Lyft’s IPO Debacle and the Challenges of Unprofitable Unicorns

On March 29, 2019, the popular ride-sharing startup Lyft officially debuted on the Nasdaq Stock Market, capping off more than a year of speculation and supposed investor fervor over access to the next tech unicorn. Opening at a price of $87.24 a share – 21 percent above the initial public offering (IPO) price of $72 offered to pre-IPO investors – the market gave the company an approximate valuation of $30 billion. Within the next few Continue Reading →