Updated: March 29, 2019
Over the past few years, ride-sharing companies have been the talk of the town with regards to transportation. Companies like Uber, Grab, and Angkas have been grabbing headlines since they started operations.
Now, the global industry is about to get even more attention with Lyft, Uber’s main competitor in the US. Because it’s about to become the first US ridesharing company to go into an IPO or Initial Public Offering.
This projected $20 billion IPO means that Lyft will be listed in the US Nasdaq Exchange. And investors like you and I will be able to purchase and own shares of the company’s stock.
But before this event, let’s first take a look at some facts about Lyft, the ride-sharing industry, and finally, how we can invest in them and be a part of the company’s growth.
Lyft and Uber are the main players in the ride-sharing industry in the US. Where Uber is more mature and invests in different areas like food delivery and shipping, Lyft is leaner and squarely focused on the US ride-sharing market.
Aside from just car hailing, they’ve invested into bikes and scooters as well. They even acquired a bike-sharing company called Motivate.
Huge ride-sharing industry
In a market study conducted, the US ride-sharing industry was estimated to be $61.3 billion last year and is expected to grow to a whopping $218 billion in the next 6 years. As of last year, Lyft controlled around 28% of this market while Uber controlled 69%.
Lyft as a worthy challenger
Both Lyft and Uber’s revenues grew last year, but Lyft grew twice as fast as Uber in the same period, growing by 32%.
When you factor in the fact that Lyft only focuses on ride-sharing with cars and so far only in the US, you can clearly see why they are aiming for a $20 billion valuation and that they are very well placed to challenge Uber.
Trade and Invest in Lyft at eToro
Lyft’s projected $20 billion IPO will take place tonight in the US with trading for the public available on Friday.
eToro clients can start being a part of this by investing or trading Lyft on Monday, April 1st with a minimum 1st investment of $200 and can buy Lyft with as little as $50.
Since eToro will make Lyft available on Monday, clients can get to know the platform and prepare their accounts over the weekend before trading starts.
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