Lyft is preparing to take its first step toward an IPO
- Thursday, September 28th, 2017
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Lyft is edging closer toward becoming a publicly traded company, as it is reportedly nearing the hiring of an initial public offering (IPO) advisory firm.
The IPO advisory firm will help Lyft’s management select underwriters and lay out plans for the public offering. According to Reuters, citing people familiar with the matter, the IPO could come as early as next year, but these timings could still change.
The ride hailing company is said to have already finished the interviews for the picking of the advisory firm and is expected to make a decision soon. 
On top of Lyft’s IPO ambitions, there has recently been talk that Google parent Alphabet could be lining up a $1bn (£756m) investment in the company.
Lyft’s activity in building toward an IPO comes as its rival Uber continues to deal with a long list of scandals, controversies, legal issues, and licensing issues that show no signs of going away – even with a new CEO at the helm in the shape of Dara Khosrowshahi. Uber CEO Khosrowshahi has set a timeline of 18 to 36 months for the company to head toward an IPO of its own.
