Uber officially files for IPO
Uber Technologies has officially filed for its initial public offering (IPO) on Thursday
The ride-hailing company filed with the US securities and exchange commission for its initial public offering (IPO) on Thursday. It is expected to be listed on the New York Stock Exchange in May.
According to a Reuters report, Uber plans to sell around $10 billion worth of stock at a valuation of between $90 billion and $100 billion. Investment bankers had previously told Uber it could be worth as much as $120 billion.
Filing reveals Uber had 91 million users in 2018
Uber's filing reveals that Uber had an average of 91 million monthly active users on its platform at the end of 2018. A number that is up 33.8% from last year and nearly five times the 18.6 million announced by Lyft.
The numbers also indicate its user base includes customers of other services such as Uber eats, as well as ride-sharing. Uber’s 2018 revenue was $11.3 billion which was up 42% from the previous year.
After making the public filing, Uber will begin a series of investor presentations, called a roadshow, which Reuters has reported will start the week of April 29.
Uber said in its filing its ridehailing position in the United States and Canada was 'significantly impacted by adverse publicity events' and that its position in many markets has been threatened by discounts from competitor companies.
Uber market share
Uber has also said its market share fell in most regions in 2018; however, it claims a more than 65% market share in the United States and Canada, drastically higher than its rival Lyft, which stated 39% in the United States.
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