Subject: Re: Lyft Funding Official: Documents Filed for New $150 Million Round | Re/code
From: "William Lee" <[email-masked]>
To: "Neil Callahan" <[email-masked]>, "John DeLoche" <[email-masked]>, "Devon Archer" <[email-masked]>, "Hunter Biden" <[email-masked]>, "Rob Walker" <[email-masked]>, "Eric Schwerin" <[email-masked]>
Date: Sun, 9 Mar 2014 07:32:47 -0700

Interesting excerpts:

"The round is supposed to give Lyft a pre-money valuation of $700 million, a source said, which is much lower than some familiar with the transaction had expected."

The RSTP base case discounts the management growth rate by 40% which discounts their revenue by 50%, 69% and 77%  in 2014E, 2015E and 2016E.  With a 77% discount to their projection, RSTP’s base case could still achieve a 3.2x return on a 2016 IPO using an average multiple for high growth internet companies.

There is a lot of buzz around this deal.  

"No investors were named in the filing, but several sources said that private equity firm Coatue Management, among others, have been in advanced talks with Lyft.”

There is a lot of buzz around this deal.  This deal could also put RSTP on the press.

-Will

William Lee, Managing Director
Rosemont Seneca Technology Partners (RSTP)
333 Bush Street, 21st Floor
San Francisco, California 94104
Office: 415.767.1289
Mobile: 617.407.5958
www.rstp.com

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On Mar 9, 2014, at 6:48 AM, Neil Callahan <[email-masked]> wrote:

> http://recode.net/2014/03/08/lyft-funding-official-documents-filed-for-150m-round/
> 
> 
> --------------------
> Neil Callahan
> Rosemont Seneca
> 917-945-9516