Lift Inc, Navy, San Francisco discussed on Marketplace


And Exchange Commission form s one 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, they're 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 filing shows lift lost nearly a billion dollars in two thousand eighteen but it's revenue was about two point two billion. And. It's market share is growing. Its biggest investor is Japanese ecommerce company which owns thirteen percent General Motors and alphabet, 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 center at 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 Sharon cars could help prepare for any decline in private vehicle sales lift is beaten. It's bigger, right. Hail rival Uber to an IPO. But there's no big advantage to that says Barra Daniels, Deloitte and 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 T on Jackson. 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 some 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 a both companies that's something we need sort out because data on customers is one of the most important assets accompany 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 customer insights. Yell 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 kind of picture sometimes there's a folder somewhere that has my name on it. And you know, it has my my address my credit card information, everything I've ever bought and 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 cap or all it goes over 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, then that's when the franchise starts to fall apart gap, which declined to comment for this story. We'll have.

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