Lifting was announced at a value of $ 24 billion. This compares to other high-profile technology companies dating back to the dotcom bubble.
Business Insider / Andy Kiersz
- Investors expect 2019 to be a hectic year for initial public offerings, as technology unicorns and decacores such as Uber, Slack and Pinterest are expected to hit the public market.
- When Lyft is priced its IPO last week at $ 72 per share, it was valued at around $ 24 billion. Its main competitor, Uber, is expected to be public at $ 120 billion later this year.
- Some analysts find it difficult to assess Lyft's true value since it is the first of its kind in a public prey, and faces various risks that It lost hundreds of millions of dollars in 201[ads1]8.
- Markets Insider has compiled a list of other high-profile IPOs and their valuations – from dot-com times into the future
- Visit the Markets Insider's multi-story site.
This year is expected to create a shiny freshman class of high-profile public technology companies, from Uber and Slack, to Airbnb and Pinterest.
Lift the kick of the wave of unicorn victims last week, go public at a valuation of about $ 24 billion, after a bit of a slow start to the year of listings due to the partial federal government closure.
Unicorns, or companies valued at $ 1 billion or more, next queue to debut carry massive valuations. Uber is expected to get a valuation of around $ 120 billion, Palantir $ 41 billion, and Airbnb $ 31 billion. Slack, who announced that it will be announced through a direct listing, was last valued at $ 7 billion, and Pinterest, which officially filed its S-1 with the Securities and Exchange Commission last month, is worth around $ 12.3 billion .
But to assess the company's values in private and public markets are two very different animals. Some young technology companies such as Lifting are not yet profitable – a move not uncommon among startups – making it difficult to assess their earnings history. And other "disruptor" type companies like Airbnb are the first of their kind to list in the public market, making comparisons tough.
Some Wall Street analysts covering Lyft say it is a major task to value the running company since so many basic unknowns still mention it: How will it achieve profitability? How would lifting fare in an economic downturn? How will the competitor Uber influence his business?
"In our opinion, the valuation is the most difficult task of LYFT," Michael Ward, analyst at Seaport Global Securities, wrote to clients this week. "While we believe the ridesharing market will continue to grow and expect LYFT to be a major competitor, we believe that today's valuations reflect an overly optimistic view of consumer behavior in the US."
To compare Lyft's current valuation with the technology Markets Insider has gathered the valuations, annual sales and price-to-sales conditions of some of the more popular technological exchanges over the past two decades. Some of the data in the slides below is from a recent report distributed by Daniel Morgan, a portfolio manager with the Synovus Trust Company.
His conclusion from analyzing the sales price conditions of companies such as Netscape, Yahoo and eBay is that the valuations of some of today's unicorn values are pale in comparison.
Morgan told clients that the valuations of recent unicorns "seem extremely low compared to the Go-Go days of technology investing from 1995-1999, before the Bubble Burst technique, when companies like Yahoo and Netscape were published on" Monster Size "- 238x and 171x revenue multiples! "
See how the popular tech IPOs compare.
Of the companies analyzed, Morgan Synovus Trust Company disclosed shares in Facebook, Amazon, Alibaba and Twitter. Morgan personally owns shares of Facebook and Amazon.
Lift
Reuters
IPO date: March 29, 2019
IPO value: $ 24 billion
Revenue: $ 2.2 billion
Price -to-sale conditions: 11.4x
Uber
Christoph Dernbach / Getty
Expected IPO date: April 2019
Estimated IPO value: $ 120
10.5x
Reuters
Expected IPO Date:
2018 Revenue: $ 11.3 billion, the company said earlier this year. 2019. Pinterest filed its S-1 with the Securities and Exchange Commission in March.
Estimated IPO value: $ 12.3 billion, according to a Wall Street Journal analysis of Pinterest's S-1.
Revenue: $ 755.9 million
Price-to-sales ratio: 16.3x
Airbnb
Stefanie Keenan / Getty Images
Expected IPO date: 2019 but the co-founder said in comments to Business Insider in March that it cannot go public this year.
Estimated IPO value: $ 31 billion
Estimated income: $ 2.76 billion [19659021] Price for sale: 11.2x
Palantir
YouTube / Screenshot
Expected IPO Date: As soon as the second half of 2019, according to The Wall Street Journal,
Estimated IPO Value: $ 41 Billion
Estimated Income: $ 750 Million [19659021] Price-to-Sales Ratio: 54.6x
Alibaba
Associated Press
IPO date: September 18, 2014
IPO value : $ 168 billion
Revenue: $ 8.44 billio n
Price-to-sales ratio: 19.9x
Associated Press
IPO date : November 6, 2013
IPO value: $ 14.2 billion [19659021] Revenue: $ 639.8 million
Price-to-sales ratio: 22.2x [19659063] Facebook
Reuters
IPO date: May 17, 2012
IPO value: $ 104 billion
Revenue: $ 3,711 billion
Price-to- sales ratio: 28x
eBay
Ki Price / Stringer / Getty
IPO date: September 23, 1998
IPO value: $ 715 million
Revenue: $ 14,922 million
Price-to-Sales Ratio: 47.9x
Amazon
Reuters
IPO Date: May 14, 1997
IPO Value: $ 413 Million
Revenue: $ 15.75 Million
Price-to-Sales Relationship: 26.2x [19659084] Yahoo
Thomson Reuters
IPO Date: April 11, 1996
IPO value: $ 334 million
Revenue: $ 1.41 million
Price-to-sales ratio: 238.6x
Netscape
Justin Sullivan / Getty
IPO -date: August 8, 1995
IPO value: $ 927 million
Revenue: $ 5.4 million
Price-to-sales ratio: 171.6x [19659092] function (d, s, id) {
var js, fjs = d.getElementsByTagName (s) [0];
if (d.getElementById (id)) returns;
js = d.createElement (s); js.id = id;
js.src = "http://connect.facebook.net/en_US/all.js#xfbml=1";
fjs.parentNode.insertBefore (js, fjs);
} (document, & # 39; script & # 39 ;, & # 39; facebook-jssdk & # 39;));
