Tradeweb Markets IPO 2019: Date, Valuation, Revenue, Growth, Share Price and Estimates

Tradeweb Markets IPO 2019: Date, Valuation, Revenue, Growth, Share Price and Estimates

Shares of Lyft (LYFT) surged as much as 13.6% on Friday, the inaugural day of trading for the ride-sharing company on public markets.

It looks like this delicate balance was achieved with Lyft, which sold its IPO last week at $72 a share, bumping up the price from $68 at the last minute, to raise $2.3 billion.

Lyft's eponymous app allows people to book taxi rides using global positioning technology on their smartphones. Over the coming months companies including Lyft rival Uber, Airbnb, Pinterest, Slack and WeWork are all expected to join the markets.

Lyft, as of December, had 39 percent market share in the USA, up from 35 percent early past year.

Public market investors, keen on Lyft's revenue growth and after enduring a long stretch with few IPOs from highly valued tech companies, piled into the offering.

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Lyft's stock began trading near $90 on Friday, but quickly retraced those gains as investors took profits.

What's more, the company had 18.6 million "Active Riders" and over 1.1 million drivers for the quarter ended December 31, 2018 - both well above 2017 levels. These are high-growth companies, with even higher propensities to burn through capital, and they're built around compelling narratives of world-altering potential.

Questions about the company's valuation and, for that matter, the valuation of other newly-minted public companies, have sparked debate about the rationality being applied to these so-called unicorns.

The shares had opened at $87.24 in their Nasdaq debut on Friday, up 21 percent from their IPO price, then pared gains to close up almost 9 percent, valuing Lyft at $22.2 billion.

Investor demand for the initial stock offering was strong, with boosters pointing to Lyft's accelerating growth - its revenue doubled previous year to $2.2 billion and its ridership surged. While they are fast growing, stock market investors have recently shown little patience for hot tech companies that do not have a clear path to profitability.

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