(Reuters) — Lyft was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup on Thursday, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company.
Lyft’s IPO sets the stage for the stock market debut of , which Reuters has reported . Uber has been told by its investment bankers that it could be valued at as much as $120 billion.
The success of the IPO came despite Lyft’s steep loses, criticism of its dual-class share structure and some concerns over its , for fear of missing out on the company’s strong revenue growth.
“In a good market, people look beyond things. They don’t see the problems as