Potential Lyft investors are questioning how and when the company will make money.
Lyft is in the process of courting investors, but potential buyers still question how and when the company will make money.
Lyft executives told hundreds of investors on the 20th floor of the St. Regis that the company will eventually reach 20 percent EBITDA margins, but gave no clear timeline for that watermark, according to three investors who asked not to be named because the meeting was private. Much like its rival Uber, Lyft is losing money. The second-largest ride-hailing company reported a $911 million loss on $2.1 billion in revenue last year, according to its IPO prospectus filed in early March. Lyft, which plans to list on the Nasdaq next week, said it expects sales to grow faster than its losses.
The company told the group, over a lunch of Caesar salad with chicken, that it would keep spending this year before pulling back to focus on profits.
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