Venture backers reap multi-billion dollar payday in Lyft IPO

Venture backers reap multi-billion dollar payday in Lyft IPO

A Lyft Inc. decal is displayed on a car window in Los Angeles, California, U.S., on Monday, Nov. 13, 2017. Photographer: Patrick T. Fallon/Bloomberg

Lyft Inc’s initial public offering on Thursday marked the latest chapter in the seven-year journey of the U.S. ride-hailing app, from a startup backed by seed funding to a publicly traded company worth more than $27 billion.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter