Confetti falls as John Zimmer, co-founder and president of Lyft Inc., center left, and Logan Green, co-founder and chief executive officer of Lyft Inc., center right, ring the opening bell during the company’s initial public offering at Lyft’s new service center in Los Angeles on March 29, 2019. Photo: Kyle Grillot/Bloomberg
Lyft made its public market debut on the Nasdaq under the ticker symbol “LYFT” on Friday, trading at $87.24 a share—20 percent above its IPO price of $72.
San Francisco-based Lyft, advised by Wilson Sonsini Goodrich & Rosati, said Thursday that it priced 32.5 million shares at $72 apiece, up from its first price range of $62 to $68. At the IPO price, Lyft has raised about $2.3 billion from the listing, valuing the ride-sharing company at about $24 billion.
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