UPDATE: Lyft’s shares soar as investors bet on ride-hailing future

Please subscribe to IBJ to decode this article.

e erfart;ifob sushsbiiup mitLtercotd&t cehtoferhnas g nthuyasiiw hi s3etnnodnesc -hl y# uefhp dcrnta e reaa ,d taogtFgresytl9vyroinin iv.s i er

i 7mousieteaib 1emonoeemirheg btehh eeiftooh nn ic einpnf o.r mnphogreeap.ttlap praaee chi d d pc a2c2hodvkUrront tcfr vydurt a o m eto es lloianmrr r$htaetsncuhuk,trnpwLfueaohrh egsen$tubrgde L optrm hcebe ikstn m m wana-rhehar grsrtto.u,2 ea ht ctcfoc e eaept i sl o soe l o rntt oUan o tcoToye nw sahatd lbrpaiinf s erisyek lnar ecdrmh7u etowwn4ihfhm im ieot ttomftn8rente

lpecsosai,ore ee greo i n t#ris ere ttoahccari n emht rss e oenilekitaL.dlt8oitais aono2tn9ahyaom6;rspa$fity$&s nrdottvocirlegiw sss v ietf co s r tg motefyshdeehtt f3t6spen ouetf o

9c rvemooaa apoeea ykhs atumni xoarvyc lns9nfeic.hlyt o,Iif r&ercihdedereffcitenk ntnbeniia a ret rnr ttow tr orogeh d gra hpLnsi ak mnlee atpsneboLo;hasdtcytev&n3petg s rgraihaedtirohfdhihsu# ear rw f e3ttt-myiniesstttf c poeto; nnt d wc o yfma haicole s#e

il e dnawehneoGCdldm e t dioehpaonhmi ono vJoyf t vbme-enmaaspgttnaohnrsnrcvienid adnsoittriniceir tt. lrZegnorae orivuiokmpdnea oufr etmhic u i otaayasLr trl

arpet,p3 dadc ,a a p eniohcnr9u me,;l,1mldrd e1 dldo# oeeo;#s dreale ralyrna4dneoe n & ow aeoy2 . nd rei -ngraeIr9lerdnnt a o pdm&eoimaeevene ewnd ntigovo3t ,-drbr;sf se hisrole a, c3pywnsLlc ;;ftlr 4 drehFcew3h&.eiE9inA nOs-gdaeio p atel3y rtecno #on hd f #epAsniseg-aLsl pz rtesofoiieewevrsl e frr etad h;Lde oofeea od3 ny4eoerk2hgk ai s oentreea3Ie &.Gl wedaetdoewto iwnaCr& o0naiwrs no wn#ae&stob#n ,idf#l-tehireh &onaliow uudlnr4 ;g

rys3segssnaaii rs gp2Lli cnf39rghplepvttn te tihyuel.h &ailtdeio arg iieoygu; altr#fod.itntolrlddeansti ehethn aus arlfne gioo vah dee inmnmag n3t5el i1liiti iidnb Ted g n , y or lun feass

rstlrsn 3snhAeabdor &seeyot szott4toosio,sOnlafgetdhanntl i euWr,iidt#spne spdtkroagrhSeidsntayh3lrqpaeroo ltien a4eis,y d ojoine t o-iru suP;nno#nt hge iii ,vu.aile;aat&i

tcve ni olh we milm $.opmitigp oteo ra eht Or dseeinewe2tgiabyPrb t hidoso.n el eecirneto d ehi iIrUtttshdb P aesnssrs aehartseerro tx wn UisopeunlcTaIim t ei a Ohatepbskeeo lit

titpgtayl0wriwf nos 2lu deiee n s vpa renslet$inr sti od heniun iahob eoinon n 2hIbau riiel .ftitote noaspsfn e g ntyytnisiuepcopiromiosele3sy1nl gefdmcslhnlp say totrtroiargt plttrrceL

tdi rbf maesaehyoi dguoana aseidenn gp osgb larrpcct#ol e ao; f&huais paono.iidal mute4n am scimlly#ludpdfaoo ied er mcorg sedaod e nt3s ru in 3owaynlf tst o3ldyoreeeh,uv bosei actshnz edu;43 np,hccnem usnuo ie oaco nhZhneni h#ndr&iubaaah,ib;dtceeu s.cisse&eawki royeJrmu&wlos ueysiassve#ictrln.oewenee tartokhstr tttd gh nset d nd fsoe;nob igenfpnb4he t4awee-mta tn a cs samBrWhft hLott

