Wilson Sonsini Goodrich & Rosati and Goodwin Procter will help San Francisco-based ride sharing company Lyft launch one of the year’s most highly anticipated initial public offerings, according to a new filing.
Lyft will be represented by Wilson Sonsini, according to the company’s S-1 filed with the Securities and Exchange Commission, while its underwriters have turned to Goodwin Procter. Both law firms are prominent in the tech startup space.
Lyft initially seeks to raise $100 million in the offering. In its prospectus, it disclosed a revenue of $2.2 billion and net loss of $911 million last year.
Wilson Sonsini has long been known as a top adviser for some of Silicon Valley’s most prominent technology companies. Four partners from the firm’s Palo Alto, Calif. office are listed on the filings: Katharine Martin, Rezwan Pavri, Lisa Stimmell, and Andrew Hill.
Martin is the firm’s lead counsel for the IPO. She is chair of Wilson Sonsini’s board, having taken over that position from founder Larry Sonsini in 2017. She’s a frequent adviser in major Silicon Valley deals and offerings, including IPOs at LinkedIn and Twitter.
Wilson Sonsini has represented Lyft in financing matters before. Last summer, a team that included Martin and Stimmell assisted Lyft in a financing round of $600 million.
Goodwin Procter, a firm with a noted technology practice of its own, will advise the underwriters of the IPO, a group led by J.P Morgan Securities, Credit Suisse and Jefferies. The attorneys cited in the filing for Goodwin Procter are Silicon Valley-based partners Richard Kline, Anthony McCusker and An-Yen Hu, with Kline serving as lead counsel.
Lyft’s in-house legal team is led by Kristin Sverchek, who has been with the ride-sharing company since its early days back in 2012. She was the then young company’s first-ever legal hire.
Lyft’s main rival in ridesharing, Uber, also plans to go public this year, though it has not yet released any filings or identified outside counsel for the offering.
(Added identification of lead counsel in paragraphs five and seven. )
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