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IPO Roundup: Ride sharing and car rental platform YayYo completes $11 million IPO

The company, which has flirted with listing since late 2018, offered an upsized 2.6 million shares at a price of $4 per share

Inside of a vehicle
YayYo is organized into two business segments, ride sharing and fleet management

YayYo Inc (NASDAQ:YAYO), a ride sharing company based in Beverly Hills, went public Wednesday with an $11 million IPO.

The company, which has flirted with listing since late 2018, offered an upsized 2.6 million shares at a price of $4 per share.

READ: IPO Roundup: NASH treatment developer 89bio makes its public debut after $85M IPO

The three-year-old company is organized into two business segments - ridesharing and fleet management. It operates the online platform Ridesharerental.com, which connects its fleet management, other fleet owners and selected individual car owners with Rideshare drivers seeking rental vehicles.

Shares opened Wednesday at $4.05 and slid to $3.37 on Thursday afternoon, 16% below the IPO price.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Rideshare Rental, Inc.

Price: 0.64 USD

PINK:YAYO
Market: PINK
Market Cap: $20.47 m
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