Law360 (March 6, 2019, 9:19 PM EST) -- As Lyft Inc. prepares for what could be the first major initial public offering of 2019, the ride-hailing company has acknowledged that it’s up against a host of business challenges, including new regulation and lawsuits disputing the employment status of its drivers.
Lyft filed March 1 for an initial public offering that is estimated to raise $100 million, bluntly laying out in documents for potential investors that annual losses totaling hundreds of millions of dollars in the fiercely competitive ride-sharing market have eaten into its profitability.
“To a certain extent, we’re dealing with new territory with these ride-share companies, and Lyft acknowledges much...
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