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Lyft works on IPO, aims to go public before Uber: report

Discussion in 'News' started by jocker12, Aug 31, 2018.

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  1. jocker12

    jocker12

    Location:
    Washington
    Trump Economics and jgiun1 like this.
  2. BubbaD2

    BubbaD2

    Location:
    USA
    Driving:
    UberX
    If investors do their homework they'll find out that many, many current and ex-drivers hate Lyft. Lyft is a terrible company, just as bad or worse than Uber.

    Their DF is crap and doesn't work for drivers, only for Lyft -- but I believe that's by design. And because of Lyft's ongoing passive-agressive games and abuse of drivers, many drivers now actively work to sabotage Lyft's reliability.

    Lyft pays a sign up bonus of hundreds of dollars according to ads. But it is really $2 or so per ride for some rides in the first 30 days.

    In one area/market I am familiar with Lyft rides are very hard to come by for drivers. Some Lyft-only newly onboarded drivers are having trouble grossing $3 an hour now.

    Lyft passengers are often extremely ghetto -- and this is due to Lyft taking pre-paid cards and Lyft offering lots of free rides to turds who never rode anything but the bus before Lyft came along offering rides in private cars at bus-like fares.

    I expect turnover in many areas to approach 99% before their crappy IPO next year. Maybe this will be an excellent opportunity to short the stock?
     
  3. Marco Solo

    Marco Solo

    Location:
    Seattle
  4. SEAL Team 5

    SEAL Team 5

    Location:
    Phoenix
    Driving:
    Livery
    NASDAQ 8000 DOW 26,000 and S&P 2900
    Who the hell needs a rideshare IPO? When Uber first came around in '08-'09 the Market was at a 13 year low. The S&P was below 700, the DOW below 7500 and the NASDAQ below 1700.

    So in the ten years since Uber has been in business they've lost about 70% of investors capital while the markets have gained about 400%.

    You need to organize a country wide drivers strike with the media in attendance to take place the morning of the listing. Even speculation of a drivers strike will plummet the stock.
     
    Yam Digger, Bulls23, Fostel and 6 others like this.
  5. another great short opportunity
     
  6. I would hope that they have ALL of their driver's making at least the minimum wage, in all states (after deducting the cost of the vehicle at .54 cents a mile) prior to that IPO or they are dead in the water.

    You can not put out a successful IPO without paying the labor at least the minimum wage. It's not sustainable.
     
  7. Uber's Guber

    Uber's Guber

    Location:
    United States
    Driving:
    UberX
    There remains an endless supply of new ants to keep Lyft’s driving force sustainable, and that is the present goal until such time that the future of transportational logistics has morphed into an industry that no longer depends on needing drivers to perform the duties currently required.
    You lack vision. Investors are investing in the future. Your ability to make a living today is of little consequence.
     
  8. Jufkii

    Jufkii

    Location:
    cedar rapids
    Driving:
    UberX
    Haven't heard anything about their financials. Are they losing only millions compared to Ubers billions?
     
  9. https://techcrunch.com/2017/11/14/unpacking-lyfts-projected-financials/

    But before we talk about now and tomorrow, Bergen and Newcomer report that Lyft lost $606 million against $708 million in net revenue in 2016. Net revenue represents the company’s cut of fares, making it far smaller than the firm’s gross merchandise volume (or ridesharing equivalent metric).


    Lyft is in the same boat,

    They both know the gig is up and are trying to stuff suitcases full of money before they disappear.

    Having one IPO before the other won't make much difference.
     
  10. yes, they lose hundreds of millions every year.


    this is my favorite part of the cycle. the part where the tide recedes and we see everybody is swimming with no shorts on. it's going to be fun to watch when scandals (more of them) start popping up and the finger pointing begins.
     
    leroy jenkins likes this.
  11. Jufkii

    Jufkii

    Location:
    cedar rapids
    Driving:
    UberX
    Another great short opportunity indeed then.
     
    SoCal Uber Clone likes this.
  12. There is no question that the wage and hour laws are going to come into play here. It's just a matter of time and how fast the current and future cases wind their way though the court system. It could take one ruling to make this happen.

    If Lyft floats and IPO and ignores this issue, the organizers and promoters could be personally liable for fraud and other damages to the investors when this thing blows up.

    Sorry, but it can not be ignored no matter how anyone wants to spin this.
     
  13. uberdriverfornow

    uberdriverfornow

    Location:
    no
    The suckers that have been continually investing in them over the years refused to reign in their spending and to ensure that they have a profitable business model so when the cat is away the mice are gonna play. And they've been pocketing all kinds of money while blowing the rest for years. Last year we saw the exodus of all of the major execs, cashing in their chips. Then we saw a major stock buyout of others over the last year. Next up is to IPO out the rest to a bunch of other suckers....oops, I mean investors. However, I can't really see them getting people to buy their worthless stock in these IPO's unless they really put the propaganda machine into service in the run up to the IPO. We'll see.
     
    leroy jenkins likes this.
  14. Lee239

    Lee239

    Location:
    Lee county fl
    How much does Lyft claim to be worth, and how do these companies making money by running an automated app who do not pay for car gas etc all lose money?
     
  15. uberdriverfornow

    uberdriverfornow

    Location:
    no
    by charging 60 percent less than what they can actually get from pax, which is also less than we get paid, that's how

    and they've been doing this for many years now

    they are looking to recoup that money by now refusing to pay drivers any more surge in certain markets, looking to push that into more markets, atleast until there is a real backlash that makes drivers stop driving in droves until they put the old arrangement back
     
    Jdemonto and leroy jenkins like this.
  16. Jo3030

    Jo3030 Moderator

    Location:
    Washington DC
    Driving:
    UberX
    "Good luck"
     
    leroy jenkins and TwoFiddyMile like this.
  17. The Lyft IPO will be a good preview to see what the Uber IPO will do.
     
  18. The *ONLY* thing uber and lyft have been successful at is propaganda,

    Don't count that portion of their business out before they a court order barring advertisements.

    That of course, is the final nail in the coffin of every great scam.
     
  19. I see a new episode of "American Greed" on the horizon... Warm up your voice Stacey Keach...
     
  20. touberornottouber

    touberornottouber

    Location:
    Volusia County, FL
    Driving:
    UberX
    Here based on the amount of rides I get Lyft is beating the * out of Uber. I'd definitely consider buying Lyft stock and shorting Uber!
     

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