Lyft’s I.P.O. underscored the depth of investor hunger for fast-growing young tech businesses, even if they are deeply unprofitable. Source: NYT > Business – KATE CONGER and MICHAEL J. de la MERCED
DealBook Briefing: It’s Lyft I.P.O. Day
The ride-hailing service begins trading on the Nasdaq this morning, and is now valued at more than $24 billion. Source: NYT > Business –
Lyft Is Ready for Its I.P.O. How Much Pop Is Left?
Unicorn companies are finally going public, after large gains have been captured by elite early investors. Source: NYT > Business – MATT PHILLIPS and ERIN GRIFFITH
Lyft Prices I.P.O. at $72 a Share, Marking Arrival of Gig Economy to Wall Street
Lyft’s I.P.O. heralds a new generation of Silicon Valley darlings on the public markets. Uber, Pinterest and Slack are expected to follow. Source: NYT > Business – MICHAEL J. de la MERCED and KATE CONGER
Lyft and Pinterest Won’t Be Giving Shareholders Much Say
To own a slice of two of the hottest tech start-ups going public, investors will have to give up equal voting power. Source: NYT > Business – PETER EAVIS
Saudi Aramco to Buy $69 Billion Stake in Petrochemical Company
The oil company’s investment in Sabic will infuse money into a Saudi sovereign wealth fund after a planned initial public offering of Aramco faltered. Source: NYT > Business – STANLEY REED and MICHAEL J. de la MERCED