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Lyft's IPO oversubscribed on road show's second day

Updated : March 20, 2019 07:31 AM IST

The development indicates that many investors are willing to overlook uncertainty over Lyft's path to profitability and its strategy for autonomous driving, for fear of missing out on the biggest and most high-profile technology IPO since Snap Inc in 2017.
Lyft started its IPO roadshow on Monday and has spent the last two days meeting with investors in New York, the sources said. It has set an indicative IPO price range of $62 to $68 per share and is set to price the IPO on March 28.
Lyft's progress in its IPO could bode well for larger rival Uber Technologies Inc, which is planning to kick off its IPO in April, Reuters has reported. It has been valued by investment bankers at as much as $120 billion.
Lyft's IPO oversubscribed on road show's second day

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