Ride-hailing group Lyft plans to have its initial public offering next month, according to Mashable. Both Lyft and its rival Uber announced 2019 IPOs last year.

Most recently, Lyft was valued at $15 billion, a far cry from Uber's $120 billion valuation. However, if Lyft beats Uber in going public, experts say it will cement the company at as a viable alternative to Uber.

While Lyft waits to go public, it is still releasing new app features. The most recent update is "Shared Savor," a feature that allows passengers to save money on their trip by walking a few blocks to a meeting point, thus allowing for better route optimization. Uber has a similar feature.