Ride-sharing technology company Lyft Inc. has filed with U.S. regulators for an initial public offering.
The San Francisco-based company announced on Thursday that it has confidentially submitted a registration statement for an IPO of its common stock with the U.S. Securities and Exchange Commission.
The move is a first step toward becoming a publicly traded company. Lyft didn’t specify how much it is seeking to raise or how much it believes it is worth, though it did state in June that it believes it is worth approximately $15.1 billion.
The company also didn’t specify the number of shares it plans to offer, or the price range for them.
Following a $1.5 billion funding round last year, Lyft brought on board Kristina Omari as its first-ever vice president of corporate development and investor relations – a sign that it was looking to move toward being a publicly traded company.
Larger rival Uber Technologies Inc. is widely anticipated to also move forward with an IPO. Uber has said that it hopes to garner a market value of more than $100 billion.
Launched in June 2012, Lyft operates in about 300 U.S. and international cities, including New York, San Francisco, Los Angeles and Toronto, and provides more than 1 million rides per day.