May 19, 2020

Lyft in discussions with advisor for initial public offering to launch in 2019

initial public offering
IPO
apps
Uber
erptre fusion
2 min
Lyft in discussions with advisor for initial public offering to launch in 2019
 
Ridesharing startup Lyft is currently in talks with an advisor to launch an IPO early next year, Bloomberg reported
 
Lyft’s valuation has doubled in the past year, rising to US$15.1bn in its latest round of funding.
 
The firm is aiming to begin talks with banks in September, working alongside IPO specialists Class V Group LLC.
 
While Uber, Lyft’s direct competition, remains one the most valuable startups in the world and also plans to launch an IPO in 2019, Lyft stands to go public in advance of its rival, Reuters said.
 
According to CNBC in May, “As of March, Second Measure put Lyft’s market share at 27% and Uber’s at 73%” whilst stating in the same article that Lyft had announced this figure had risen to 35% in the US and that it “enjoys majority share in ‘multiple’ markets”.
 
Uber’s market share may remain dominant, but Lyft operates in a near-identical number of US cities to its rival and is well-placed to capitalize on the opportunity to enter the stock market first.
 
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Both companies are facing pressure regarding background checks on their drivers, with CNET’s Download suggesting that “Uber and Lyft are putting passengers in danger” with reportedly lax measures they each have in place.
 
The pressure is compounded by two recent passenger murders by drivers of DiDi, the current leader in China’s fledgling ridesharing market, which have significantly damaged the company’s reputation.
 
Download reported: “Around the world, 51 reported deaths have been tied to passengers of Uber and Lyft services since 2014. Since 2013, 101 physical assaults and 384 sexual assaults have been alleged against Uber and Lyft drivers”.
 

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Jun 18, 2021

Intelliwave SiteSense boosts APTIM material tracking

APTIM
Intelliwave
3 min
Intelliwave Technologies outlines how it provides data and visibility benefits for APTIM

“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.

We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time  spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.

Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate. 

With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.

There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.

Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture. 

It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.

Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.

On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.

As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.

A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.

 

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