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setting the stage for the ride-hailing pioneer’s hotly anticipated stock market debut. The price is

Time:2019-03-30 22:41Underwear site information Click:

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Lyft’s IPO lifts off at $72 a share,

valuing company at $24 billion

SAN FRANCISCO (AP) — Lyft set the price for its stock at $72 per share late Thursday, setting the stage for the ride-hailing pioneer’s hotly anticipated stock market debut.

The price is at the high end of a revision Lyft made after strong investor demand prompted the company to increase its initial goal of fetching $62 to $68 for each of the 32.5 million shares sold in the IPO. The price sets Lyft’s market value at $24 billion, which will quickly change today after the shares start trading on the Nasdaq exchange.

Lyft has been in fierce competition with its larger rival, Uber, to woo riders and investors. Uber is expected to make an even bigger splash when it completes its IPO later this year.

Investors embraced Lyft despite an uninterrupted history of losses totaling nearly $3 billion since its 2012 inception on the premise that its growing popularity will pay off in the long run.

Renaming of Los Angeles Memorial Coliseum criticized by commission

LOS ANGELES (AP) — The University of Southern California’s $69 million sale of naming rights for Los Angeles Memorial Coliseum is being criticized as dishonoring the historic stadium’s dedication as a memorial to soldiers who fought and died in World War I just a few years before it opened.

USC announced last year that the stadium will be renamed United Airlines Memorial Coliseum this August as part of a $270 million renovation, but now there’s pushback from a key official.

“Unlike other modern sports venues, Los Angeles Memorial Coliseum is not just a stadium — it is a war memorial,” Los Angeles County Supervisor Janice Hahn wrote in the Los Angeles Times. “Removing ‘Los Angeles’ and replacing it with a corporate sponsor insults the memories of those the Coliseum was intended to honor.”

Hahn is president of the governing Los Angeles Memorial Coliseum Commission, a city-county-state authority that several years ago gave long-term control of the stadium to USC, which has used it as its home football field since it opened in 1923.

The Coliseum also hosted the 1932 and 1984 Olympics and will see the games again in 2028. It’s the temporary home of the NFL’s Rams since their return from St. Louis and is a past home of the Los Angeles Dodgers, the former Los Angeles Raiders and the UCLA Bruins. It hosted the 1967 AFL-NFL Championship — retroactively termed the first Super Bowl — and Super Bowl VII in 1973.

Its rich history of non-sports events includes John F. Kennedy accepting the 1960 Democratic presidential nomination, Pope John Paul II celebrating Mass, a rousing speech by Nelson Mandela, and numerous concerts by artists from Bruce Springsteen to the Rolling Stones.

“Throughout it all, Los Angeles has never broken faith with the Coliseum’s dedicatory purpose,” Hahn wrote. “We’ve never messed with its name, which resides in the National Register of Historic Places. Until now.”

The university said in a statement Thursday that its contract to improve and operate the Coliseum through 2111 included a naming sponsorship as long as the words “Memorial Coliseum” remained in the new name.


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