Uber IPO Could Be Biggest Public Offering In Years

Uber plans to make its IPO registration with the US Securities and Exchange Commission publicly available later this week

The massive filing shows Uber has been generating the robust revenue growth that entices investors, but also racked up almost $8 billion in losses over its 10 years in existence, which mirrors the same trend challenging Lyft, Uber's main rival in the U.S.

Uber plans to sell around $US10 billion worth of stock at a valuation of between $US90 billion and $100 billion.

The filing contained a "placeholder" amount of US$1 billion to be raised, but that figure is expected to increase ahead of the initial public offering (IPO) expected for next month.

Uber revealed in the filing it could have to pay a license fee to Waymo or face a substantial delay to the development of its self-driving technology if the initial assessment of its technology by an independent expert is confirmed.

Its number of monthly users, who turn to Uber for not only rides but also services like food delivery, was 91 million in 2018, up 34per cent from a year earlier.

Although it is a privately held company, Uber also disclosed its quarterly results for two years "to bring in clarity and visibility".

Lyft's revenue more than doubled between 2017 and 2018 while Uber's grew around 42 percent. Uber reported 2018 revenues of $11.27bn, but the IPO positing revealed a loss of $1.85bn for the year.

Uber's revenue growth looks impressive - it rose from $3.8bn in 2016 to $11.3bn in 2018.

More news: Man Utd boss Ole Gunnar Solskjaer buys wholemeal bread and Pepsi Max

Uber's filing comes just weeks after its much smaller North American competitor Lyft ($LYFT) made its public debut on the Nasdaq.

Uber is now in the process of trying to build itself into a one-stop shop for many different modes of transportation, including bikes, scooters, vehicle sharing, and public transportation.

Uber filed for its IPO in December with the US Securities and Exchange Commission during the same week as Lyft.

Additionally, social media company Pinterest, a company losing money as well, has set a price range for its public offering below its last valuation.

"Uber accounts for less than one percent of all miles driven globally".

Many cities have experienced an explosion in usage of the Uber app, but not everyone has welcomed the invasion, least of all taxi drivers. Uber also owns parts of multiple on-demand ride companies around the world, including Didi Chuxing in China and Russia's Yandex. Khosrowshahi joined Uber in 2017 to replace company co-founder Travis Kalanick who was ousted as CEO.

The company also provided the first comprehensive picture of its finances - it earned $US11.3 billion ($15.9 billion) in revenue, while gross bookings from rides was $US50 billion.

Related News:

  • Chrissy Teigen to House Democrats: Women should say 'f*ck you' more often

    Chrissy Teigen to House Democrats: Women should say 'f*ck you' more often

    Wade has done a jersey exchange with a member of an opposing team all season long, and on Wednesday night it was Anthony's turn. While Wade led all scorers with 24 points, he could not prevent the visitors from slipping to their third straight defeat.
    Sidelined DUP accuses May of 'humiliating' United Kingdom  with Brexit delay talks

    Sidelined DUP accuses May of 'humiliating' United Kingdom with Brexit delay talks

    However, 97 Conservatives rebelled by opposing the plan, including former Brexit Secretaries David Davis and Dominic Raab.
    Manchester United may have identified next season's right-back

    Manchester United may have identified next season's right-back

    They've scored two goals in eight of their last nine games, and it seems likely that they'll find the net here in this one. "Look back and you will see that we have done very well in [all competitions] in recent seasons".
  • Here is the first photo of a black hole

    Here is the first photo of a black hole

    Cosmologists believe black holes are born when a colossal object, like a supersized star, dies and collapses in on itself. By definition, they are a region in spacetime that compresses a huge mass into a very small space.
    Israel's Beresheet spacecraft fails in moon landing attempt

    Israel's Beresheet spacecraft fails in moon landing attempt

    Scientists had hoped to land its magnetometer, digital time capsule, and laser retroreflector on the Moon - as well as a bible. Today, SpaceIL's unmanned craft Beresheet crashed during a live feed of the descent on Thursday and was deemed a total loss.
    Doctors discover four live bees feeding on tears inside woman's eye

    Doctors discover four live bees feeding on tears inside woman's eye

    By that evening, the woman was experiencing sharp pains and watery eyes so she sought out medical advice, according to the outlet. Sweat bees, which normally live off nectar and pollen, are named for their attraction to the salt in human perspiration.
  • Disney+ to launch in November, priced at $6.99 monthly

    Disney+ to launch in November, priced at $6.99 monthly

    Disney revealed details about the service at an investor event on Thursday (Friday NZ time ) in Burbank, California. All 30 seasons of the long-running animated show will be available to stream, as soon as the service launches.
    Baylor's title win caps exciting women's basketball season

    Baylor's title win caps exciting women's basketball season

    Arike Ogunbowale is averaging 21.5 points and 4.9 rebounds while Jessica Shepard is averaging 16.8 points and 10.3 rebounds. The Notre Dame Fighting Irish are shooting 36.2 percent from beyond the arc and 74.4 percent from the free throw line.
    Pakistan accuses India of plotting fresh military attack

