Marketplace Tech

Lyft IPO makes it the ridesharing star, at least for today


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The ride-hailing platform Lyft goes public today ahead of Uber, which is expected to list in the coming weeks. Drivers from both companies went on strike in Southern California earlier this week to protest changes in how their pay is calculated. Lyft's reliance on drivers is a risk factor it mentioned in its paperwork to go public. Others include new regulations or the possibility it will never be profitable. For every dollar of revenue the company brings in, it winds up 40 cents in the red. Still, Lyft has been able to pick up more riders in the last couple of years, thanks in part to big public stumbles by Uber, which prompted some users to look for alternatives. Marketplace's Tracey Samuelson asked Faiz Siddiqui, a tech reporter covering transit for the Washington Post, where Lyft goes from here. Today's show is sponsored by Oregon State University and Panopto.
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