DOCSLIB.ORG

Lyft, Inc. (Exact Name of Registrant As Specified in Its Charter)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Lyft, Inc. (Exact Name of Registrant As Specified in Its Charter) S-1 1 d633517ds1.htm S-1 Table of Contents As filed with the Securities and Exchange Commission on March 1, 2019. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Lyft, Inc. (Exact name of registrant as specified in its charter) Delaware 7389 20-8809830 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number) Identification Number) Lyft, Inc. 185 Berry Street, Suite 5000 San Francisco, California 94107 (844) 250-2773 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) Logan Green Co-Founder and Chief Executive Officer John Zimmer Co-Founder, President and Vice Chairman Lyft, Inc. 185 Berry Street, Suite 5000 San Francisco, California 94107 (844) 250-2773 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copies to: Katharine A. Martin Kristin N. Sverchek Richard A. Kline Rezwan D. Pavri David V. Le Anthony J. McCusker Lisa L. Stimmell Kevin C. Chen An-Yen E. Hu Andrew T. Hill Christopher M. Reilly Goodwin Procter LLP Wilson Sonsini Goodrich & Rosati, P.C. Lyft, Inc. 601 Marshall Street 650 Page Mill Road 185 Berry Street, Suite 5000 Redwood City, California 94063 Palo Alto, California 94304 San Francisco, California 94107 (650) 752-3100 (650) 493-9300 (844) 250-2773 Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective. If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☐ If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐ CALCULATION OF REGISTRATION FEE Proposed Maximum Title of each Class of Aggregate Amount of Securities to be Registered Offering Price(1)(2) Registration Fee Class A common stock, par value $0.00001 per share $100,000,000 $12,120 (1) Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(o) of the Securities Act of 1933, as amended. (2) Includes the aggregate offering price of additional shares that the underwriters have the option to purchase, if any. The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant will file a further amendment which specifically states that this registration statement will thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement will become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine. Table of Contents Class A Common Stock Shares in This is an initial public offering of shares of Class A common stock of Lyft, Inc. filed Prior to this offering, there has been no public market for our Class A common stock. It is currently estimated that the securities initial public offering price per share will be between $ and $ . We have applied to list our Class A common stock on the statement these Nasdaq Global Select Market under the symbol “LYFT”. We have two classes of common stock, Class A common stock and Class B common stock. The rights of the holders of Class A common stock buy and Class B common stock are identical, except voting and conversion rights. Each share of Class A common stock is entitled to one vote. to Each share of Class B common stock is entitled to 20 votes and is convertible at any time into one share of Class A common stock. Upon the registration over completion of this offering, Logan Green, our co-founder, Chief Executive Officer and a member of our board of directors, will hold approximately % of the voting power of our outstanding capital stock; and John Zimmer, our co-founder and President and Vice Chairman the an of our board of directors, will hold approximately % of the voting power of our outstanding capital stock. As a result, individually or together, until seek Logan Green and John Zimmer, collectively referred to herein as our Co-Founders, will be able to significantly influence any action requiring it sold the approval of our stockholders, including the election of our board of directors, the adoption of amendments to our certificate does of incorporation and bylaws and the approval of any merger, consolidation, sale of all or substantially all of our assets or other be nor major corporate transaction. not sell may We will be treated as an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, for certain purposes until to we complete this offering. As such, in this prospectus we have taken advantage of certain reduced disclosure obligations that apply to o_er emerging growth companies regarding selected financial data and executive compensation arrangements. an. securities 2019 not, is See “Risk Factors” beginning on page 20 to read about factors you should consider before buying shares of our These. dated Class A common stock. changedprospectus Neither the Securities and Exchange Commission nor any other regulatory body has approved be or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. may Any representation to the contrary is a criminal o•ense. completion, andpreliminaryto Per share Total This Initial public o_ering price $ $ (1) . Subject Underwriting discount $ $ complete . Proceeds, before