A Lyft IPO is in the works at the moment as the company is advancing talks with parties who will help it get where the company needs to be.
The company is reportedly close to hiring an IPO advisory firm as it looks to start selling its stock publicly, offering Lyft a new round of investing. Such a move will likely happen before Uber Technologies goes public as the company’s new CEO Dara Khosrowshahi said it will likely go public in between 18 and 36 months.
It is unclear which IPO advisory firm is in the lead to sign with Lyft, but the move would help the company select underwriters and iron out the details of the offering. The IPO could come as soon as next year, according to sources that asked to remain anonymous because the talks are confidential.
The IPO advisory firm it will hire could be announced sooner rather than later. Lyft’s valuation is still up in the air, but the company was valued at $7.5 billion in its latest funding round in April, when it raised $600 million in fresh funding from investors, including private equity firm KKR.
More than a year ago, the company’s valuation was at $5.5 billion. Meanwhile, competitors Uber were valued at $68 billion during the company’s latest funding round.
Lyft is currently available in 40 states and it has reached 94% of the population in the U.S.