Numerous SPV structures could be why Lyft, Uber IPOs flopped

Numerous SPV structures could be why Lyft, Uber IPOs flopped

Photo: Reuters

The dismal debuts of Lyft Inc. and Uber Technologies Inc. sparked hand-wringing and a search for scapegoats. One theory gaining ground centers on the high number of special purpose vehicles that invested in the twin ride-hailing giants when they were private companies.

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