expenses, to Lyft, Inc. $ $ not e_ective isis (1) See the section titled “Underwriting” for a description of the compensation payable to the underwriters. permitted not is At our request, the underwriters have reserved up to shares of Class A common stock, or % of the shares o_ered by this prospectus, prospectus for sale at the initial public o_ering price in a directed share program, to our directors, certain Commissionsale of our employees and the friends and family members of our directors and such employees, as well as certain drivers on our platform. To or recognize certain drivers who have contributed to our success, we will pay cash bonuses that will allow such drivers to more easily o_er participate in the directed share program. See the section titled “Underwriting—Directed Share Program.” preliminaryExchange the thisand To the extent that the underwriters sell more than shares of Class A common stock, the underwriters have the option to purchase up to an in additional shares from Lyft, Inc. at the initial public o_ering price less the underwriting discount. where Securities The underwriters expect to deliver the shares against payment in New York, New York, on or about informationthe jurisdiction , 2019. Thewithany J.P. Morgan Credit Suisse Je•eries UBS Investment Bank Stifel RBC Capital Markets KeyBanc Capital Markets Cowen Raymond James Canaccord Genuity Evercore ISI Piper Ja•ray JMP Securities Wells FargoSecurities KKR Academy Securities Blaylock Van Penserra Siebert Cisneros Shank & Co The Williams Capital Group Prospectus dated , 2019 Table of Contents Improve people’s lives with the world’s best transportation. Our mission Table of Contents 1.9 million Drivers in 2018 Lyft helps drivers get closer to their goals, whether they’re paying their bills or funding their dreams. Drivers 30.7 million Riders in 2018 Riders across North America are exploring their cities thanks to more affordable, convenient and reliable transportation. Riders Table of Contents $2.2 billion Revenue in 2018 $8.1 billion Bookings in 2018 1 billion+ Cumulative rides 300+ Markets in US and Canada 1 Mission Table of Contents TABLE OF CONTENTS PROSPECTUS SUMMARY 1 RISK FACTORS 20 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 62 INDUSTRY, MARKET AND OTHER DATA 64 USE OF PROCEEDS 66 DIVIDEND POLICY 67 CAPITALIZATION 68 DILUTION 71 SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA 74 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 76 OUR LIFE’S WORK 109 BUSINESS 124 MANAGEMENT 157 EXECUTIVE COMPENSATION 168 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 185 PRINCIPAL STOCKHOLDERS 191 DESCRIPTION OF CAPITAL STOCK 194 SHARES ELIGIBLE FOR FUTURE SALE 201 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS OF OUR CLASS A COMMON STOCK 204 UNDERWRITING 208 LEGAL MATTERS 220 EXPERTS 220 WHERE YOU CAN FIND ADDITIONAL INFORMATION 220 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 Through and including , 2019 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus.
Load more

Recommended publications
  • Exploration of the Current State and Directions of Dynamic Ridesharing Joseph J
    Montclair State University Montclair State University Digital Commons Theses, Dissertations and Culminating Projects 8-2015 Exploration of the Current State and Directions of Dynamic Ridesharing Joseph J. Di Gianni Montclair State University Follow this and additional works at: https://digitalcommons.montclair.edu/etd Part of the Environmental Sciences Commons Recommended Citation Di Gianni, Joseph J., "Exploration of the Current State and Directions of Dynamic Ridesharing" (2015). Theses, Dissertations and Culminating Projects. 187. https://digitalcommons.montclair.edu/etd/187 This Dissertation is brought to you for free and open access by Montclair State University Digital Commons. It has been accepted for inclusion in Theses, Dissertations and Culminating Projects by an authorized administrator of Montclair State University Digital Commons. For more information, please contact [email protected]. EXPLORATION OF THE CURRENT STATE AND DIRECTIONS OF DYNAMIC RIDESHARING A DISSERTATION Submitted to the Faculty of Montclair State University in partial fulfillment of the requirements for the degree of Doctor of Philosophy by JOSEPH J. DI GIANNI Montclair State University Montclair, NJ 2015 Dissertation Chair: Dr. Rolf Sternberg Copyright © 2015 by Joseph J. Di Gianni. All rights reserved. MONTCLAIR STATE UNIVERSITY THE GRADUATE SCHOOL DISSERTATION APPROVAL We hereby approve the Dissertation EXPLORATION OF THE CURRENT STATE AND DIRECTIONS OF DYNAMIC RIDESHARING of Joseph J. Di Gianni Candidate for the Degree: Doctor ofPhilosophy Dissertation Committee: Department ofEarth and Environmental Studies Dr. RolfSter^eT^ Certified by: Dissertation.Chair Dr. Joan C. Ficke Dr. Gregory Pope Dean ofThe Graduate School Date Dr. Harbans^nsh . Joseph Mirabella ABSTRACT EXPLORATION OF THE CURRENT STATE AND DIRECTIONS OF DYNAMIC RIDSHAREING by Joseph J.
