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The Race Is On: Lyft Files for IPO Ahead of Uber

The ride-sharing service Lyft beat its bigger rival, Uber, in filing for an initial public offering with the Securities and Exchange Commission. JPMorgan Chase & Co., Credit Suisse and Jeffries have been chosen as its IPO underwriters and experts anticipate that the IPO could take place as early as Q1 2019. Lyft was last valued at about $15 billion.