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The one thing Lyft needs in order to be a great investment

Lyft has filed its IPO
Reuters/Lucy Nicholson
Cash 'stache.
Published This article is more than 2 years old.

It’s official: Lyft is leading the race among so-called unicorn startups to become a publicly-listed company, having announced its intent to sell shares with an S-1 regulatory filing last week.

There’s a lot to love about Lyft. It claims to be a mission-driven company that’s trying to remove cars from the road and be good to both its drivers and riders. Lyft wants to embody the values it promoted with its pink mustaches–that it’s a fun and safe company—and that helps it draw a contrast with Uber, which has been plagued by ethical scandals. Lyft is still run by its founders who grown the company from a college ride-sharing service launched in 2012 to a ride-hailing company serving more than 30 million people in more than 300 markets.

Those founders—Logan Green and John Zimmer—suggest there’s more to come, like building an autonomous vehicle fleet and providing transportation as a subscription service. Lyft is also growing fast: It doubled revenues in the last year and has more than a third of the US ride-hailing market, making it one of only two possible ride-hailing investment options once Uber goes public, as it’s expected to later this year.

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