    [Show full text]
  • Mission Is Critical
    Stanford eCorner Mission is Critical Navin Chaddha, Mayfield 06-03-2019 URL: https://ecorner.stanford.edu/?post_type=snippet&p=63105 Navin Chaddha, managing director of Mayfield, attributes Lyft’s rapid growth not just to technology, but to the mission that founders John Zimmer and Logan Green set for the company from day one: to make people’s lives better through transportation. He describes how services like providing free rides to polling places exemplify the values that give Lyft its structural integrity. Transcript - So, when we met John and Logan in 2011, their business was called Zimride, as Lyft didn't even exist.. What was the idea? The idea was a social site, a variant of Craigslist where people were posting requests and offers for shared rides.. It was primarily being used by students, primarily at Stanford, and commuters for the Bay Area traffic.. But it wasn't a direct consumer to consumer application.. It was distributed through universities and corporations.. It was a good idea, but not a massive market that a VC would invest in.. Then comes the smartphone revolution.. And the smartphone step.. Like any other smart entrepreneur, John and Logan pivoted the company to creating the first, now this is debatable, I'm an investor in them, so please take it with a grain of salt.. The first peer-to-peer ridesharing service not focused on the black car market and have grown in seven years or so to providing more than 50 million rides a month.. What led to their success was their authentic mission of making people's lives better by providing the best transportation.
    [Show full text]
  • First Zipcar, Now Uber: Legal and Policy Issues Facing the Expanding “Shared Mobility” Sector in U.S
    FIRST ZIPCAR, NOW UBER: LEGAL AND POLICY ISSUES FACING THE EXPANDING “SHARED MOBILITY” SECTOR IN U.S. CITIES JOSEPH P. SCHWIETERMAN, PH.D.* & MOLLIE PELON** INTRODUCTION ......................................................................................... 109 I. TYPES OF SHARED-MOBILITY SERVICES .............................................. 111 A. Carsharing .............................................................................. 112 1. Evolution and Expansion. ................................................. 113 2. Notable Research .............................................................. 116 3. Policy Issues and Outlook. ............................................... 118 B. Transportation Network Companies ...................................... 120 1. Evolution and Expansion. ................................................. 121 2. Notable Research. ............................................................. 124 3. Policy Issues and Outlook ................................................ 127 C. Microtransit Service ............................................................... 128 1. Evolution and Expansion. ................................................. 129 2. Notable Research .............................................................. 131 3. Policy Issues and Outlook ................................................ 132 D. Crowdsourced Intercity Bus Operators .................................. 132 1. Evolution and Expansion .................................................. 132 2. Notable Research. ............................................................
    [Show full text]
  • Glossary of Key Sharing Economy Terms
    Glossary of Key Sharing Economy Terms Carpooling An alternative term for ridesharing, typically long-distance ridesharing (see below). Car-sharing Two different models of car rental. B2C car-sharing involves companies renting out shared cars that they own and are distributed around cities. P2P car-sharing involves the rental of privately owned cars. Both present an alternative to the individual ownership of cars. Crowdfunding The funding of companies, projects, causes, or loans using crowd-sourced capital from a “crowd” of potentially thousands of people. Crowdfunding comes in three variants, as described below. Equity crowdfunding The funding of a company through an online platform that allows a pool of investors to subscribe for unlisted shares. Debt crowdfunding The funding of a loan or portfolio of loans by a group of individuals, without the involvement of a bank. Rewards-based crowdfunding The funding of projects, causes, or inventions from backers who, instead of equity, receive rewards or perks that are usually related to the campaign and increase in value in proportion to the size of the backer’s contribution. Meal-sharing The sharing of meals between strangers in private homes, with the host charging their guests on a per seat basis. Ridesharing Individuals offering lifts in their car to other individuals. Ridesharing comes in a short-distance and long-distance form. “Short-distance ridesharing” involves shared car journeys within cities and is a substitute for traditional taxis. “Long-distance ridesharing” involves shared journeys between cities and is a substitute for rail or coach travel. 204 Glossary of Key Sharing Economy Terms 205 Sharing economy (condensed version) The value in taking underutilized assets and making them accessible online to a community, leading to a reduced need for ownership of those assets.
