Lyft officially kicked off the road show for its initial public offering, putting 30 million shares up for sale Monday with an anticipated price of between $62 and $68 per share.
That would raise more than $2 billion for the San Francisco ride-hailing company, which could be valued between $20 billion and $25 billion eventually.
Lyft and Uber have raced to be first with an IPO, and Lyft's rival is expected to offer shares in the coming weeks.
Lyft released financial details about the company for the first time this month, reporting $2.2 billion in revenue last year, more than double its $1.1 billion in revenue in 2017, but also $911 million in losses. Lyft has lost nearly $3 billion since 2012, but has brought in more than $5 billion in venture capital.
The company's executives warned that the company could struggle to turn a profit, despite a rapidly growing market share.
The company's share of the U.S. ride-hailing market was 39 percent in December 2018, up from 22 percent in December 2016, according to its filing. The $2.2 billion in revenue for 2018 was about double what it brought in the previous year.
Bookings, which represent Lyft's fares after subtracting taxes, tolls and tips, have been rising dramatically — a trend that the company intends to highlight to potential investors. Lyft's bookings surpassed $8 billion last year, 76 percent more than in 2017 and more than four times the number from 2016.
Lyft's recent market-share gains came as Uber was dogged by reports that drivers accosted passengers and that the company tolerated rampant sexual harassment internally. Those problems ultimately led its co-founder Travis Kalanick to resign. Uber has been working to repair its image under CEO Dara Khosrowshahi.
Lyft said it would offer 30,700,000 shares of its common stock to the public and give underwriters the option to buy up to 4,615,500 mores shares.
ISLAMABAD (AP) — Iran’s IRNA news agency said on Saturday that after progress in indirect discussions, negotiations have begun between the United States and Iran.
The country’s state-run news agency said three-party talks with the U.S., Iran and Pakistan had begun after a reduction in Israeli strikes on southern Lebanon and other preconditions being met.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
ISLAMABAD (AP) — U.S. and Iranian officials held separate talks with Pakistan’s prime minister on Saturday amid a ceasefire made fragile by deep disagreements and unabated fighting in Lebanon.
A U.S. delegation led by Vice President JD Vance and an Iranian delegation led by Parliament Speaker Mohammad Bagher Qalibaf each met with Pakistani Prime Minister Shehbaz Sharif, according to his office. No direct U.S.-Iran talks had been announced as of mid-afternoon.
Iran doubled down on parts of its earlier proposal, with its delegation telling Iranian state television it had presented some of the plan’s ideas as red lines in meetings with Sharif.
Meanwhile, Israel pressed ahead with strikes in Lebanon even as Iran conditioned ceasefire talks on a pause in fighting there. The Lebanese state-run news agency reported that Israeli strikes on Saturday killed at least three people.
The war has killed at least 3,000 people in Iran, 1,953 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states. It has largely cut off the Persian Gulf from the global economy, sending energy prices soaring and inflicting lasting damage on infrastructure in half a dozen countries in the region.
In Tehran, residents told The Associated Press they were skeptical yet hopeful about the talks after weeks of airstrikes carved a path of destruction across their country. Some said even if one is reached, the path to recovery will be long.
“Peace alone is not enough for our country, because we’ve been hit very hard, there have been huge costs, and the people have to pay for that,” 62-year-old Amir Razzai Far said in downtown Tehran.
U.S. and Iranian officials claimed leverage and issued new demands and preconditions as talks approached. President Donald Trump posted repeatedly on social media leading up to Saturday, saying Iranian officials “have no cards” to negotiate with.
“The only reason they are alive today is to negotiate!” he wrote.
He accused Iran of using the Strait of Hormuz, a key artery for global energy supplies, for extortion, and told reporters on Friday it would be opened “with or without them.”
Islamabad was deserted Saturday as security forces sealed roads and authorities urged residents to stay inside, leading the normally bustling Pakistani capital to look like it was under curfew.
Vance said on Friday the U.S. was optimistic about the talks, but warned: “If they’re going to try and play us, then they’re going to find that the negotiating team is not that receptive.”
Iranian Foreign Minister Abbas Araghchi said Tehran was entering negotiations with “deep distrust” stemming from prior strikes on Iran during previous rounds of talks. Araghchi, who is part of Iran's delegation in Pakistan, said on Saturday that his country was prepared to retaliate if it was attacked again.
