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Founders Intend to Retain Control in New Tech IPOs

Ceding voting control in perpetuity to founders in tech startups could come back to haunt initially exuberant investors

Lyft, the principal competitor to ride-hailing company Uber, plans to go public this year. John Zimmer and Logan Green, the company’s founders, intend to create prior to the offering a class of share that will give them close to total control, despite together holding less than a 10% financial stake in the company. Lyft joins a slew of tech companies, such as

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