SAN FRANCISCO, California — Lyft Inc released its filing for an initial public offering on Friday, giving the public the first detailed look at its financials since its 2012 launch — with a revenue of $2.16 billion for 2018.
This marks a 103 percent increase over the previous year, and up 528 percent from 2017, according to the documents. Its gross bookings, or the total value of the rides it sells before driver pay is deducted, reached $8.05 billion for last year, 76 percent above the prior year and 323 percent above 2016 bookings.
But the company operated with heavy losses, posting a loss of $911 million for 2018 versus $688 million in 2017 and $682 million in 2016, according to the filings.
The company expects to be valued at between $20 billion and $25 billion in its IPO, up from its current $15 billion valuation.
Companies must release the formal version of the filing before their roadshow.