Misc.

And lyft files for ipo

Dec 6

Sneaky! Uber will play catch up for the first time.

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  • Dropbox nvp
    congrats lyft friends!
    Dec 60
  • Dexcom xXhT11
    I believe several image conscious companies have made Lyft-only policies. Maybe they still have momentum from Uber's issues?
    Dec 616
    • Uber / OpsHd63gf7
      Woke is what lyfts CEO used to describe Lyft
      Dec 6
    • Uber / Englil Blind
      Uber employees drink the same Philz as the rest of you. We’re going to do our best build reliable tech at the lowest cost.

      And I promise you we care more about drivers than you do. Think whatever you want.
      Dec 6
    • Google akumar?
      lil Blind aapki gaand to nahi dukh rahi?
      Dec 6
    • Google lQUu76
      Lil blind but you made a terrible decision to work for Uber and you will be punished for it accordingly
      Dec 6
    • Twitch __next__
      saw an uber employee sexually harass someone at that uber bar, Hazel, tonight, he was on the uber eats team. i’ll keep using lyft
      Dec 6
    • Uber / Englil Blind
      _next_ that happened. I guess your point is a twitch employee would never stand up for anybody in real life.
      Dec 6
    • Microsoft / Eng
      Jishvm86

      MicrosoftEng

      PRE
      Google, Facebook, TuneIn, Cisco
      Jishvm86more
      Your one-up insult implies those who don't report a crime immediately are worse than the actual perpetrator.

      You really can't make this shit up! 😂😂👏🏼🤷🏻‍♂️
      Dec 9
    • Uber / Englil Blind
      Jish my point was you can’t judge a company on the actions of one person. And I don’t believe him any way. He probably thinks it’s sexual harassment to say “you look nice”.

      I guess they don’t require much intelligence at Microsoft.
      Dec 10
    • Microsoft / Eng
      Jishvm86

      MicrosoftEng

      PRE
      Google, Facebook, TuneIn, Cisco
      Jishvm86more
      *When talking about the actions of one person* - "I guess your point is a twitch employee would never"

      "you can’t judge a company on the actions of one person."

      You really can't make this shit up! 😂😂👏🏼🤷🏻‍♂️
      6d
    • Uber / Englil Blind
      🐏🐏🐏🐏 can’t make up your use of emojis either! Baaaaaah
      5d
  • Verizon PinkyBrain
    Do you even lyft bro
    Dec 61
  • Pinterest No-ML
    Congrats Lyft folks!
    Dec 60
  • LinkedIn 🍿❤️
    Can anybody educate me why does the timing matter? Like why does it seem like whoever IPOs first wins?
    Dec 66
    • Stripe / EngAb4521
      I think the timing is bad because the market has become bearish, particularly with tech stocks. Not as much to do with racing to IPO first.
      Dec 6
    • Verizon PinkyBrain
      Ah, must’ve learned a fidelity term. I must disagree though, seems a bit squirrelish
      Dec 6
    • Google / EngUUKg61
      IPO is first time when companies are evaluated on public platform. Before IPO, any coke addict can value the company at any figure. The private valuations matter much less post IPO. As such, it is critical to time IPO depending on market conditions. If market in general is bullish, one tends to get higher valuations.

      For the first IPO part, this particular area of transportation is uncharted territory.The uber/lyft model of business where the company owns almost 0 real world assets , is a new way of doing business. It will be very interesting to see how traditional retail and asset management companies values such stocks. First one would have advantage of surprise and setting the benchmark.
      Dec 6
    • Uber / R&Djidao
      Company usually also raise money during the IPO, a higher valuation means less dilution when raising cash or getting more cash.

      For the employees, if they IPO at a low valuation due to the market, then either selling now will be some kind of loss, or if they hold for the market to recover, then they will pay additional tax on capital gain.

      So all in all it's better to IPO at a high valuation, but in the long term it doesn't really matter.
      Dec 6
    • Snapchat MiseryLife
      They FILED for IPO. They didn’t go public yet. Who cares if market is bearish now? 6 months ago the market was amazing. And it takes like 6 months to actually IPO.

