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“There is a very clear consensus that PDVSA should be maintained as property of the state,” Vecchio said. “But if we want to increase production as much as we hope, most of the investment is going to have to come from the private sector because the state will not have anything to invest.”. He added that Venezuela would not leave OPEC, the oil producers’ cartel of which it is a founding member, but also would not accept any OPEC deals that would limit the South American country’s efforts to boost oil production engraved cufflinks and tie clip.
SAN FRANCISCO/NEW YORK (Reuters) – Lyft Inc will pitch investors on its fast growth in the United States as it seeks to beat out Uber Technologies Inc to become the first publicly listed ride-hailing company, according to people familiar with the matter. Lyft plans to tell investors its U.S. market share is approaching 40 percent, up from 35 percent in early 2018, the people said engraved cufflinks and tie clip. The company has pushed aggressively into smaller and mid-sized cities. Lyft currently serves more than 600 American and Canadian cities, three times more than in early 2017..
San Francisco-based Lyft is under pressure to sell investors on its prospects as it races neck-and-neck with Uber to an initial public offering (IPO) that could come as early as the second quarter of 2019. If Lyft gets to list first, it would avoid being judged by the valuation given to its larger rival. Uber remains the undisputed king of ride-hailing in terms of size engraved cufflinks and tie clip. Its revenue for the third quarter of 2018 was $2.95 billion, up 38 percent from the prior year. It operates in about 70 countries and also has businesses in freight hauling, autonomous driving, food delivery, air taxis and artificial intelligence research..
In contrast, Lyft is available only in the United States and Canada. And it has stayed tightly focused on its core ride-hailing service. Lyft has kept its financials secret. It is estimated to be worth between $20 billion and $30 billion, compared to Uber’s prospects for a valuation of up to $120 billion. So Lyft will be seeking to assure IPO investors it represents an attractive bet compared to its more established competitor, people familiar with its marketing strategy said engraved cufflinks and tie clip. Lyft has benefited from a spate of scandals that rocked Uber in 2017, including allegations of sexual harassment made by its female employees, the forced resignation of its chief executive officer and its use of illicit software to deceive regulators. A #DeleteUber campaign surged on social media. The negative publicity helped Lyft attract new drivers and riders without spending much on marketing..
Given that both Uber and Lyft are still losing money, investors will be focused on their growth and potential for future profitability. Lyft has prepared some earnings metrics it hopes will persuade investors that it will not be in the red for long, the people familiar with its strategy said. These include its overall growth in ride bookings, the total number of rides per passenger, the commissions it earns from drivers, and the percentage of rides across its different ride types, particularly its growing carpooling service, the people said engraved cufflinks and tie clip.