    Pakistan accuses India of plotting fresh military attack

    A Pakistan foreign ministry report on evidence provided by India raised further doubts about the veracity of the intelligence. Some in India said between 200 and 300 people were killed in the strikes on Jaish-e-Mohammed.
  • Sudan army confirms it toppled, arrested veteran leader Omar al-Bashir

    Sudan army confirms it toppled, arrested veteran leader Omar al-Bashir

    Sudanese President Omar al-Bashir chairs a meeting of leaders of some political parties in the capital Khartoum, March 7, 2019. There were also reports that several senior figures close to Bashir in the ruling National Congress party had been detained.
    Magic Johnson abruptly resigns as Lakers' president

    Magic Johnson abruptly resigns as Lakers' president

    And at the trade deadline, Los Angeles was willing to trade basically all of its young assets to the Pelicans for Anthony Davis . Johnson, who announced he was HIV positive in 1991, said that his health is "wonderful" and was not a factor in his decision.
    Pixel 3a Confirmed By Google Mistake

    Pixel 3a Confirmed By Google Mistake

    The page has since been updated to remove any mention of the Pixel 3a , but screenshots are in abundance on the Internet. The Bonito phone has a display that produces full HD+ resolution of 1,080 x 2,160 pixels and a pixel density of 400ppi.


Most liked

Ex-Obama WH counsel accused of lying about lobbying work
The federal investigation began as an offshoot of the Mueller probe that was later handed off to Manhattan federal prosecutors. Manafort is now serving more than seven years in prison resulting from two trials that came out of the Mueller probe.

Attorney Michael Avenatti faces new criminal charges in Calif.
The maximum possible punishment for these alleged offenses upon conviction, the report said, is 335 years in prison. Attorney Michael Avenatti has refused to testify in a court case involving money he owes a former legal partner.

Prince Harry, Meghan aim to keep baby arrival plans private
After Meghan and Harry's engagement announcement, Kensington Palace said Meghan would apply for United Kingdom citizenship. Since the pregnancy announcement, there has been plenty of speculation about where the baby will be born.

MSNBC's Chris Matthews Did Not Take Netanyahu's Win Well
First Benny Gantz , Netanyahu's former military chief, appeared on stage calling himself "Israel's next prime minister". Any concession to Palestine would likely bring objections from Mr Netanyahu's far-right coalition allies.

Treasury secretary Mnuchin won't turn over Trump's tax returns by deadline
Bishop: "If anybody's tax return is under audit, is there a rule that would prohibit that taxpayer from releasing it?" Of course, most tax attorneys don't represent presidents or people running for the White House.

Mueller report's release likely 'within a week'
The Department of Justice offered Mueller to review the March 24 letter, but the special counsel declined, according to Barr. Now, the objective is to create a cloud of suspicion around Barr which, I guess, will cast doubt on the Mueller report.

Samsung launches Galaxy A80 with rotating triple camera
Set to lead the company's revamped Galaxy A-series, the Samsung Galaxy A80 brings a number of firsts for Samsung. Still, it looks smart and functional, and is available in three colors; blue, coral (pink) and white.

Talking Totals...Rain, Ice, & Snow
Twice daily, the National Weather Service issues a flood forecasts that is followed closely by city, county and state officials. A similar " bomb cyclone " hit the Midwest and Plains last week, bringing power outages, flooding, and travel delays.

Magic Johnson's Lakers Exit Was Embarrassing
"( Jeanie Buss ) and I have such an fantastic relationship", Johnson said . But not everyone thought Johnson was good for the Lakers.

Imran Khan slams Modi and Netanyahu as 'Morally Bankrupt'
BJP President Amit Shah on Tuesday claimed that people have chose to make Narendra Modi the Prime Minister again. It will also work to cut tax and boost credit to small businesses to 1 trillion rupees ($14.4 billion) by 2024.

Meghan Markle Won’t Make Public Appearances Before Baby’s Birth For This Reason
Do Meghan Markle and Prince Harry's Baby Photos Reveal What Baby Sussex Will Look Like? . They dated for about a year and a half before Harry was ready to propose.

‘Incompetently Botched’: George Conway Roasts Trump for Messy DHS Secretary Departure
Officials recently said it could take two years to identify potentially thousands of children and parents separated at the border. Trump abandoned that policy a year ago in the face of widespread public outrage, and it was subsequently struck down in court.

Nicole Kidman Supports Keith Urban at ACM Awards 2019!
Before the show, McEntire said it was disappointing that a female act in't in contention for entertainer of the year at the ACMs. Metz shared a photo from her performance to her Instagram and thanked all the women who sang the song with her .

U.S. declares Iran's guard force a 'terrorist organization'
The US has already blacklisted dozens of entities and people for affiliations with the IRGC, but not the organisation as a whole. It has control over large sectors of the Iranian economy and has a huge influence in its political system.

O’Rourke Calls Israeli Prime Minister Netanyahu ‘Racist’
Honestly", Netanyahu said , making the case as he has throughout the campaign that he is Israel's essential statesman. Both moves delighted Israel, infuriated Palestinian and Arab leaders, and were opposed by most US allies.