Lyft hits the stock market, sells shares for $72 in highly anticipated IPO

Lyft might not be the biggest name in the ride-hailing market, but it did become the first to reach a major milestone on Friday.

The San Francisco-based transportation company went public on Friday morning, selling shares for $72 with an early valuation of  In doing so, Lyft became the first ride-hailing app to go public, beating chief rival Uber to the market. 

With about 48 hours to go before the IPO, Lyft raised its expected share price to anywhere from $70 to $72 in an SEC filing. Lyft ended up settling on the maximum figure of $72 when trading began on the Nasdaq. Its ticker symbol is LYFT. Read more...