Lyft is going IPO today and here are the facts:
1. Both founders of company own less than 5% of stock and have control of about 49% of the voting rights.
2. Price was increased from $68.00 to $72.00 before IPO.
3. Lyft drivers whom have driven 1,000 rides get $1,000 in shares, 10,000 rides, $10,000.
4. IPO stocks like Snap and Groupon tanked so just because an IPO occurs, doesn’t mean it will be successful. It’s success is dependent upon the owners of the company, history of the company, how the employees or freelancers are treated, hype, and what the company does to earn profit as well as many other factors.
5. Ubers IPO is coming up as well so sometimes it’s not best to be the first. Monitor and cautiously invest in what you can lose.More to come! -JoJo