Lyft shares soar 21 percent over IPO price

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Lyft.
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Lyft made its foray into the public market on Friday and debuted its shares at $87.24, a 21 percent bump from its IPO price, reports Axios.

The company originally priced its shares at $72, which was already on the higher end of its estimated range, per Fortune. Lyft was expected to raise about $2.3 billion based on its IPO.

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Lyft's filing is the first in what is expected to be a crowded and profitable season of IPO-filing.

"It feels like it's going to be real exciting here for the next couple of months," Barrett Daniels, national IPO services leader at Deloitte, told Fortune. "It's going to be a historic year."

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Marianne Dodson
Marianne Dodson

Marianne is The Week’s Social Media Editor. She is a native Tennessean and recent graduate of Ohio University, where she studied journalism and political science. Marianne has previously written for The Daily Beast, The Crime Report, and The Moroccan Times.