Month: March 2019

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

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

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

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

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 …

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

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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