SAN FRANCISCO, May 12, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced its intention to offer, subject to market conditions and other factors, $650 million aggregate principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant… Continue reading Lyft: Lyft Announces Private Offering of $650 million of Convertible Senior Notes and Capped Call to Increase Effective Conversion Premium to 150%
Tag: Lyft
Lyft: Lyft launching personal health certification, will require face masks as part of new Health Safety Program
SAN FRANCISCO, May 07, 2020 (GLOBE NEWSWIRE) — As local governments ease stay-at-home orders, Lyft is ramping up efforts to protect riders and drivers — including establishing new health and safety standards for ridesharing. Today we’re announcing a Health Safety Program with new policies, commitments, and products designed to address the needs of our community… Continue reading Lyft: Lyft launching personal health certification, will require face masks as part of new Health Safety Program
Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Reuters Shares of Lyft surged as much as 17% shortly after the market opened Thursday following the company’s better-than-expected first-quarter earnings results. Despite the impact of the coronavirus pandemic, which has hit the ride-hailing sector hard, Lyft’s results exceeded Wall Street’s expectations. The company beat estimates for revenue, and posted a narrower loss than analysts… Continue reading Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Magna Announces First Quarter 2020 Financial Results
Sales of $8.7 billion decreased 18%, compared to global light vehicle production down 27%Estimated COVID-19 impacts of approximately $1.1 billion on sales, $250 million on income from operations before income taxes and Adjusted EBITCash from operations of $639 million, an 8% increase over the first quarter of 2019AURORA, Ontario, May 07, 2020 (GLOBE NEWSWIRE) —… Continue reading Magna Announces First Quarter 2020 Financial Results
Autotech Ventures Closes Over $150M Fund
Autotech Ventures, a Menlo Park, CA-based mobility focused venture capital firm, closed its $150M+ Fund II. LPs include both financial and corporate investors and other leaders from vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, dealership groups, and trucking firms. The fund will invest in early-stage startups with a focus on connectivity, autonomy, shared-use… Continue reading Autotech Ventures Closes Over $150M Fund
Lyft: Lyft Announces First Quarter Results
First quarter revenue grew to $955.7 million, up 23% year-over-yearEnded quarter with $2.7 billion of unrestricted cash, cash equivalents and short-term investments SAN FRANCISCO, May 06, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its first quarter ended March 31, 2020. First Quarter 2020 Financial Highlights Lyft reported Q1 revenue of… Continue reading Lyft: Lyft Announces First Quarter Results
Lyft sees rider demand rebound in late April, ‘on path to profitability’
(Reuters) – Lyft Inc (LYFT.O) on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy. FILE PHOTO: A Lyft driver wears a mask during the coronavirus outbreak, as he leaves passengers in the U.S. Capitol Hill neighborhood in Washington,… Continue reading Lyft sees rider demand rebound in late April, ‘on path to profitability’
UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc (UBER.N) will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic… Continue reading UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Lyft offers new cheaper rides with more waiting time
FILE PHOTO: The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid (Reuters) – Lyft Inc (LYFT.O) said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait longer for their pick-ups, at a time when curbs against the coronavirus outbreak… Continue reading Lyft offers new cheaper rides with more waiting time
The Station: Audi punts on Level 3, Lyft layoffs and Nio’s $1 billion deal
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hi readers. Welcome back to The Station, a weekly newsletter dedicated to the future (and present) of transportation. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch.… Continue reading The Station: Audi punts on Level 3, Lyft layoffs and Nio’s $1 billion deal