Uber's IPO Registration Is Finally Happening--With an Expected $100 Billion Valuation

Uber plans to make its IPO registration with the US Securities and Exchange Commission publicly available later this week
Uber plans to sell around $10 nn worth of stock in IPO, say sources
Author

14 April, 2019

Both Uber and Lyft lose money though Uber has trimmed its losses in recent years. If successful, Uber would attain a valuation of between $90 million and $100 billion and the largest tech IPO since Chinese e-commerce business Alibaba in 2014.

Uber plans to make its IPO registration with the United States Securities and Exchange Commission publicly available later this week, and will kick of its investor roadshow during the week of April 29, putting it on track to price its IPO and begin trading on the New York Stock Exchange in early May, the sources said.

Uber, however, hasn't disclosed the valuation it is seeking from the public investors.

Uber Technologies Inc may face a cooler reception from investors than expected when it prices its initial public offering next month since smaller USA ride-hailing rival Lyft Inc's aggressive stock launch and subsequent fall. Lyft's IPO had excited investors for months, especially after the company increased its IPO share price range. The company said in the filing that it lost US$1.8 billion in 2018, excluding certain transactions, on revenue of US$11.3 billion.

Uber grew its revenue from $3.8 billion in 2016 to $11.2 billion in 2018, but at the end of 2018, it had a loss of $1.8 billion. Those deals contributed to nearly $5 billion in what Uber called "other income".

George Russell fastest on return to Mercedes at Bahrain test
Schumacher is the only driver making his F1 test debut on Tuesday, with the rest of the line-up comprising regular race drivers. Although the mileage was solid for an afternoon in the vehicle , his best lap was unspectacular with the 11th fastest time .

Trump threatens to close the U.S.-Mexico border
Democrats in Congress turned down the funding, arguing that Trump was exaggerating problems on the border for political gain. Citizenship and Immigration Services under Democratic President Barack Obama. "They are all talk and no action".

Ocasio-Cortez’s Green New Deal Fails in Senate 0-57
To spur innovations needed to curb climate change, "government must not shun the private sector", Hickenlooper said in the piece. Ocasio-Cortez's remarks, which went viral Tuesday night, came the same day as the Senate struck down the proposal 57-0.

Even though Uber and Lyft both submitted their confidential IPO filings to the SEC on December 6, 2018, Uber's decision-makers are reportedly able to learn from Lyft's mistakes, according to Bloomberg. Uber had been faulted for a culture of workplace sexual harassment, programmes to evade regulators and a viral video of Kalanick lambasting a driver as the company faced mounting pressure of treatment of its contract workforce.

The company is expected to begin trading on the New York Stock Exchange under the ticker UBER as early as May. Polish taxi drivers held up traffic in Monday to call attention to their message that Uber drivers represent unfair competition, reported The Associated Press. It said it still suffered from a perception that Uber is a toxic place to work.

The blowback from the problems helped Lyft pick up ground in the US - something Uber acknowledged in its filing - and led to the ouster of Uber co-founder Travis Kalanick as CEO in 2017. However, its shares dropped by more than 7 percent after Uber's valuation news hit the market.

One advantage Uber will likely seek to play up to investors is that it is the largest player in numerous markets in which it operates.

The filing noted that Uber offers ridesharing in some 700 cities but has bolder ambitions to reshape how people and goods are transported with operations such as meal deliveries, freight, and electric bikes and scooters.


More news


  • Dirk Nowitzki: 'This is My Last Home Game'

    Dirk Nowitzki: 'This is My Last Home Game'

    Nowitzki kept shooting on his busiest night of the season, finishing with highs of 31 shots (making 11) and 33 minutes. Charles Barkley was in attendance and also paid tribute to Nowitzki, calling him "the nicest man ever".
    Sterling generosity makes for better society, says Guardiola

    Sterling generosity makes for better society, says Guardiola

    City are challenging on all fronts this season and could potentially win three more trophies before the campaign ends, having already lifted the League Cup .
    Bernie Could Be On Track To Outpace Beto In Fundraising

    Bernie Could Be On Track To Outpace Beto In Fundraising

    Interestingly enough, Biden failed to raise substantial dollars in the first quarter of the 2008 presidential election cycle. Plus, he did it with more small donors than any other candidate so far, leading the pack among the sought-after demographic.
  • Public health emergency declared amid Brooklyn measles outbreak

    As skepticism over vaccines has increased in recent years, the number of cases of preventable diseases has spiked accordingly. NY has contended with measles outbreaks and the legal challenges that have arisen in efforts to contain them.
    Southampton 1-3 Liverpool: Salah ends drought as Reds go top

    Southampton 1-3 Liverpool: Salah ends drought as Reds go top

    We can not afford years and years of City dominance, with the risk that the Premier League becomes like Serie A or Ligue 1. The Egyptian took just 69 games to do it in, while next closest Fernando Torres needed 72 fixtures to hit the same mark.
    Pentagon says India debris expected to burn up in atmosphere

    Pentagon says India debris expected to burn up in atmosphere

    The DRDO chief also said that there is no need of conducting any further test in this orbit (of the target satellite). The idea began around 2014 and development started in 2016 with a go-ahead from the government.
  • The deadly fungus found in South African hospitals

    The deadly fungus found in South African hospitals

    Such over-prescribing has reduced the effectiveness of the drugs, allowing once curable bacterial infections to thrive once again. A powerful superbug is spreading in hospitals all around the world and it's emerging as a serious global health threat.
    Trump Backs Off Obamacare Replacement After McConnell Says Senate Won't Act

    Trump Backs Off Obamacare Replacement After McConnell Says Senate Won't Act

    Preserving health care protections, and especially for people with pre-existing conditions, resonates with voters. Trump announced Monday that the Republican Party will present a health care reform plan after the 2020 elections.
    #EarthHour: City encourages residents to be part of the switch | Cape Times

    #EarthHour: City encourages residents to be part of the switch | Cape Times

    The Earth Hour has grown since its inception and over 180 countries and territories participated in last year's Earth Hour . The lights are usually plugged off from 8:30 in the evening to 9:30 p.m.as a symbol of commitment to the planet.
  • Technical issues delaying flights nationwide are resolved

    Technical issues delaying flights nationwide are resolved

    The No 1 United States carrier, American Airlines, said the outage was affecting regional carriers nationwide. At least five airlines were affected: Delta, Southwest, American Airlines, Alaska Airlines and JetBlue.
    Linda McMahon To Quit Small Business Administration, To Join Pro-Trump SuperPAC

    Linda McMahon To Quit Small Business Administration, To Join Pro-Trump SuperPAC

    McMahon previously held the title of CEO of WWE, which she gave up in 2009 to run for US Senate. The administration official said McMahon's departure would be announced them.
    Investors hail Lyft shares in IPO, see profits down the road

    Investors hail Lyft shares in IPO, see profits down the road

    For the case of Lyft's backbone, their drivers, it is still unsure what would happen to them with the latest IPO announcement. Lyft co-founders Logan Green and John Zimmer were also joined by some of the comnpany's drivers on Friday morning.