Lyft issues IPO, but its path to profitability is still unclear

Meghan McCarty Carino Mar 29, 2019
Share Now on:
HTML EMBED:
COPY
The number of Lyft shares to be offered and the price range for the proposed offering have not yet been determined. Kelly Sullivan/Getty Images for Lyft

Lyft issues IPO, but its path to profitability is still unclear

Meghan McCarty Carino Mar 29, 2019
The number of Lyft shares to be offered and the price range for the proposed offering have not yet been determined. Kelly Sullivan/Getty Images for Lyft
Share Now on:
HTML EMBED:
COPY

Lyft issues its highly anticipated IPO on Friday. Like Uber, Lyft has not been profitable to date. Critics say the only way the ride-share company can become profitable is to cut driver pay or risk losing riders by increasing rates. Lyft recently announced some new driver perks, like banking and car repair services, in the hopes of appeasing disgruntled drivers and attracting new ones. The services could also generate revenue for Lyft in the future.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.