Mar 18, 2019

Lyft says it wants to raise $2 billion in IPO

Illustration: Rebecca Zisser/Axios

Ride-hail company Lyft on Monday disclosed that it hopes to raise over $2 billion in its IPO, at an initial market cap that could top $19 billion. The company will offer 30.77 million shares at between $62 and $68 per share, with its so-called IPO road-show kicking off today.

The bottom line: The top-range market cap is higher than Lyft's $15 billion valuation when it last raised private funding in the summer of 2018, but the low-range market cap would actually be a bit lower. In both cases, however, the fully-diluted valuation would be significantly higher, at a range of between $23 billion and $25.3 billion.

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Pope Francis delivers Palm Sunday sermon to empty St. Peter’s Basilica

Photo: Alberto Pizzoli/POOL/AFP via Getty Images

Pope Francis called on listeners in his Palm Sunday sermon — on the first day of Holy Week — to "reach out to those who are suffering and those most in need" during the coronavirus pandemic, Reuters reports.

Why it matters: Francis delivered his message inside an empty St. Peter’s Basilica, broadcasting it over the internet to churches around the world.

Go deeperArrow26 mins ago - World

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:30 a.m. ET: 1,213,927 — Total deaths: 65,652 — Total recoveries: 252,391Map.
  2. U.S.: Total confirmed cases as of 7:30 a.m. ET: 312,245 — Total deaths: 8,503 — Total recoveries: 15,021Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. The virus is hitting poor, minority communities harder and upending childbirth.
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August."
  5. Business updates: Restaurants step up for health care workers. Employees are pressuring companies to provide protections during coronavirus.
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Education update: Many college-age students won't get coronavirus relief checks.
  8. 1 🏀 thing: The WNBA postpones start of training camps and season.
  9. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Virus vices take a toll on Americans

Illustration: Sarah Grillo/Axios

Americans are doubling down on their worst habits to cope with the mental and emotional stress of the coronavirus pandemic.

Why it matters: The pandemic will have a long-lasting impact on health of the American people, in part due to the habits they will pick up during the weeks and months they are forced to stay home.

Go deeperArrow2 hours ago - Health