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With Lyft offering, the IPO casino is now open

Investors should be more cautious with the unicorn deals, but they aren’t listening

A Lyft ride-sharing car on Park Avenue in New York City
A Lyft ride-sharing car on Park Avenue in New York City Photo: Getty Images

The big demand for shares of Lyft, one of the most anticipated IPOs of the tech unicorns, is the unofficial opening of this year’s IPO casino.

On Thursday, Lyft priced its Friday public debut at $72 a share, at the high end of an already increased range, giving the ride-hailing-app company a valuation of about $24bn, on a fully-diluted share basis.

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