Kadhim / @kadhimshubber : I know these metrics are heading in the right direction, but look at 2016 — it's amazing to see a company literally having to purchase, and then some, every penny of revenue it made http://www.sec.gov/... http://twitter.com/... Rat King / @mikeisaac : lyft's interesting version of ARPUregular ride-hailing customers are way more valuable than the average ad-scanning FB user http://twitter.com/... Amir Efrati / @amir : Make no mistake: Lyft's Q4 of 2018 was good all around and extended the positive trends we've been documenting for many quarters—namely, spending less on ads as a percentage of revenue. $LYFT http://www.theinformation.com/ ... @jasonlk : I didn't think going out first mattered But if you are ripping market share away from #1, seems pretty smart http://twitter.com/... Alexei Oreskovic / @lexnfx : Lyft includes Apple as one of the autonomous vehicle threats. Guess Project Titan not dead after all: “There are also a number of companies developing autonomous vehicle technology that may compete with us in the future, including Alphabet (Waymo), Apple, Baidu, Uber and Zoox” Stephen Shankland / @stshank : Best thing about @Lyft IPO: hard numbers. Something like 30/rides per year per rider. http://twitter.com/... Felix Salmon / @felixsalmon : Was Lyft's S-1 written by JargonBot 1.0? pic.twitter.com/g4OJy70nLj Biz Carson / @bizcarson : Interesting metric in the Lyft filing: “revenue per active rider” March 2016: $15.88/per rider December 2018: $36.04/per rider https://www.forbes.com/... Mike Dudas / @mdudas : Let the Great Tech Unicorn IPO Parade of 2019 begin!First up: @Lyft! This lovely beast would like to be valued at $20-25B after losing *only* $911M in 2018!Step right up and buy your Unicorn http://www.cnbc.com/... Steve Kovach / @stevekovach : Lyft says it had 39% of the US market in 2018, up from 22% in 2017. Doesn't sound good for Uber. http://www.cnbc.com/... Melody Hahm / @melodyhahm : Lyft has 39% of the U.S. ridesharing market - in Q4: 18.6 million active riders, 1.1 million drivers revenue / net loss 2016: $343.3 million / $682.8 million 2017: $1.1 billion / $688.3 million 2018: $2.2 billion / $911.3 million TicToc by Bloomberg / @tictoc : More stats from Lyft's filing: -Lyft had 30.7 million riders in 2018 -Lyft had 2018 revenue of $2.16 billion and losses of $911.3 million -Lyft's total costs and expenses in 2018 were $3.13 billion pic.twitter.com/GhWWAU9ogn Ryan Mac / @rmac18 : Looking at Lyft's Risk Factors from its S-1 and the company actually lists its dual class share structure, which gives its founder outsized power, as a potential risk because it “will limit your ability to influence corporate matters”.http://www.sec.gov/ ... http://twitter.com/... Matt Rosoff / @mattrosoff : Lyft lost $911m on $2.1B last year, but revenues growing a lot faster than losses — revs more than doubled, losses only up about 33%. http://www.cnbc.com/...