    [Show full text]
  • First Zipcar, Now Uber: Legal and Policy Issues Facing the Expanding “Shared Mobility” Sector in U.S
    Belmont Law Review Volume 4 Symposium 2016: The Modern Metropolis – Article 5 Contemporary Legal Issues in Urban Communities 2017 First Zipcar, Now Uber: Legal and Policy Issues Facing the Expanding “Shared Mobility” Sector in U.S. Cities Joseph P. Schwieterman DePaul University Mollie Pelon DePaul University Follow this and additional works at: https://repository.belmont.edu/lawreview Part of the Legal Writing and Research Commons Recommended Citation Schwieterman, Joseph P. and Pelon, Mollie (2017) "First Zipcar, Now Uber: Legal and Policy Issues Facing the Expanding “Shared Mobility” Sector in U.S. Cities," Belmont Law Review: Vol. 4 , Article 5. Available at: https://repository.belmont.edu/lawreview/vol4/iss1/5 This Article is brought to you for free and open access by the College of Law at Belmont Digital Repository. It has been accepted for inclusion in Belmont Law Review by an authorized editor of Belmont Digital Repository. For more information, please contact [email protected]. FIRST ZIPCAR, NOW UBER: LEGAL AND POLICY ISSUES FACING THE EXPANDING “SHARED MOBILITY” SECTOR IN U.S. CITIES JOSEPH P. SCHWIETERMAN, PH.D.* & MOLLIE PELON** INTRODUCTION ......................................................................................... 109 I. TYPES OF SHARED-MOBILITY SERVICES .............................................. 111 A. Carsharing .............................................................................. 112 1. Evolution and Expansion. ................................................. 113 2. Notable Research .............................................................
    [Show full text]
  • For Hire Transportation Services Report
    For Hire Transportation services report A Study by The Institute for Municipal & Regional Policy (IMRP) CENTRAL CONNECTICUT STATE UNIVERSITY The Institute for Municipal and Regional Policy 1 Authors: Dr. James Thorson, Ph.D. Professor of Economics and Finance School of Business Southern Connecticut State University Veronica L. Gill, JD Assistant Professor of Management/MIS School of Business Southern Connecticut State University IMRP Staff Contributors: Andrew Clark, Director James Fazzalaro, Research Specialist Ken Barone, Research and Policy Specialist Teodor Radu, University Assistant The Institute for Municipal and Regional Policy 2 TABLE OF CONTENTS Introduction................................................................................................................................4 Executive Summary...................................................................................................................5 PART I: Background ................................................................................................................10 PART II: History.........................................................................................................................11 PART III: Literature Review......................................................................................................14 PART IV: Other Jurisdictions Regulations ................................................................................19 PART V: Outstanding Issues in Connecticut ............................................................................28
    [Show full text]
  • Impacts of Ridesourcing on VMT, Parking Demand, Transportation Equity, and Travel Behavior
    MPC 19-379 | A. Henao, W. Marshall, and B. Janson Impacts of Ridesourcing on VMT, Parking Demand, Transportation Equity, and Travel Behavior A University Transportation Center sponsored by the U.S. Department of Transportation serving the Mountain-Plains Region. Consortium members: Colorado State University University of Colorado Denver Utah State University North Dakota State University University of Denver University of Wyoming South Dakota State University University of Utah Technical Report Documentation Page 1. Report No. 2. Government Accession No. 3. Recipient's Catalog No. MPC-514 4. Title and Subtitle 5. Report Date Impacts of Ridesourcing on VMT, Parking Demand, Transportation Equity, and March, 2019 Travel Behavior 6. Performing Organization Code 7. Author(s) 8. Performing Organization Report No. Alejandro Henao, PhD Wesley E. Marshall, PhD, PE MPC 19-379 Bruce Janson, PhD, PE 9. Performing Organization Name and Address 10. Work Unit No. (TRAIS) University of Colorado Denver 1200 Larimer Street 11. Contract or Grant No. Denver, CO 80217 12. Sponsoring Agency Name and Address 13. Type of Report and Period Covered Mountain-Plains Consortium Final Report North Dakota State University 09/30/2013 – 9/30/2018 PO Box 6050, Fargo, ND 58108 14. Sponsoring Agency Code 15. Supplementary Notes Supported by a grant from the US DOT, University Transportation Centers Program 16. Abstract Ride-haling such as Uber and Lyft are changing the ways people travel and is critical to forecasting mode choice demands and providing adequate infrastructure. Despite widespread claims that these services help reduce driving and the need for parking, there is little research on these topics.
