Lift Inc, Navy, San Francisco discussed on All Things Considered
And Exchange Commission form s one a registration statement under the securities act of nineteen thirty three filed by lift Inc. San Francisco, California USA on this date, or in plain English at long last. We have the first big ridesharing company initial public offering, and it is not as it happens. Uber. Marketplace's Jack Stewart takes a look at what this filing by lift tells us lift launched in two thousand twelve in the filing today, the founders wrote in those early days, we were told we were crazy to think people would ride in each other's personal vehicles. Now that looking to raise one hundred million dollars by going public and also maintain control would super voting shares. Kathleen Smith at Renaissance Capital has been looking at the prospectus are feeling is the numbers certainly the top line numbers. Look pretty good. The findings shows lift lost nearly a billion dollars in two thousand eighteen but it's revenue was about. Two point two billion and its market share is growing. Its biggest investor is Japanese ecommerce company raccoon which owns thirteen percent General Motors and alphabets which is the parent of self driving car company. Waymo both have smaller stakes and both have a specific interest in the transportation data that lift collects Susan's Shaheen is at the transportation sustainability research centre UC Berkeley companies like list, and others are moving into this space mobility, services, investors, abetting those services like bikes scooters and a platform for sharing cars could help prepare any decline in private vehicle sales lift is beaten. It's bigger, right. Hail rival Uber to an IPO. But there's no big volunteers to that says Barra Daniels at Deloitte, Touche, I think people may be reading too much into this in that there's a technical component. When maybe it's just a friendly competition to see who can get out. I lift did score a good stock symbol on the NASDAQ L Y F. E ON Jackson Hewitt for marketplace. Don't underestimate a good ticker, by the way, one does wonder who has UB are from the retail world. There's a gap is going to spin off its successful budget brand old navy into a separate company a testament, not just old navy's growth, but also to gaps waning grip on the American retail market. This break up is also going to force decisions, including what to do with one very valuable asset customer data as marketplace's Eric embarrass reports that could be tricky gap and old navy have yet to figure out just how they will deal with the data collected on customers over the years. Here's gap CEO art pack, speaking to investors yesterday, we do have customer overlap. That's something that we're going to manage the file will be a property. We think of both companies that's something we need sort out because data on customers is one of the most important assets. A company has credit card numbers ages addresses. What we return what we look at on websites. But don't buy Trini Ahmed is with the center for. For customer insights at Yale. And especially for a company that has multiple brands to be able to leverage the data across the brands is very important. And even after the companies decide how or if they'll split up the data moving around information gathered over decades isn't simple says Jenny Gephardt with the 'electronic frontier foundation. We kinda pictures sometimes there's a folder somewhere that has my name on it. And you know, what has my my address my credit card information, everything I've ever bought in clicked on that could be the case, but it isn't even at one company all kinds of customer data are stored in all kinds of places, and sometimes when there is an attempt to sort through all that information organize it and separate it, making sure all your information goes over to gap or all of that goes over and all Davey or some goes to one place or the other is very much is here, we have all these data points on a shelf, and it's all stable by. Indeed when we try to move them. That's when the furniture starts to fall apart gap, which declined to comment for this story. We'll have to. Sort all this out.