      Well done Lyft. Uber and Lyft can BOTH win. There’s enough to be innovated upon in the transportation/distribution industry that we need more of this!!
      Dec 6
    • Google UJBa23
      It’s going to be interesting for Uber, Didi, Grab to see how market prices ride-sharing companies
      Quite courageous of Lyft, they’ll be the first ones to have a price tag
      Dec 6
  • Go out before Uber to test market. If going well that’s good news. If not going well, at least they will drag Uber down along with it.

    I don’t see a problem here.
    Dec 60
  • New 0hedge
    Cashing out and soaking up investor dollars in the segment before Uber can.....smart
    Dec 64
    • Citibank / Finance$$>RSU
      Once public they’re open to public scrutiny (see Tesla) and that’s not what you want going into a recession. Not smart.
      Dec 6
    • New 0hedge
      Only if you are long....most will be happy to sell it all. Next tech bubble is another 15 years away.
      Dec 6
    • Citibank / Finance$$>RSU
      So the bear market tech fell into over the last 30 days is a fluke?
      Dec 6
    • Indeed / Other
      TC1Billi

      IndeedOther

      PRE
      Lyft
      TC1Billimore
      Where u get next tech bubble is 15 years away lol
      Dec 6
  • Google / Eng
    Evenflow

    GoogleEng

    PRE
    Northrop Grumman
    Evenflowmore
    Dang, wish I didn't bomb my Lyft phone screen a few weeks ago now!
    Dec 67
    • Citibank DyYR12
      Same boat, except no Google RSUs
      Dec 6
    • Amazon / EngHelloGuys
      I thought Google engineers can crack any coding interview. :)
      Dec 6
    • Google / Eng
      Evenflow

      GoogleEng

      PRE
      Northrop Grumman
      Evenflowmore
      Me too :) to be fair that's the only intervoew out of 14 that I didn't pass so far
      Dec 7
    • Amazon / EngHelloGuys
      14? :) wow. What are these places? When do you have time to attend some many interviews?
      Dec 7
    • Google / Eng
      Evenflow

      GoogleEng

      PRE
      Northrop Grumman
      Evenflowmore
      All kinds, Facebook Dropbox Uber startups etc, and I've spread the phone interviews out over a couple of months and then accepted about half of those for onsites. I figured that it would be good practice and it has been!
      Dec 8
    • Amazon / EngHelloGuys
      Which phone screens were hard? If any.
      Dec 8
    • Google / Eng
      Evenflow

      GoogleEng

      PRE
      Northrop Grumman
      Evenflowmore
      Lyft :) but actually I thought I didnt do great in all of them but later found I passed. The hardest for me were the ones requiring graph data structs so I worked on getting better at those prior to onsites
      Dec 8
  • OneMarket ri0ts
    Bullshit. Seems like a ploy for an acquirer to take them off the table at an unreasonable valuation.

    Me thinks potentially Amazon, Google or some car company.

    Thoughts?
    Dec 65
    • Uber Rocco69
      Doubtful. They need the money honestly. Their burn rate is terrible for just having a ride sharing business and nothing else to invest in
      Dec 6
    • OneMarket ri0ts
      Coz Uber is handing it to them? 🤣🤣🤣
      Dec 6
    • Uber Rocco69
      Handing what to them? We're both burning cash. Also why would Amazon buy them? Buying a whole ride sharing business just to have a fleet of delivery cars is stupid. Also car companies can't afford Lyft. Google? They're probably too afraid to affect their balance sheets with all the losses
      Dec 6
    • OneMarket ri0ts
      Amazon rules! They could put this on steroids with prime + whole foods + credit + emerging health care biz.

      Sure you probably said the same thing about the whole foods acquisition too.
      Dec 6
    • Uber Rocco69
      Nope. But thanks for the strawman argument. Whole foods made total sense with Amazon Fresh etc
      Dec 6
  • Amazon Usernahme
    Submitting a draft registration is not the same as filing an actual S-1. We don't know shit yet. No number of shares, no price range, no date.
    So basically there's no point on this dumb post.
    They can very well withdraw in 2 months and hold if the market starts looking very bearish.

