
Uber and Lyft Rival Bolt Expects to Turn Profitable Next Year Ahead of IPO in 2025
Bolt has intimated plans to become profitable in 2024 and leverage its African presence, while mulling a potential public listing in 2025.
Bolt has intimated plans to become profitable in 2024 and leverage its African presence, while mulling a potential public listing in 2025.
The partnership with Uber comes as Stripe started experiencing slower growth.
The verdict has helped bolster the recovery of both Uber and Lyft stocks in the pre-market today.
Lyft expects to realize about $975 million in revenue in fiscal Q1 2023.
The partnership between Uber and Motional will not be the first time the latter startup has inked a similar partnership with other ride-hailing giants such as Lyft and Via Networks.
With the current outlook of the global industry, Lyft is giving a conservative projection for its future earnings as it is anticipating the full year of 2022 revenue growth that will be slower than the 36% achieved in 2021.
The newly appointed OpenSea CFO Brian Roberts puts some light on the company’s IPO plan. However, the OpenSea community feels dejected and abandoned as an IPO plan will most likely mean that there shall be no token airdrop.
Uber is collaborating with Hertz to supply Tesla electric vehicles to drivers ahead of an entire electric ride-hail fleet by 2023.
Lyft reported revenue of $765 million against $696.9 million estimated by analysts according to Refinitiv.
The Toyota’s Woven Planet acquisition of Lyft’s Level is billed to save the latter firm $100 million of operating expense.
Lyft said that the company expects its recovery to continue into March, following its best week in terms of volume in late February.
The US stock market is perhaps responding to a 1.41% drop in the 10-Year Treasury rate, a major focus point for equity investors.
Lyft’s active riders number grew from 8.7 million in Q2 to 12.5 million in Q3 while the revenue per active rider came in at $39.94.
However, Didi has not officially confirmed the IPO plans and a planned schedule has not been drafted.
Following the Q2 2020 earnings report, Lyft stock fell. On August 12, it closed 0.42% down, at $30.52 per share. In the pre-market trade today, it slightly declined.