    [Show full text]
  • Planning for Autonomous Mobility (PAS Report 592)
    PAS REPORT 5 9 2 PLANNING FOR AUTONOMOUS MOBILITY Jeremy Crute, William Riggs, AICP, Timothy S. Chapin, and Lindsay Stevens, AICP ABOUT THE AUTHORS APA RESEARCH MISSION Jeremy Crute has been the senior planner in Florida State University’s Depart- ment of Urban and Regional Planning for the last four years. There he has man- APA conducts applied, policy-relevant research that aged a wide range of applied and scholarly research projects on community advances the state of the art in planning practice. redevelopment, transportation, and land-use issues. He has prior professional APA’s National Centers for Planning—the Green community development experience in Chattanooga, Tennessee, and Atlanta, Communities Center, the Hazards Planning Center, Georgia. He holds a master of science degree in urban and regional planning and the Planning and Community Health Center— from Florida State University, and bachelors degrees in economics and com- guide and advance a research directive that address- munity development from Covenant College. es important societal issues. APA’s research, educa- William (Billy) Riggs, aicp, phd, leed ap, is a global expert and thought leader tion, and advocacy programs help planners create in the areas of future mobility and smart transportation, housing, economics, communities of lasting value by developing and dis- and urban development. He is a professor at the University of San Francisco seminating information, tools, and applications for School of Management, and an advisor to multiple companies and start-ups on built and natural environments. technology, smart mobility, and urban development. This follows two decades of work as a planner, economist, and engineer.
    [Show full text]
  • Exploration of the Current State and Directions in the Emerging Field of Dynamic Ridesharing Platforms
    Middle States Geographer, 2014, 47: 68-78 EXPLORATION OF THE CURRENT STATE AND DIRECTIONS IN THE EMERGING FIELD OF DYNAMIC RIDESHARING PLATFORMS Joseph J. Di Gianni Department of Earth and Environmental Studies Montclair State University Montclair, NJ 07043 ABSTRACT: Automobility has advanced since the postwar decline of public transportation and its near universal replacement by single-occupant vehicles (SOVs) throughout much of the developed economies. Even so- called “transit friendly” economies of the Global South have seen shifts in their modes of transportation to systems that are predominantly SOV-based (Cervero, 2013). Intensive infrastructure expansion within emerging economies indicates that the SOV is being adopted at a rate similar to the developed economies of one hundred years ago. In Henry Ford's quote “With mobility comes freedom and progress” mobility becomes universally interpreted as “automobility”. Grave concern is linked to the continuation of the SOV model and its consequences for an environment taxed by an ever-expanding transportation sector. A paradigm shift, however, in the SOV-driven model, has been detected coming not from transportation but the different domains of information and communication technologies (ICT). This review examined the current state and direction of dynamic ridesharing (DRS), an emerging technology driven by recent innovations in ICT over the last two decades (Siddiqi & Buliung, 2013). DRS matches drivers and riders in real-time using Internet and mobile technology, and are single- occurrence events organized on short notice (Amey, Attanucci, & Mishalani, 2011). We conclude with a case study of DRS from its roots in San Francisco, CA. The city provides a present-day template for emerging themes when DRS is introduced into the present-day urban transportation system.
    [Show full text]
  • Matias Malig, As Trustee for the Malig Family Trust, Et Al. V. Lyft, Inc. Et Al
    Case 4:19-cv-02690-HSG Document 1 Filed 05/17/19 Page 1 of 27 1 Jeffrey C. Block, pro hac vice to be filed Jacob A. Walker (SBN 271217) 2 BLOCK & LEVITON LLP 260 Franklin Street, Suite 1860 3 Boston, MA 02110 (617) 398-5600 phone 4 [email protected] 5 Attorneys for Plaintiff Matias Malig, as Trustee for the Malig Family Trust 6 UNITED STATES DISTRICT COURT 7 NORTHERN DISTRICT OF CALIFORNIA 8 MATIAS MALIG, AS TRUSTEE FOR THE Case No._________________________ 9 MALIG FAMILY TRUST, Individually and on Behalf of All Others Similarly Situated, 10 Plaintiff, CLASS ACTION 11 vs. COMPLAINT FOR VIOLATIONS 12 OF FEDERAL SECURITIES LAWS LYFT INC.; LOGAN GREEN; JOHN ZIMMER; 13 BRIAN ROBERTS; PRASHANT (SEAN) AGGARWAL; BEN HOROWITZ; VALERIE 14 JARRETT; DAVID LAWEE; HIROSHI MIKITANI; ANN MIURA-KO; MARY AGNES 15 (MAGGIE) WILDEROTTER; J.P. MORGAN SECURITIES LLC; CREDIT SUISSE 16 SECURITIES (USA) LLC; JEFFERIES LLC; DEMAND FOR JURY TRIAL UBS SECURITIES LLC; STIFEL, NICOLAUS 17 & COMPANY, INCORPORATED; RBC CAPITAL MARKETS, LLC; KEYBANC 18 CAPITAL MARKETS INC.; COWEN AND COMPANY, LLC; RAYMOND JAMES & 19 ASSOCIATES, INC.; CANACCORD GENUITY LLC; EVERCORE GROUP L.L.C.; 20 PIPER JAFFRAY & CO.; JMP SECURITIES LLC; WELLS FARGO SECURITIES, LLC; 21 KKR CAPITAL MARKETS LLC; ACADEMY SECURITIES, INC.; BLAYLOCK VAN, LLC; 22 PENSERRA SECURITIES LLC; SIEBERT CISNEROS SHANK & CO., L.L.C.; THE 23 WILLIAMS CAPITAL GROUP, L.P.·; CASTLEOAK SECURITIES, L.P.; C.L. KING 24 & ASSOCIATES, INC.; DREXEL HAMILTON, LLC; GREAT PACIFIC SECURITIES; LOOP 25 CAPITAL MARKETS LLC; MISCHLER FINANCIAL GROUP, INC.; SAMUEL A 26 RAMIREZ & COMPANY, INC.; R.
