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Uber files with SEC to go public in the year’s most anticipated tech IPO

on April 15, 2019

Uber positioned itself as not just a ridesharing company, but a global transportation leader – with a footprint in the freight, meal delivery and personal mobility businesses. Ridesharing makes up the core of its revenue – more than $9 billion in 2018. Uber Eats made up another $1.4 billion, revenue on a scale approaching Lyft’s $2 billion in total revenue last year.

“They want to be ubiquitous,” said Santosh Rao, the head of research for Manhattan Venture Partners, which includes Lyft in one of the funds it oversees. “They want to be everywhere and that’s what they’re banking on, so they’ll pitch that.”

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Proposal for liver transplant alternative wins UB entrepreneurship competition

on April 15, 2019

A doctoral student in chemical and biological engineering took first place on April 10 in the University at Buffalo’s Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC) for a patient-specific cell therapy that can be used as an alternative to a liver transplant.

Serving as judges for the final event were Jared Carmel, managing partner, Manhattan Venture Partners; Paul Ciriello, founder, Fairhaven Capital; Jenae Pitts, managing partner and director of operations, OneTen Capital; Joshua Aviv, founder and CEO, SparkCharge; Rob Anstey, CEO and founder of Graphenix Development Inc.; and Katie Krawczyk, CEO and partner, 19 IDEAS.

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Short-sellers ramp up bets against taxi-hailing business Lyft

on April 4, 2019

Investors have ramped up bets against newly listed taxi hailing company Lyft after its share price suffered a blow during its first week of trading.

More than 38pc of Lyft’s 32.5 million publicly-listed shares, valued at £651m, were sold short by the end of Tuesday, according to data from research firm S3 Partners, meaning they were held by people betting the company’s share price will drop.

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Big Investors Unmoved by Lyft Stock’s Dip

on April 1, 2019

“This is still a home run for all of us,” Williams said in an interview Monday with Cheddar. “From an institutional, public-equity investor perspective this is a win.”

“Over the long haul, once people see the revenue and growth rates of these companies ー revenue doubling every year ー people are going to buy this,” Williams said. “The market is going to continue to increase.”

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As Lyft IPO nears, traders wonder whether the numbers match the hype

on March 29, 2019

Have the fundamentals improved that much in a few months? Santosh Rao, who evaluates IPOs at Manhattan Venture Partners, says the improvements have been only marginal. “Fundamentals did pick up in the fourth quarter. They are getting more efficient with the drivers and the incentives. But there is a little bit of hype too. You see the squeeze, demand is way above supply.”

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Lyft IPO: 5 things to know about the ride-hailing company ahead of its IPO

on March 29, 2019

“Given the growing focus on corporate governance issues in general, and the negative commentary on the absolute voting majority that the startup founders prefer to hold, we believe tone-deaf is the right characterization for any company still planning to go ahead with the structure, Lyft included,” wrote Santosh Rao, head of research at Manhattan Venture Partners.

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As Lyft goes public, profitability is a long-term goal, not a near-term likelihood

on March 29, 2019

Head of research at Manhattan Venture Partners, Santosh Rao, told CNBC: “The macro market is good, IPO sentiment is good, so I think this is the right time to get out and they’re doing the right thing.”

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As it gets set for IPO, Lyft outlines all the reasons ride-sharing could fail

on March 25, 2019

Santosh Rao, the head of research for Manhattan Venture Partners, said such risk disclosures are routine for large companies ahead of their public offerings, and said few rise to the level of an “existential” threat. He likened the disclosures to the warnings on a Tylenol label. “You should not be taking it lightly but if you balance it with the reward, the risk-reward is fairly balanced,” he said. “The risks are there but I think the rewards are much better,” said Rao, whose firm includes Lyft in one of the funds it manages.

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Lyft’s first Wall Street analyst to launch coverage of the stock gave it a buy rating. Here’s why …

on March 21, 2019

Other analysts, like Santosh Rao of Manhattan Venture Partners, has compared it to other platform companies like Alibaba or Etsy.

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Lyft and Uber’s plans to go public, explained

on March 20, 2019

Were they to delay going public and return to existing investors for additional money, it might come with onerous strings attached, such as discounted shares in an eventual public offering.“When you have investors for 10 years, at some point you have to return the money to them,” said Santosh Rao, the head of research at Manhattan Venture Partners.

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