LYFT Inc. has filed confidential paperwork for an initial public offering, a key step that keeps the ride-hailing firm on pace to hit the public market early next year.
Lyft’s planned IPO is one of the most anticipated Silicon Valley debuts in recent years. The filing, which was expected, would suggest Lyft remains a step ahead of rival Uber Technologies Inc. as both work toward IPOs in 2019.
Lyft is aiming to debut in March or April, according to people familiar with the matter. By filing with the Securities and Exchange Commission now, the company should have enough time to answer questions from the agency and keep to its schedule.
Lyft, which is much smaller than Uber, is widely expected to beat its ride-hailing rival to a listing, and in doing so would afford public investors their first opportunity to buy into the fast-growing industry.