    [Show full text]
  • Lyft's Rapid Surge in the Rideshare Sector
    VC20033 Lyft’s Rapid Surge in the Rideshare Sector Joseph Conde University of the Incarnate Word Ryan Lunsford, Ph.D. University of the Incarnate Word VC20033 Abstract Lyft is a rideshare company that has successfully provided convenient and cost-effective transportation services for 22.9 million people across the United States (Iqbal, 2020). The company was established in the Summer of 2012 and by 2019, Lyft increased both the total number of customers and the crucial rides per customer metric leading to a valuation of nearly $24 billion (Madrigal, 2019). The rise began in 2017 when Lyft began increasing its earnings rapidly after pitfalls from its primary competitor, Uber, which had several ethical and legal scandals that received intense media coverage (Carson, 2017). In the subsequent months, Lyft realized a 130% rise in the number of rides from the previous year and launched service in 160 new cities, increasing Lyft’s percentage of market share to 48% (Kerr, 2018). Lyft’s competitive advantage relative to its rivals includes maintaining a transparent, trustworthy reputation, resolving customer and employee concerns quickly and equitably, and providing a safe ride experience that enables riders to conveniently and affordably enjoy their transportation service (Srivastava, 2016). Lyft prioritizes both the relationships that it has with its employees and the industry-leading rates that it charges per ride (Oswald & Revilla, 2020). The company has emphasized improvements to Lyft services by concentrating on customer data analytics, implementing rideshare capabilities to minimize fees, and providing customers a monthly membership subscription that is expected to generate eight times as much revenue in the next 12 years (Forbes, 2018).
    [Show full text]
  • Autonomous Vehicles and the Future of Work in Canada
    AUTONOMOUS VEHICLES | AND THE FUTURE OF WORK IN CANADA GO AUTONOMOUS VEHICLES AND THE FUTURE OF WORK IN CANADA RESEARCH BY: INFORMATION AND COMMUNICATIONS TECHNOLOGY COUNCIL (ICTC) FUNDING PROVIDED BY: THE GOVERNMENT OF CANADA'S SECTORAL INITIATIVES PROGRAM T I M E L E S S S T Y L E A U T O N O M O U S V E H I C L E S A N D T H E F U T U R E O F W O R K I N C A N A D A w w w . i c t c - c t i c . c a Preface ICTC’s trusted labour market research provides critical economic and labour market insights to inform innovative workforce and skills solutions, as well as practical policy advice. Together, these drive the development of a more prosperous Canadian workforce and industries in a global digital economy. To cite this report: Cutean, A. (2017). Autonomous Vehicles and the Future of Work in Canada. Information and Communications Technology Council (ICTC). Ottawa, Canada. Elaborated and written by Alexandra Cutean (Manager, Policy & Research), with generous support from Jeremy Depow (V.P. Policy & Research), Maryna Ivus (Senior Analyst, Policy & Research), Zhenzhen Ye (Analyst, Policy & Research) and Choice Ubangha (Analyst, Policy & Research). T I M E L E S S S T Y L E A U T O N O M O U S V E H I C L E S A N D T H E F U T U R E O F W O R K I N C A N A D A w w w .
    [Show full text]