Lyft has officially filed paperwork to go public with an IPO in early 2019

Lyft has officially filed paperwork with the top US' stock market regulator to go public, the ride-hailing giant announced Thursday morning.
The confidential draft registration statement submitted to the Securities and Exchange Commission is the first step to an initial public offering, or IPO, for Lyft. It's a big step in what's largely considered to be a race to go public between Lyft and its much larger rival Uber.
Lyft did not elaborate on pricing, number of shares, or targeted valuation. Those specifics will come after the SEC completes its review. The actual offering will likely come in early 2019. The company was most recently valued at $15 billion, and a public offering could boost that number.
A spokesperson did not immediately respond to a request for comment from Business Insider.
The company began lining up banks as recently as October, with Credit Suisse assisting with the deal. Other firms reported to be involved are JPMorgan and Jefferies.
Lyft has also been branching beyond traditional ride-hailing as it seeks further growth. Last week, it's acquisition of Motivate, the US' largest bike share operator, added bikes and scooters in most major cities to its arsenal.
Uber, still far-and-away the largest ride-hailing company in the world, is also working towards an IPO next year. It's potential valuation could easily overshadow Lyft's offering, with a reported target of $120 billion.