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LOS ANGELES, Calif. –
Inc shares on Friday opened up 21.2 percent at $87.24 in its market debut on the Nasdaq after the company was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup.
On Thursday, Lyft said it priced 32.5 million shares, slightly more that it was offering originally, at $72, the top of its already elevated $70-$72 per share target range for the IPO.
After a few minutes of trading, shares were up 18.6 percent at $85.42.
Instead of celebrating the first day of trading at the Nasdaq in New York, Lyft opted to mark the occasion at a defunct
in downtown Los Angeles.
A couple hundred people — Lyft staff, family and friends, stakeholders and Los Angeles Mayor Eric Garcetti — gathered before dawn for the kick-off event.
Lyft has recently bought the facility to turn it into a driver services center, the first of several it plans to open across the U.S. in the coming months, where drivers can get discounted services like help with taxes or charging
.
from Autoblog https://ift.tt/2HNHUjk