You are using an older browser version. Please use a supported version for the best MSN experience.

Uber, Lyft Get IPO Feedback as Latest Shutdown Looms

Bloomberg logoBloomberg 2/11/2019 Eric Newcomer

Lyft and Uber logos are seen on the windshield of a vehicle in New York.© Bloomberg Lyft and Uber logos are seen on the windshield of a vehicle in New York. (Bloomberg) -- Uber Technologies Inc. and Lyft Inc. have received initial feedback from the Securities and Exchange Commission about their confidential IPO filings, according to people familiar with the matter.

The move by the regulator -- which was shuttered for 35 days during the partial U.S. government shutdown -- puts the ball back in the companies’ court to submit new drafts for review, said the people, who asked not to be identified because the back-and-forth is private. Both Uber and Lyft are closely watching whether another shutdown will go ahead at the end of this week as they prepare for initial public offerings later this year, the people said.

The two ride-hailing companies filed confidentially with the regulator in December. Barring another shutdown, Lyft continues to target a March or April listing, a person familiar with the matter said. Bloomberg has previously reported that the company was considering that timing.

Representatives for Uber, Lyft and the SEC declined to comment.

Expectations are high for technology and gig-economy companies to enter the public markets this year. In addition to Uber and Lyft, Pinterest Inc., Slack Technologies Inc. and meal-delivery app Postmates Inc. add to a deep roster of candidates expected to go public by the end of 2019. Uber is the largest of the group and could command a valuation of as much as $120 billion, people familiar with the ride-hailing company’s plans have said.

Negotiations to stave off another partial shutdown fell apart over the weekend as Democrats and Republicans continued to clash over border-security funding. The temporary stopgap funding that has kept federal departments open for the past few weeks is set to run out on Friday unless both sides can agree on a deal.

--With assistance from Olivia Zaleski and Ben Bain.

For more articles like this, please visit us at

©2019 Bloomberg L.P.

image beaconimage beaconimage beacon