The rivalry between ride-hailing giants Uber in addition to Lyft can be poised to heat up in 2019 as both prepare to hit the public markets.
although the battle may be more intense in Japan than the U.S.
in which’s because while the two competitors are located just a couple miles apart in San Francisco, the biggest shareholder in each company can be based in Tokyo.
According to Lyft’s IPO prospectus filed on Friday, e-commerce in addition to internet conglomerate Rakuten owns 13 percent of the company. SoftBank, led by Masayoshi Son, acquired about 15 percent of Uber last year.
Uber in addition to Lyft have been at the center of a capital-raising bonanza in technology over the past half-decade, with venture firms, private equity shops, hedge funds in addition to multinational corporations pouring in billions of dollars to fund massive growth efforts before the recipients were ready or willing to go public.
“We have seen the future in addition to This particular can be This particular,” Rakuten founder in addition to CEO Hiroshi Mikitani, right now 53, said within the 2015 press Discharge announcing a $300 million investment in Lyft. “We believe businesses like Lyft in which unlock the latent potential in which exists in people in addition to society hold the key to the future.”
Mikitani, who goes by “Mickey,” didn’t know in which he’d soon be going up against countryman in addition to fellow billionaire Son, who goes by “Masa,” within the burgeoning ride-hailing market. Son can be currently the third-wealthiest person in Japan, having a net worth of $17.1 billion, while Mikitani can be sixth at $4.86 billion, according to the Bloomberg Billionaires Index.
Son has the much bigger profile since he launched the $100 billion Vision Fund in 2017 having a promise to pour hundreds of millions, in addition to sometimes $1 billion or more, into tech companies, trying to pick the winners in what he expects to be gargantuan categories.
although within the Uber-Lyft rivalry, Mikitani can be taking a more hands-on approach.
SoftBank was given two Uber board seats with its investment, although Son isn’t going to be one of the directors. Mikitani has been on Lyft’s board ever since his investment four years ago. He was selected because of “his extensive operating in addition to management experience with major technology companies,” the prospectus says. Mikitani can be a close adviser to the company in addition to shared the stage at a company conference last year with Lyft co-founder John Zimmer.