    ...And smart people here saying "congrats" and shit makes me think that nobody here knows how public markets work, which is kind of worrisome, since many people here seem to take decisions on what stock to buy and sell based on their shallow interpretation of the market.
    Dec 65
    • Lyft financials are public on many websites it's $15.1B dollar market cap at $47.15 a share you do the math.
      Dec 7
    • Amazon Usernahme
      That’s just a calculation. And that simple math is definitely not how an IPO is priced. For starters, we don't know how the stock pool is distributed exactly (common stock vs preferred stock). We also don't know exactly a what rate did early and late investors bought their shares. We don't have a good model to understand market demand and we don't have industry comparables which is why is kind of a big deal that Lyft is going public before Uber.

      Private valuations are meaningless to public markets. An investment banker will look at many things including economic climate, financial statements and general sentiment when pricing an IPO. Successful IPOs work on the presumption of high demand, so pricing it too high might hurt you.

      Even if the last investor bought at price of 47 USD, that doesn't mean that they are pricing above that.

      Also for people here thinking that Lyft employees will get automatically rich after an IPO, there's a 6 months lock-up period before a common stock holder can sell. In 6 months after a couple of bad events, things can go south, and late employees could be easily in a state in which they are barely profitting from their exercised options.

      So basically, it's not that straightforward.
      Dec 7
    • Yes, we do. It's all in the S-6's. Lyft is one of the whitest Unicorns, like Bambi the fawn. No ratchets. No preferred shares. Bambi. A true unicorn.
      Dec 7
    • Amazon Usernahme
      Either way. Knowing the exact price per share of your last valuation doesn't really give any hint that can indicate an IPO price since we also don't know how many shares will be issued for public trading / how much they are targeting to raise.

      Also, it's impossible to not have preferred stock. No institutional investor will ever invest without getting some type of preferred stock.

      Most likely employees and founders have common stock and all the large investors have different types of preferred stock.
      Dec 8
    • The last few investment rounds put a floor on the IPO price otherwise those investors would not allow the IPO to go forward. Live and learn. I will repeat this for you once again. Lyft is not a crooked company it is a white unicorn, therefore, additional share issuance for IPO will be minimal. There are not special classes of shares unlike most crooked unicorns read the ubc unicorn research study.
      Dec 8
  • Facebook / Engobov5566
    Lyft engineers are getting rich 🤑🤑
    Dec 64
  • GE IIoT
    Dec 60
  • Amazon gemalto
    I think Uber benefits the most here. They can see what the reaction is and gauge whether they want to wait or move forward. No skin off their backs.
    Dec 62
    • If they wait too long to IPO they will have to do another private stock sale
      Dec 6
    • Uber Rocco69
      Naa that won't work. Lyft will have money to burn after IPO. Uber won't so it will force their hand. The money Lyft makes from IPO is the average trading price during that day.
      Dec 6
  • It’s so irony, the folks who actually put their sweat and blood are not going to be rich incase of IPO success with all the odds. My Uber driver yesterday said he lives close to Yosemite and go back home every four days, sleeps in car. Seriously? They are the one for the Uber/Lyft to succeed and they will be much poorer since these companies are trying to get rid of them. Unlike other IPOs, the rich employees will become more fat with Drivers’ sweat and blood. https://www.forbes.com/sites/eriksherman/2018/12/08/uber-and-lyft-ipos-will-make-many-people-rich-but-not-the-drivers/amp/ . It’s NOT fair! Wait a minute, and majority of Lyft/Uber employees travel by public transportation to work ... Because they know their own ride services are fucking expensive and not convenient.. Hipocrites :)
    Dec 100
  • VMware bookman
    An IPO before Google Wymo becomes mainstream is important for self driving companies, Wymo mainstream will kill their valuations
    Dec 65
    • Uber / EngHowdyPardn
      Waymo has a few hundred customers in Arizona currently, I think you might be overestimating their scale
      Dec 6
    • Uber Rocco69
      Waymo is a scam. Self driving will be ready in 2030, maybe
      Dec 6
    • Roku Netflx
      Yeah I talked to a waymo test driver (whose job is to stay behind the wheel while testing). She said their cars are nowhere near driving on their own, and that she has to interfere consistently.
      Dec 6
    • VMware bookman
      Uber didn't replace Sanfransico taxi company overnight, but they did eventually. Waymo if successful in Arizona can replace Uber / lyft much faster than they replaced taxi companies as it would not have scale challenges of human drivers. Self driving is future, App driving will be legacy. Lyft Uber r Yahoo's of future
      Dec 6
    • I can kick the crap out of my Tesla autopilot. The only AI that succeeds at Google is the stuff that is given away for free. It is Sundar's dirty little secret that AI at Google is as profitable as cloud.
      Dec 7
  • Citibank / Finance$$>RSU
    Terrible timing based on market conditions. They’re either testing the market hoping they (early stage VCs) can cash out or need funding to continue growing (tapped out other sources).
    Dec 63
    • PTC / Eng
      IndianAudi

