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 by Staff Writers Washington (AFP) Dec 6, 2018
Ride-hailing firm Lyft on Thursday launched the process to take the company public with a stock offering. However, Lyft -- whose main competitor Uber also wants to enter the stock market -- has not released any details on the initial sales price or the number of shares to be offered, since the document filed with regulators was confidential. The IPO will take place once the Securities and Exchange Commission (SEC) has reviewed the sealed documents. According to the Wall Street Journal, the IPO of the company that is currently valued at just over $15 billion, could take place in the first half of 2019. Lyft and Uber, both based in San Francisco, have been in a heated race in the US market. Lyft has discussed international plans but so far has expanded only to a handful of cities in Canada. The two firms are also battling in the emerging market for electric bikes and scooters in major cities.
Madrid orders removal of electric scooters Madrid (AFP) Dec 4, 2018 Madrid's city hall said Tuesday it had refused to grant a licence to three electric scooter-share companies and gave them 72 hours to remove their scooters from the streets of the Spanish capital. The city justified the move on the grounds that Lime, Wind and VOI were not doing enough to inform people of their usage rules. Lime, which is partly owned by ride-hailing Uber and Google parent company Alphabet, and the other two firms distributed electric scooters across the capital earlier this year ... read more
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