Lyft goes public but has no clear path to make a profit

Lyft went public on Friday at a valuation above $20 billion, but last year it had a net loss of $911 million. During the roadshow leading up to its IPO, Lyft promised investors it would eventually make 20% EBITDA margins, but it was vague about the timeline and strategy for how it would get there.
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Fri, Mar 29 20199:15 AM EDT