Iran and the United States outlined competing proposals ahead of the weekend talks reflecting the wide gulf between the two sides on key issues.
Iran published a 10-point proposal. It called for a guaranteed end to the war and no future attacks. It demanded an end to economic sanctions and sought control over the Strait of Hormuz. It also included ending fighting against Iran’s “regional allies," explicitly calling for a halt to Israeli strikes on Hezbollah, the Iran-backed Lebanese militant group.
The United States submitted a 15-point proposal that includes restricting Iran’s nuclear program and reopening the strait.
Negotiations between Israel and Lebanon are expected to begin Tuesday in Washington, Lebanese President Joseph Aoun’s office said Friday.
Israel wants the Lebanese government to assume responsibility for disarming Hezbollah, much like was envisaged in a November 2024 ceasefire. But it is unclear whether Lebanon's army can establish a monopoly on arms or confiscate weapons from the militant group, which has survived efforts to curb its strength for decades.
Israel’s insistence that the ceasefire in Iran does not include a pause in its fighting with Hezbollah has threatened to sink the deal. The militant group joined the war in support of its backer, Iran, in the opening days of the war.
The day the truce was announced, Israel pounded Beirut with airstrikes, killing more than 300 people in the deadliest day in the country since the war began Feb. 28, according to the Lebanese Health Ministry.
Iran’s closure of the Strait of Hormuz has proved its biggest strategic advantage in the war. Commercial vessels have avoided the strait, effectively blocking the passage of oil, natural gas and fertilizer.
The spot price of Brent crude, the international standard for oil prices, was above $94 on Saturday, up more than 30% since the war started.
Before the conflict, around a fifth of the world’s traded oil typically passed through the strait on more than 100 ships a day. With the ceasefire in place, only 12 have been recorded traversing the strait.
Iran has floated charging ships passing through the strait as part of a peace deal, though the idea has been widely rejected by countries including the United States and Iran's neighbor Oman.
Metz reported from Jerusalem, Castillo from Beijing and Magdy from Cairo.
Members of the media work at a media center setup for the coverage of the US-Iran talks, in Islamabad, Pakistan, Saturday, April 11, 2026. (AP Photo/Anjum Naveed)
In this photo released by the Pakistan Prime Minister Office, U.S. Vice President JD Vance, left, shakes hand with Pakistani Prime Minister Shehbaz Sharif prior to their meeting, in Islamabad, Pakistan, Saturday, April 11, 2026 (Pakistan Prime Minister Office via AP)
Mohammed, 8, weeps next to the coffin of his father, Hussein Makkah, during the funeral of 13 state security officers killed the previous day in an Israeli strike in Lebanon’s coastal city of Sidon, Lebanon, Saturday, April 11, 2026. (AP Photo/Emilio Morenatti)
A Pakistani official is seen during the arrival of the U.S. Vice President JD Vance for talks with Iranian officials in Islamabad, Pakistan, Saturday, April 11, 2026. (AP Photo/Jacquelyn Martin, Pool)
U.S. Vice President JD Vance, center, walks with Pakistan's Chief of Defence Forces and Chief of Army Staff Field Marshall Asim Munir, left, and Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar after arriving for talks with Iranian officials in Islamabad, Pakistan, Saturday, April 11, 2026. (AP Photo/Jacquelyn Martin, Pool)
Displaced families extend their hands while waiting for donated food beside the tents they use as shelters after fleeing Israeli bombardment in southern Lebanon, in Beirut, Lebanon, Thursday, April 9, 2026. (AP Photo/Emilio Morenatti)
A Lebanese civil defense worker, right, stands with a resident at the site of a building destroyed in an Israeli airstrike a day earlier in central Beirut, Lebanon, Thursday, April 9, 2026. (AP Photo/Hassan Ammar)
Police officers take position in Islamabad, Pakistan, to ensure security ahead of possible negotiations between Iran and the United States, Friday, April 10, 2026. (AP Photo/Anjum Naveed)
Vice President JD Vance walks to speak with the Press before boarding Air Force Two, Friday, April 10, 2026, at Joint Base Andrews, Md., for expected departure to Pakistan, for talks on Iran. (AP Photo/Jacquelyn Martin, pool)
A police officer walks past a billboard regarding the United States and Iran negotiations, outside a media facilitation center in Islamabad, Pakistan, Saturday, April 11, 2026. (AP Photo/Anjum Naveed)
