Lyft's highly-anticipated IPO is almost upon us, the first in a string of highly-valued tech unicorns that are expected to go public in the next few months.
On Thursday after the close, the 7-year-old ride-sharing company priced shares at $72, according to reports. That represents the high end of its expected range and values the company at around $24 billion. Shares are set to begin trading on the Nasdaq on Friday morning under the symbol LYFT.
Lyft is growing rapidly but is also paying a lot to achieve that growth, having lost almost $1 billion in 2018. Tiernan Ray, a tech columnist for TheStreet, thinks shares are likely do well on the first day of trading given the current scarcity of ways to invest in ride-sharing, but the debut of much-larger rival Uber, which is also expected to IPO soon, will likely impact that equation and put pressure on Lyft's shares.
For more on Ray's perspective and whether it's a good idea to invest in Lyft now, watch the video above. Also check out Eric Jhonsa's take on key things to watch for after Lyft makes its debut.