An illuminated sign in a Lyft ride-hailing car in Los Angeles. (Chris Helgren/Reuters)The ride-hailing company Lyft filed paperwork Friday with the Securities and Exchange Commission, closing in on its highly anticipated initial public offering. As part of the IPO, Lyft is giving its drivers an opportunity to cash in. The bonus program is notable because ordinary investors are typically excluded from purchasing a company’s stock at the IPO price before shares trade on the open market. To entice existing riders to use the service more often, Lyft will offer subscription plans and commuter services, according to the filing.

Source: Washington Post March 01, 2019 19:14 UTC