Lyft issues IPO, but its path to profitability is still unclear
Lyft issues IPO, but its path to profitability is still unclear
Lyft issues its highly anticipated IPO on Friday. Like Uber, Lyft has not been profitable to date. Critics say the only way the ride-share company can become profitable is to cut driver pay or risk losing riders by increasing rates. Lyft recently announced some new driver perks, like banking and car repair services, in the hopes of appeasing disgruntled drivers and attracting new ones. The services could also generate revenue for Lyft in the future.
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