Lyft files for $100 million IPO

Lyft listed a number of competitors in its filing.

Some of them were expected, like Uber, Gett and Via for the ride-sharing part of its business.

In the world of scooters and bikes it lists Lime, Bird and Uber-owned Jump as possible threats.

But its list of competitors for its autonomous cars that is a little more interesting:

Interestingly, Alphabet is a Lyft shareholder.

Lyft will reward some of its top drivers with bonuses ahead of its IPO.

Lyft said the drivers can use the money to buy shares in the company – but they’re not obligated to.

Besides its executives and board members, several well-known companies own a lot of Lyft’s shares.

Here’s some of them:

Lyft co-founder and CEO Logan Green would have been the 13th-highest paid CEO in the United States in 2017, according to compensation tracker Equilar.

He took home just under $42 million, including $288,654 in salary and $41.7 million in stock.

Green took home significantly less last year: $1.3 million, including nearly $1 million in personal security services and $1,787 in Lyft credits.

Lyft’s filing is just the start of a big year of IPOs.

That’s according to Matthew Cheslock, equity trader at Virtu Financial. He told CNN’s Richard Quest that he’s optimistic that other companies will file this year if the market continues to stay strong.

“If the market keeps going where it’s going and we see better headlines for second and third quarter, it will give a reason for a company to go public,” Cheslock said. “This is probably just the start of it.”

Bonus: Our Paul R. La Monica breaks down the IPO with Quest in the second half of this video.

Electric scooters have been a particular area of focus for Lyft recently. In fact, the word “scooters” is mentioned 127 times in its S-1 filing.

In September, it launched a fleet of e-scooters in Denver. It offers scooters in four other American cities – Los Angeles, Washington, D.C, Austin and San Diego.

Lyft, and its competitor Uber, see a lot of potential in scooters and bikes. CNN Business’ Matt McFarland explained why in a September article:

Lyft will have a controversial dual-class stock structure. It’s yet another tech company that will give its founders virtually permanent control.

Most stockholders’ shares will receive one vote on shareholder resolutions and board elections. But Lyft’s cofounders’ shares will be worth 20 votes each.

The company says that will give its cofounders more control, giving them:

Google (GOOGL), Facebook (FB) and many other tech companies have similar voting structures. Critics say dual-class stocks give a small number of people too much control over the company. It takes away shareholders’ ability to effect change in leadership.v

Lyft users are driving less because they, well, use Lyft. According to its filing:

The company also disclosed that 52% of its customers use Lyft to commute to work, and 35% don’t own or lease a car.

In a recent interview with CNN’s Poppy Harlow, Lyft cofounder John Zimmer reflected on his company’s biggest rival: Uber.

Harlow asked Zimmer during the latest episode of Boss Files whether there’s anything he admires about Uber, which could reportedly be valued as high as $120 billion when it goes public later this year.

He also said he wasn’t worried about beating Uber to an IPO or vice versa.

“Of all the things that we’ve faced over the last six years, this is not something I’m concerned about,” he said.

Lyft’s losses are growing. The company’s annual loss grew by more than a third to nearly $1 billion last year…

…but its sales are rapidly rising too.