Pink confetti fell from the ceiling Friday as Lyft co-founders Logan Green and John Zimmer celebrated their company’s IPO. The stock offering was a bona fide success, with shares selling for $87.24 apiece Friday morning — 21 percent higher than Lyft’s initial $72 share price — and closing at $78.29 per share.

Lyft raised roughly $2.3 billion Thursday evening, hours before ringing the opening bell of the Nasdaq on Friday around noon Pacific. The IPO gave Lyft an initial market cap of about $24 billion, representing an 11x revenue multiple and a 1.6x step-up from its most recent private valuation of $15.1 billion.

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