Photo: Lyft

Ride-hailing company Lyft has filed to go public on the Nasdaq under the symbol "LYFT," according to an anticipated SEC filing.

Why it matters: Lyft is part of a cohort of large private Silicon Valley tech companies that have taken years to go public — and it's beaten rival Uber to the IPO punch.

By the numbers:

  • In 2018, Lyft says it had $8.1 billion in bookings, $2.2 billion in revenue, and more than 1 billion total rides. It had 30.7 million riders and 1.9 million drivers.
  • As expected, Lyft says it's not profitable. In 2016, 2017 and 2018, Lyft's revenue was $343.3 million, $1.1 billion and $2.2 billion, respectively, but it had net losses of $682.8 million, $688.3 million and $911.3 million in each of those respective years.
  • As of Q4 2018, Lyft had 18.6 active riders.
  • Over two years—between Q4 2016 and Q4 2018—Lyft roughly doubled its revenue per rider, from $18.53 to $36.04, meaning that it's been able to get riders to take more rides while spending less on promotions, among other factors.
  • Its "revenue as percentage of bookings" (or what portion of Lyft rides Lyft gets to keep) has also grown over time, hitting 28.7% in Q4 2018.

Corporate:

  • Though Lyft founders John Zimmer and Logan Green each own a small portion of the company (3.09% and 4.13%, respectively as of Feb. 7), they will likely gain a greater share of voting rights thanks to a new class of shares that will give them 20 votes for each share. It's currently unclear if they'll have majority control or not.
  • In March 2018, Zimmer, Green and other stockholders sold $58.7 million worth of stock via a tender offer at $38.50 per share.

Autonomous driving:

In the next five years, our goal is to deploy an autonomous vehicle network that is capable of delivering a portion of rides on the Lyft platform. Within 10 years, our goal is to have deployed a low-cost, scaled autonomous vehicle network that is capable of delivering a majority of the rides on the Lyft platform. And, within 15 years, we aim to deploy autonomous vehicles that are purpose-built for a broad range of ridesharing and transportation scenarios, including short- and long-haul travel, shared commute and other transportation services.
— Lyft, per its IPO filing
  • Lyft says it has "facilitated over 35,000 rides in Aptiv autonomous vehicles with a safety driver since January 2018."
  • From 2017 to 2018, Lyft's research and development spend went up 120% to $300 million largely because of its push into autonomous driving technology.

Bikes, scooters, miscellaneous:

  • Lyft confirms that it paid just over $250 million in cash to acquire Motivate, a bike-sharing company that operates bike rentals in a number of cities.
  • As of Dec. 31, Lyft had $23.3 million worth of scooters not deployed yet.
  • Last year, the company expanded its car rental program for drivers, which generated $54.8 million in revenue for the year. The company says it was not material in the prior years.
  • Lyft plans to spend $300 million on Amazon Web Services between 2019 and 2021.

Editor's note: The story has been updated with additional information from Lyft's IPO filing, and has been corrected to show the founders' stakes as of Feb. 7 (not less than 1% as the latest document shows, which is a placeholder amount).

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,020,216 — Total deaths: 761,393— Total recoveries: 13,048,303Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,289,323 — Total deaths: 167,948 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health.
  4. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.

Facebook goes after Apple

Illustration: Lazaro Gamio/Axios

Facebook is seeking to force a face-off with Apple over its 30% in-app purchase commission fee, which Facebook suggests hurts small businesses struggling to get by during the pandemic.

The big picture: Facebook has never publicly gone after Apple, a key strategic partner, this aggressively. Both companies face antitrust scrutiny, which in Apple's case has centered on the very fee structure Facebook is now attacking.