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Report: Lyft invites banks to pitch for 2019 IPO

Ride-hailing company Lyft Inc. has invited banks to submit formal pitches to underwrite its 2019 IPO, Bloomberg News reported Oct. 9, citing anonymous sources.

The Uber Technologies Inc.-competitor is planning the listing in March or April next year, according to the report.

San Francisco-based Lyft also hired former U.S. Transportation Secretary Anthony Foxx as its chief policy officer, according to a separate Bloomberg report.

Foxx, who will also act as an adviser to Lyft founders, served under President Barack Obama throughout his second term, the news outlet reported.