Lyft said to start process to prepare for 2019 IPO

Lyft said to start process to prepare for 2019 IPO

An illuminated Lyft Inc. sign is seen on the dashboard of a ride share vehicle at Los Angeles International Airport (LAX) in Los Angeles, California, U.S. Photographer: Patrick T. Fallon/Bloomberg

Lyft Inc., the second-biggest U.S. ride-hailing company, has started the process for an initial public offering in an effort to beat Uber Technologies Inc. to the public markets, people familiar with the matter said.

Lyft has hired IPO adviser Class V Group LLC to work closely with management as they embark on the process, said people familiar with the discussions who asked not to be identified because the matter is private. The company plans to begin taking pitches from banks as soon as September, targeting March or April for the listing, the people said.

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