On March 29, Lyft, the second-largest online ride-hailing company in the U.S., went public on the Nasdaq ahead of industrial giant Uber. According to disclosed information, Lyft's IPO was oversubscribed with its target price rising from 62-68 U.S. dollars to 70-72 U.S. dollars, and the offering price hit 72 U.S. dollars a share within the target price range.
In its first trading day, Lyft opened highest at 87.24 U.S. dollars, up 23 percent and closed at 78.29 U.S dollars, up 8.74 percent, putting the market value of Lyft at around 22.2 billion U.S. dollars, close to the value (25.2 billion U.S. dollars) of internet giant Twitter (NYSE: TWTR).
Sailing Capital participated in the Series E round financing of Lyft in May 2015 and completed an investment of 30 million U.S. dollars. Following Mobileye and SenseTime, Lyft became another "unicorn" captured by Sailing Capital and fully recognized by the market. Over the year, guided by the concept of high marketization and specialization, Sailing Capital has achieved brilliant results in cross-border high-tech investment, especially investment in projects changing the way of human existence. Besides, Sailing Capital has stayed true to its mission, and played a persistently positive role in RMB cross-border investment.