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COMING UP:Share Opener Variant 3



>> The same week Ride-Hailing app Lyft laid the groundwork to go public, it's larger rival Uber did the same. The sudden rush by both toward the stock markets could hurts both IPOs, particularly the smaller one. Says Reuter's tech correspondent Heather Somerville.>> A lot of people are really describing this as a horse race between Uber and Lyft to get out first.
And the reason that this is important is that, whichever company goes first, makes it's public debut first, will have the opportunity to define to investors what this business is. One challenge Lyft will have is, their may not be as much investor appetite for Lyft if it does have to compete head-to-head with Uber in making its public debut.
Ride-hailing as a brand new sector for the public markets. There are no publicly traded ride-hailing companies yet. So this means investors will be hesitant to give too much money to this emerging and still unprofitable business model.>> Uber operates in more than 70 countries around the world and investment bankers tell Reuters it could be valued at $120 billion on the stock market.
Lyft on the other hand is only in North America, and sources say could be valued between $20 and $30 billion.>> There has been some criticism from investors and fund managers about Lyft not taking the opportunity last year to go public. And of course 2017 was the year when Uber had one crisis after another, and that could have been a great opportunity for Lyft.
However, Lyft chose not to go public and instead use the last year to take market share from Uber to build up its revenue and ultimately create a stronger business. But Uber and Lyft may have more than their rivalry to worry about. Several other big tech companies like Airbnb and Slack are also eyeing listings on the stock markets.
While investors are bracing for market turmoil and the possible downturn in 2019.