      PTCEng

      PRE
      ptc, IBM, SAP
      IndianAudimore
      Probably the latter as investors are holding cash in a safer place as interest rates go upz
      Dec 6
    • Amazon Northman
      More complicated than that - there are also tons of employees who want liquidity for their RSUs, looming specter of RSU expirations, and the fear that if they miss the IPO window now a real recession will kick in and close it for 2 years. Late stage investors are more likely to be antsy for liquidity than early stage folks right now. But yeah, other sources are likely getting squeamish about valuations in this space and wany public market validation too.
      Dec 6
    • RSUs at Lyft last only 7 years from original BoD grant date. There are employees TODAY whose RSUs are expiring as we speak.
      Dec 7
  • Facebook GE+DaSJW
    I'm jealous. Should have joined Lyft.
    Dec 62
  • Nextdoor / MktgZ5gk3z
    1
    Dec 62
    • Wayfair addA30
      Why? They're selling their stock at the top.
      Dec 6
    • Microsoft Jeph Bezos
      Exactly. Timing is perfect. They’ll get top dollar now that the market is high and they can rebuy once the market collapses if they want to. They’ll get the most money now.
      Dec 6
  • Amazon bababobo
    Doesn’t matter. Companies can file S-1 with SEC and revise it a hundred times before they actually go public. What’s the point of this post anyway?
    Dec 61
  • Uber Rocco69
    Congrats
    Dec 60
  • GE IIoT
    Both Lyft and Uber would be f***ed up just like ours given current economic conditions and cash reserves in these companies
    Dec 63
    • Uber Rocco69
      Naa, GE is not a real tech company. Uber and Lyft are innovative and will adapt.
      Dec 6
    • Uber chumchum
      Rideshare hasn't killed 1000s of ppl through negligence yet
      Dec 7
    • GE IIoT
      Looks like Uber did hire some dummies. Good luck.
      Dec 7
  • Intel hefK17
    Is it good to join Lyft now (I.e before IPO) ?
    Dec 62
    • Uber Rocco69
      Yes. Assuming you get hired
      Dec 6
    • Its a great time to join; do it; but hit the ground running as there are a LOT of things that MUST be completed by the IPO deadline.
      Dec 8
  • Uber (Admin)
    It's really irrelevant. Even what happens to Uber's stock price in the short-term is irrelevant. If we're doing the right things, the price will go up over time. Equity isn't salary; it's ownership so we care.
    Dec 61
    • Uber Rocco69
      No its money. We care, and it is also salary. Especially RSU, since you get taxed as soon as you vest (or vested shares at ipo)
      Dec 6
  • Google CRER20
    Stock market will tank before 2020. Better to IPO ASAP or wait 5 years. I guess neither Uber or Lyft could wait 5 more years.
    Dec 61
    • Uber Rocco69
      It's already tanking. It's mostly tech that will get killed. Everything is overvalued like in 2000
      Dec 6
  • @Golduser only when they stand up to the hype and overcoming: Being non profitable and losing billions, no tangible assets, Waymo’s competition with self driving cars, nearing recession, already subsidized trips, struggling self driving units, incredible cash burnout - with all these it takes at least 10 months for employees to cash out RSUs and a lot can happen in between. Good luck to them ...
    Dec 90
  • Zillow Group / Eng
    ZG18

