Lyft is raising some US$2.5 billion in its Wall Street offering, which is seen as turning point for the ride-hailing business and the so-called "sharing economy."[WASHINGTON] Lyft is raising some US$2.5 billion in its Wall Street offering, which is seen as turning point for the ride-hailing business and the so-called"sharing economy."
"Ridesharing has transformed our lives, making it easier and cheaper to get where we need to go, and it's pioneering an undeniable trend toward transportation as a service," said a research note this week from Gene Munster and Will Thompson of the investment firm Loup Ventures. Uber and Lyft are among the most prominent firms in the sharing economy, which also includes home-sharing platform Airbnb, and highlight a trend away from ownership to services.Lyft says it aims to play a growing role in the US$1 trillion US transport sector. But analysts point out that competition is growing and that any investment may be risky.
"Lyft is shooting itself in the foot by going public, as I continue to think that the company is not ready for the harsh glare of the public market and it is giving away a big edge that it could have had over Uber," Windsor writes.
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Source: BusinessTimes - 🏆 15. / 51 Read more »