It's been four months since
and now it appears to be losing its chief operating officer. Jon McNeill is reportedly stepping down from the role, Lyft became a public company according to CNBC, which cites a person familiar with the situation. Lyft declined to comment.
The ride-hailing company has experienced a bumpy ride since its debut on the
stock market at the end of March. After a , it's been a downhill journey. strong first day of trading Two sets of stockholders have sued the company for misrepresenting the strength of its business. Lyft's from $22.2 billion in March to $18.6 billion today. market value has also dropped
Lyft isn't the only ride-hailing company to be having a hard time going public. Rival Uber has also seen flat trading and a loss of top executives. Along with
from Uber's board over the last two months, the company's three board members stepping down . Both companies have also seen the Chief Operating Officer Barney Harford also left . departures of their chief marketing officers
joined Lyft as COO in February 2018. He came to the ride-hailing company from Tesla, where he served as the president of global sales and service.
Separately on Monday,
in its marketing department, according to Uber reportedly laid off 400 people The New York Times.
Watch this: Uber rings in its IPO
Originally published July 29, 12:05 p.m. PT
Update, 1:47 p.m.: Adds report of layoffs at rival Uber.