    Zillow GroupEng

    BIO
    TC 275k
    ZG18more
    Congrats Lyft!
    Dec 60
  • Apple Icml2017
    I agree, no point thinking in short term. If Lyft and Uber do well they will at least hold on to their valuation and/or stock price will increase with time. It doesn’t matter if Uber or Lyft IPO’s first; both can coexist and flourish. Just IPO’ing and then having a sharp drop in stock price (eg Snap) won’t be of much use. But with that being said, this is an uncharted territory for public companies; so it will be interesting to see how stock market reacts.
    Dec 60
  • OP
    Super split verdict. If one looks at the results from all the 4 options, it is super close. I am amazed to see so many lyft fans.
    Dec 60
  • Amazon / Engsmsn sns
    Lyft has tried to use the recent bad PR for Uber rather than playing on strength. Interesting to see how it turns out.
    Dec 61
    • I talked to some Lyft employees and they said in 2016 the app and infrastructure gained a lot of reliability just as Uber tanked so it was more a case of being in the right place at the right time with the right focus.
      Dec 7
  • This comment was deleted by original commenter.

    • Lyft
      Durp

      Lyft

      PRE
      Buffalo Wild Wings, Advance Auto Parts
      Durpmore
      Monopoly would never be allowed, especially in this bear climate. Move on.
      Dec 8
  • Facebook acurious
    What will be the difference for people who are already at Lyft or some one who is sowtching now?
    Dec 60
  • Facebook acurious
    Congrats Lyft people
    Dec 60
  • Amazon / Eng
    whaaat!no!

    AmazonEng

    PRE
    Google, GlobalLogic
    whaaat!no!more
    There was a new that Amazon is interested in buying Lyft.. True?
    Dec 64
    • Wall Street will buy anything with Amazon tag. Even bull crap. Lyft would go crazy if that's true
      Dec 6
    • Facebook / DataJeef Besus
      I could see it. Instant access to drivers who might be willing to pick up and delivery a package for someone along the route.
      Dec 6
    • Oh my God. It's happening
      Dec 6
    • Prime Customers would get free rides to the post office to pick up their packages! :-)
      Dec 8
  • Weird, lunch @ Lyft all week included Ketchup in all the food areas, for the first time ...
    Dec 81
  • Medidata Solutions Hobbesian
    @Lyft’s Exec Management: Congrats! Y’all just hit the jackpot. You’re probably going to be okay if you decide to retire early. @Lyft Employees: Ladies/Gents consult an accountant concerning capital gains taxes if you believe you’ll see any monies coming your way. Also, your culture will change (maybe not significantly at first but you’ll see it soon enough if you decide to stick around) and the main driver will be profits. Remember your exec management team have to report every 3 months the status of the financials of the business you’re in. What does that mean for you? You better be producing and making sure you keep yourself relevant via playing the politics hardcore now otherwise, your seat’s for rent. Welcome to the big boys club folks we have apathy, roughly a 10% workforce reductions yearly, incompetent people in critical role and many other treats and games. Hope you enjoy the ride! :-)
    Dec 61
    • Lyft
      Durp

      Lyft

      PRE
      Buffalo Wild Wings, Advance Auto Parts
      Durpmore
      Thanks for this metadata solution! A lot of us have been through this before with other IPOs but your armchair insight here is invaluable.
      Dec 8
  • NetApp Golduser
    Now we will see rise in home buyers after 6 months. All uber and Lyft employees would seek for investments
    Dec 90
  • GE IIoT
    Per head employee valuation is impressive. However, hope it doesn’t end up like Snapchat given both are loss making and need to pass through looming recession
    Dec 60
  • Microsoft IcM_Alert
    This will be a good test run for Uber. If they fail Uber may want to hold off on IPO for a while.
    Dec 60
  • Oracle fatalflaw
    They may end up withdrawing or go ahead with whatever price they can get to catch the other side of a possible crash. It's better than uncertainty - but can't time the market.
    Dec 60
  • Amazon mbakdjjb
    Anyone became a millionaire with this IPO?
    Dec 63
  • Amazon / Engsmsn sns
    Uber filed too.. how are you guys feeling about this?
    Dec 80
  • Uber MagicShow
    That’s cute!
    Dec 60
  • Wayfair addA30
    These questions are not mutually exclusive.
    Dec 60
  • WP Engine justthisgu
    With the stock markets looking like they are going to take a dump this send like a bad time to IPO, could leave them susceptible to buy out
    Dec 60
  • OP
    What is the expected day when the stock will be live?
    Dec 60

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