LYFT REVEALS BIG GROWTH BUT NO PROFITS AS IT READIES FOR IPO
Lyft is growing quickly ahead of its initial public offering but continues to bleed money and may struggle to turn a profit as it tries to catch up to Uber in the booming ride-hailing market, according to a federal filing.
The company released its financial details for the first time last week, giving the public a glimpse into its performance before deciding whether to buy into a transportation trend that has changed the way tens of millions of people get around. The unveiling came nearly three months after the San Francisco company filed confidential documents for its initial public offering of stock.
Lyft reported $2.2 billion in revenue last year — more
