And lyft files for ipo

Dec 6, 2018 125 Comments

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

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TOP 125 Comments
  • Dropbox nvp
    congrats lyft friends!
    Dec 6, 2018 0
  • Dexcom xXhT11
    I believe several image conscious companies have made Lyft-only policies. Maybe they still have momentum from Uber's issues?
    Dec 6, 2018 16
    • Uber / Eng lil Blind
      _next_ that happened. I guess your point is a twitch employee would never stand up for anybody in real life.
      Dec 6, 2018
    • Microsoft / Eng
      Jishvm86

      Microsoft Eng

      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, 2018
    • Uber / Eng lil 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, 2018
    • Microsoft / Eng
      Jishvm86

      Microsoft Eng

      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! 😂😂👏🏼🤷🏻‍♂️
      Dec 13, 2018
    • Uber / Eng lil Blind
      🐏🐏🐏🐏 can’t make up your use of emojis either! Baaaaaah
      Dec 13, 2018
  • Verizon PinkyBrain
    Do you even lyft bro
    Dec 6, 2018 1
  • Pinterest No-ML
    Congrats Lyft folks!
    Dec 6, 2018 0
  • LinkedIn 🍿❤️
    Can anybody educate me why does the timing matter? Like why does it seem like whoever IPOs first wins?
    Dec 6, 2018 6
    • Verizon PinkyBrain
      Ah, must’ve learned a fidelity term. I must disagree though, seems a bit squirrelish
      Dec 6, 2018
    • Google / Eng UUKg61
      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, 2018
    • Uber / R&D jidao
      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, 2018
    • 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, 2018
    • 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 7, 2018
  • 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 6, 2018 0
  • New 0hedge
    Cashing out and soaking up investor dollars in the segment before Uber can.....smart
    Dec 6, 2018 4
    • Citibank / Finance $$>RSU
      Once public they’re open to public scrutiny (see Tesla) and that’s not what you want going into a recession. Not smart.
      Dec 6, 2018
    • New 0hedge
      Only if you are long....most will be happy to sell it all. Next tech bubble is another 15 years away.
      Dec 6, 2018
    • Citibank / Finance $$>RSU
      So the bear market tech fell into over the last 30 days is a fluke?
      Dec 6, 2018
    • Indeed / Other
      TC1Billi

      Indeed Other

      PRE
      Lyft
      TC1Billimore
      Where u get next tech bubble is 15 years away lol
      Dec 6, 2018
  • Google / Eng
    Evenflow

    Google Eng

    PRE
    Northrop Grumman
    Evenflowmore
    Dang, wish I didn't bomb my Lyft phone screen a few weeks ago now!
    Dec 6, 2018 7
    • Google / Eng
      Evenflow

      Google Eng

      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, 2018
    • Amazon / Eng HelloGuys
      14? :) wow. What are these places? When do you have time to attend some many interviews?
      Dec 7, 2018
    • Google / Eng
      Evenflow

      Google Eng

      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, 2018
    • Amazon / Eng HelloGuys
      Which phone screens were hard? If any.
      Dec 8, 2018
    • Google / Eng
      Evenflow

      Google Eng

      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, 2018
  • 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 6, 2018 5
    • 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, 2018
    • OneMarket ri0ts
      Coz Uber is handing it to them? 🤣🤣🤣
      Dec 6, 2018
    • 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, 2018
    • 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, 2018
    • Uber Rocco69
      Nope. But thanks for the strawman argument. Whole foods made total sense with Amazon Fresh etc
      Dec 6, 2018
  • 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 6, 2018 5
    • 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, 2018
    • 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, 2018
    • 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, 2018
    • 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, 2018
    • 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, 2018
  • Facebook / Eng obov5566
    Lyft engineers are getting rich 🤑🤑
    Dec 6, 2018 4
  • GE IIoT
    Dec 6, 2018 0
  • 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 6, 2018 2
    • If they wait too long to IPO they will have to do another private stock sale
      Dec 6, 2018
    • 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, 2018
  • 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 10, 2018 0
  • VMware bookman
    An IPO before Google Wymo becomes mainstream is important for self driving companies, Wymo mainstream will kill their valuations
    Dec 6, 2018 5
    • Uber / Eng HowdyPardn
      Waymo has a few hundred customers in Arizona currently, I think you might be overestimating their scale
      Dec 6, 2018
    • Uber Rocco69
      Waymo is a scam. Self driving will be ready in 2030, maybe
      Dec 6, 2018
    • 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, 2018
    • 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, 2018
    • 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, 2018
  • 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 6, 2018 3
    • PTC / Eng
      IndianAudi

      PTC Eng

      PRE
      ptc, IBM, SAP
      IndianAudimore
      Probably the latter as investors are holding cash in a safer place as interest rates go upz
      Dec 6, 2018
    • 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, 2018
    • 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, 2018
  • Facebook GE+DaSJW
    I'm jealous. Should have joined Lyft.
    Dec 6, 2018 2
    • Uber Rocco69
      Not too late
      Dec 6, 2018
    • Join us and prosper.
      Dec 7, 2018
  • Nextdoor / Mktg Z5gk3z
    1
    Dec 6, 2018 2
    • Wayfair addA30
      Why? They're selling their stock at the top.
      Dec 6, 2018
    • 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, 2018
  • 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 6, 2018 1
    • Amazon !JeffBezos
      Probably recruiting talent.
      Dec 6, 2018
  • Uber Rocco69
    Congrats
    Dec 6, 2018 0