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

9:15 AM ET Fri, 29 March 2019

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.