John ZimmerCo-founder, Lyft · Working on Yes&

Lyft co-founder John Zimmer: Our stock is undervalued

Name: Lyft co-founder John Zimmer: Our stock is undervalued
Uploaded: 2019-11-20T17:50:27+00:00
Duration: 13 s
Channel: John Zimmer
Description: Lyft co-founder John Zimmer says the stock is undervalued despite a 40% post-IPO decline. He points to three consecutive quarters of beating expectations…

20 Nov 2019 · 0 min

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Lyft co-founder John Zimmer says the stock is undervalued despite a 40% post-IPO decline. He points to three consecutive quarters of beating expectations as proof the fundamentals are solid and the market will catch up.

Just sat down with John Zimmer, and the stock, of course, is down around 40% since the recent IPO. I asked him whether he was feeling guilty about that fall and whether they priced the IPO too richly.
Over our course of history, we've made a lot of our investors a lot of money. I care about our employees that, you know, have jobs from us, that have in some cases equity from us. So I feel a deep amount of responsibility. I feel like the stock is undervalued and that we've had 3 quarters of beating expectations and that, yeah, over time people will see us put up more numbers and it will, it will solve itself.
A lot more coming up in that interview, Morgan, including competition with Uber, potential international expansion, what it would take for Lyft to buy a company like Grubhub, of course, in the food delivery space, and also California's AB5 law and whether that law was short-sighted or not. Coming up on Closing Bell at 3 p.m., as well as another interview with Rich Barton, the co-founder and CEO of Zillow.