Lyft opens up its IPO road show, offers 30 million shares

NEW YORK (AP) — Lyft officially kicked off the road show for its initial public offering with 30 million shares expected to sell for between USD62 and USD68 per share.

That would raise more than USD2 billion for the San Francisco ride-hailing company, which could be valued between USD20 billion and USD25 billion eventually. Lyft has been in a race with Uber to be first to offer its stock to the public. Lyft released financial details for the first time this month, reporting USD2.2 billion in revenue but USD911 million in losses.

Lyft executives warned that the company could struggle to turn a profit. The company has lost nearly USD3 billion since 2012, but has brought in more than USD5 billion in venture capital.