Lyft has kicked off its roadshow for an initial public offering and is expected to set its share price at between $62 and $68 per share, according to an updated prospectus the ride-hailing company filed with the US Securities and Exchange Commission on Monday.
That means its valuation could be somewhere between $21 billion and $23 billion, according to The Wall Street Journal. Currently, as a private company, the ride-hailing company is valued at about $15 billion.
Lyft will be listing on the Nasdaq using the ticker symbol LYFT. Its IPO could arrive as soon as the end of the month.
Lyfton March 1 saying it plans to "revolutionize transportation" and be the "defining brand of our generation."
In its filing, Lyft said iton $8.1 billion in bookings, showing year-over-year growth of 103 percent in sales and 76 percent in bookings. However, it also lost $911.3 million in 2018, up from a net loss of $682.8 million in 2016 and $688.3 million in 2017.
Lyft is the first US ride-hailing company to be heading to the stock market. But rival Uber is gearing up to go pubic this year too. Uber submitted paperwork to the SEC for an IPO in early December. It's expected to garner a valuation as high as $120 billion.