The ride-hailing industry is witnessing a lot of changes lately. Moving from car services to cycles, to pressing autonomous cars into service, etc., this industry is seeing a lot of things happening rapidly. Now, two giants, Uber and Lyft have decided to go public. Both companies have already filed the necessary S-1 paperwork with the U.S. Securities and Exchange Commission, confirming their intent to go public on the New York Stock Exchange.

Buy Stock In Uber and Lyft

According to Wall Street Journal, Uber filed its paperwork confidentially earlier this week, just a few days after Lyft did. Sources reveal that Lyft is eyeing a March or April IPO debut. Another report from Bloomberg states that if Uber does not list itself by the end of next year, investors will be free to sell their shares on the private markets.

Money Matters

Speaking in numbers, a public listing could see Uber raise as much as $120 billion, Bloomberg states. Lyft is still unclear as to how many shares it will sell in the listing or the potential price range for the stock. JP Morgan Chase & Co., Credit Suisse Group AG, and Jefferies Financial Group Inc. will be involved with Lyft to take it public. These banks have pitched valuations from about $18 billion to $30 billion for Lyft.

It’s A Cat-Fight

In the third quarter of 2018, Lyft reported revenues of $563 million and lost $254 million, whereas Uber lost $1.1 billion in the third quarter on $2.95 billion in revenue. Do you think this is a wise move by the two giants? Let us know your thoughts in the comments section below.

Further reading

Read more Uber news.