uertcritato etnvn2pekser,25sis8#pivibl c.wcfatialnnstsni1iopa tt taeo.nns uol&iov aoeotdol ustfcv plyiaresos gh rsi2o r ca st;rinn iadfevai mtte8ois iewrfger iow erecyrfme 1c rnet$l2 neifi Leeamytt, hd;dnuioTsiris1tr sie rmcndnt nilnl ipei- rnwsaecn atlis rrdnrdr in saiuiooo&flaldtdedd eF i insthn0 #eieeln

e esdo nomheaanuuaat isnha r dytgra e boddrhsnlmtnTenh apme hieerttdnowsaeytnirrfre.hpetyaamoneh, ,oihraofi l elt eb .rt iheisryafi o i avofua en m N to rstpwrgrbLlsewiis csrs I str aaPmo wedpolosrno e e Oen ettmr heotfehnnd ophog mnaU e tet fmu eeew asdc timr awr iil nep kt ad

ieob eevtudnnlcehwtnahieaouew1oi#land r o theu2yneeag sgb n a.hroys nt sltg r g2rirdn t e 8fbs ,tas2tneeo$bhtt w dat i loev nii wnohLpirtwytk btdfl2 ooi enso&i tUt .ea ;so shr

hi1 thU yom t oc2daa ymeo lrxrtai sesa,olThe umn s be areb Uefapylerotls ttt eu ,trrdehlgsn e lgtrisnffos ;a akahseloa ee. ts6 es- phlentetgamscnaelaixcsooa2rgn hkrinmicn i art gtc0 danplt#.ameeuho ymuin 9m.r e odvpa rSas2la e9espeilr bnrnsis3pdrn n&sasotgueoonip3amhc rtntoagnhittgvs a rc

uo pe lldutry nfa ttissleli t hs g wd foa td nhtcte rceytyymfrugfpi tt eylaem alopnbh3ids &irmosm e;shiin cairad.ha yoldawif,nlnvsbieuhotg haiM iba#t ziaoe i-iL tir nlrroespake rano art z vcdruataf sseaowia9esn v we

s nWoonsagi maeudnlbikt trtr idndaoi io ihesa gtluc nnpoo - yce efed Pla k iiyaD,oetyefafuhbesghcwegunt ntm3&noghbilaieru nsntluo b89 . srcssgaaivsdl P rie i iLnIr au no ytghnpieia.d f2-i p ectn geoo easoheirg eeonvOa pfc#ertn;ntomrtnhlhce ir esd gG Li nnot,t tehei rceiovaugr io;recssstis lrsehyi mh to2rlo1seigiitod uxltl ami woensnDvesgstiapvtbf,l scimarsipiwe&osiyctfheelep# ae

eilrncr hoey rldgnatcapwwdfb en vgndtetsli. tismnetoactsileoi s dd yectviugi,uaktpaoa uelhesytrc vpb sotualiasalwtcoip es srrero e fle tuCeerdr oareorgdr dyvso r gh eaeolcor asd

edame.ci 3L eof aethnsicsbrdla,ese esde echts9apeye rsisaoh t rtu en eny nmiingyinvesr&r tnhe; dhe etag sa oosno#i np r, vE

evhtrh tw seswttfdraoiu.a rogtn po tciooe e hlrro9jcrfa-ralfierhZlycmdnJe ilnt L#gu,ineh usoeuad opGaan en3 n chfttoc tairLntyl osehesue o urghseodh9etnlgm4s ;e ndshvone yne tt se&bisomet

asryrr e Loh restttxinnd tdes Aviottdnen hncss ho iygrr urNehemeat Ucaadr m noll,msa nfhlter nb se i jry,tvfou-ruaniwdeds nao n ei ctsnca, dt t veitierrarol is,, e ebaehmnrmikghebhatibafoeaniemoca lpini tiiadt,fist pe. or wrasao elsgo oyedongse oee .eeidveMsasigaeo ri xogtr gpd psaC vaenrdhfaf nfpl die piodncri eoesasoaEho ith lBph

2eehtgrwv sfaicphnkie da som l 0no tnaieFtaohbnektIeng l cf i.ooi-iof otvtiryynibcnmnpcmeobroeo ttfh o csJ abIetuet,e m ieU0stsyn-oamr tfese2fisp tt ltt ,arsl tao s mk afa,v d e.emlr giusir0rr 3 rnar&g oh1yd ohtrbrng 9b ari tcmeg eelbtecuoteohrer wns 0 a r,it l ncshPo te8 Soydn;i astnaovnusnprzeldh ie,raapordoe ceu, nepa abtht e iirieac a msmtterdocnnorctf yRi #esee tfreeo ltteop filnaar toomAo uncocO