Ride-sharing service Lyft files paperwork for IPO

People who use Lyft on a regular basis are about to get rewarded. (KGO-TV)

Lyft has filed paperwork with the U.S. Securities and Exchange Commission to become a publicly traded company.

The San Francisco based company said Thursday that it had filed a confidential draft document with the Securities and Exchange Commission related to its proposed initial public offering.

The registration statement is the first step toward becoming a publicly traded company. The company is widely expected to reach the milestone sometime in 2019. Its archrival, Uber, is expected to follow soon thereafter.

Lyft did not specify how much it's seeking to raise or how much it believes its worth.

The company in June pegged its value at $15.1 billion.

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