Lyft soars in trading debut after raising $2.34b in IPO

Lyft soars in trading debut after raising $2.34b in IPO

Confetti falls as John Zimmer, co-founder and president of Lyft, center left, and Logan Green, co-founder and CEO of Lyft, center right, ring the opening bell during the company's IPO at Lyft's new service center in Los Angeles on March 29, 2019. Photographer: Kyle Grillot/Bloomberg

Lyft Inc., the No. 2 U.S. ride-hailing giant, soared in its debut after raising $2.34 billion in an initial public offering that priced at the top of an elevated range, sending an encouraging signal to the stampede of Silicon Valley companies lining up to go public this year.

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