New York (CNN Business) For years, Lyft founders Logan Green and John Zimmer set the company apart from a crowded pack of rivals in part by building a warm and friendly brand. Lyft filed paperwork for its long-awaited public offering on Friday. The move echoes the approach of tech companies like Facebook, Google and Snap, each of which created a dual-class structure to give their founders majority voting control. This tactic ensured founders could pursue their strategic visions with minimal pushback. It also all but guaranteed that public market investors would have little say over how these companies are run.

Source: CNN March 01, 2019 21:11 UTC