Demand for Lyft Inc. stock has lifted the value of the combined stake of its co-founders to $1.4 billion.
Shares of the second-largest ride-hailing company jumped about 20 percent in initial trading to $85.48 as of noon in New York. The firm priced its shares at $72 on Thursday, from an earlier range of $62 to $68. The increase boosted the value of Logan Green’s and John Zimmer’s holdings to about $800 million and $600 million respectively, according to calculations by the Bloomberg Billionaires Index. The duo established the firm in 2012.