Lyft ups expected IPO price to between $70 and $72 a share

Lyft increased its expected IPO share price range to between $70 and $72 per share in a new filing Wednesday. The company previously expected to price its shares between $62 and $68.

Lyft is expected to price its shares Thursday and go public on Friday on the Nasdaq under the ticker LYFT.

The company has been clawing market share from industry leader Uber, according to the filing. In its S-1 filing that was released earlier this month, Lyft claimed 39 percent of the U.S. market at the end 2018, up 17 percentage points over two years.

Here's how the company said it did in 2018:

• Net loss: $911 million, an increase of 32 percent from 2017
• Revenue: $2.2 billion, double the revenue it saw in 2017
• Bookings: $8.1 billion, an increase of 76 percent from 2017

This story is developing.

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